Swedbank AB Invests $5.29 Million in Dayforce Inc (NYSE:DAY)

Swedbank AB acquired a new stake in Dayforce Inc (NYSE:DAY) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 86,400 shares of the company’s stock, valued at approximately $5,292,000. Swedbank AB owned about 0.05% of Dayforce at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Select Equity Group L.P. acquired a new stake in shares of Dayforce in the second quarter worth about $721,310,000. EdgePoint Investment Group Inc. acquired a new position in shares of Dayforce during the 2nd quarter valued at about $521,396,000. Dragoneer Investment Group LLC bought a new position in shares of Dayforce in the 2nd quarter valued at approximately $193,274,000. Dimensional Fund Advisors LP acquired a new stake in Dayforce in the 2nd quarter worth approximately $51,027,000. Finally, Cannae Holdings Inc. bought a new stake in Dayforce during the second quarter worth approximately $49,600,000.

Insider Activity

In related news, COO Stephen H. Holdridge sold 1,000 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $63.37, for a total value of $63,370.00. Following the completion of the transaction, the chief operating officer now owns 101,437 shares of the company’s stock, valued at $6,428,062.69. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Dayforce news, insider Jeffrey Scott Jacobs sold 643 shares of Dayforce stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $63.37, for a total transaction of $40,746.91. Following the completion of the transaction, the insider now directly owns 34,074 shares of the company’s stock, valued at approximately $2,159,269.38. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Stephen H. Holdridge sold 1,000 shares of the company’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $63.37, for a total transaction of $63,370.00. Following the completion of the sale, the chief operating officer now directly owns 101,437 shares in the company, valued at approximately $6,428,062.69. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 4.90% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on DAY. Piper Sandler raised shares of Dayforce from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $68.00 to $71.00 in a research report on Wednesday, July 31st. Mizuho lifted their target price on shares of Dayforce from $70.00 to $80.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Dayforce from $70.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Wells Fargo & Company dropped their price objective on Dayforce from $64.00 to $52.00 and set an “equal weight” rating on the stock in a research note on Friday, June 21st. Finally, TD Cowen increased their target price on Dayforce from $58.00 to $62.00 and gave the company a “hold” rating in a research note on Monday, October 7th. Four investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $70.18.

Dayforce Price Performance

Shares of DAY stock opened at $65.00 on Friday. Dayforce Inc has a 12 month low of $47.08 and a 12 month high of $74.66. The company has a market capitalization of $10.26 billion, a P/E ratio of 196.97, a P/E/G ratio of 2.23 and a beta of 1.29. The stock has a 50 day moving average of $58.61 and a two-hundred day moving average of $56.60. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49.

Dayforce (NYSE:DAY) last issued its earnings results on Wednesday, July 31st. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.18 by $0.05. Dayforce had a return on equity of 6.35% and a net margin of 2.89%. The firm had revenue of $423.30 million during the quarter, compared to analysts’ expectations of $417.41 million. As a group, equities analysts expect that Dayforce Inc will post 1.07 EPS for the current year.

Dayforce Company Profile

Dayforce Inc, together with its subsidiaries, operates as a human capital management (HCM) software company in the United States, Canada, and internationally. It offers Dayforce, a cloud HCM platform that provides human resources, payroll and tax, workforce management, wallet, benefits, and talent intelligence functionalities; and Powerpay, a cloud HR and payroll solution for the small business market.