Allspring Global Investments Holdings LLC Takes Position in Dayforce Inc (NYSE:DAY)

Allspring Global Investments Holdings LLC bought a new stake in shares of Dayforce Inc (NYSE:DAY) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 7,829 shares of the company’s stock, valued at approximately $480,000.

A number of other large investors have also recently made changes to their positions in the stock. Quent Capital LLC purchased a new stake in Dayforce in the third quarter worth about $28,000. Financial Perspectives Inc bought a new position in Dayforce in the second quarter worth about $28,000. Sentry Investment Management LLC bought a new position in Dayforce in the second quarter worth about $33,000. Livforsakringsbolaget Skandia Omsesidigt bought a new position in Dayforce in the third quarter worth about $74,000. Finally, Benjamin F. Edwards & Company Inc. bought a new position in Dayforce in the second quarter worth about $62,000.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on DAY. Jefferies Financial Group boosted their target price on shares of Dayforce from $55.00 to $65.00 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. Needham & Company LLC restated a “buy” rating and set a $82.00 price objective on shares of Dayforce in a report on Thursday. Mizuho upped their price objective on shares of Dayforce from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Thursday. BMO Capital Markets upped their price objective on shares of Dayforce from $70.00 to $80.00 and gave the company an “outperform” rating in a report on Friday. Finally, TD Cowen increased their price target on shares of Dayforce from $58.00 to $62.00 and gave the stock a “hold” rating in a report on Monday, October 7th. Five analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $72.67.

Insider Buying and Selling

In related news, insider Jeffrey Scott Jacobs sold 643 shares of the firm’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 $40,746.91. Following the completion of the sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, COO Stephen H. Holdridge sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $65.00, for a total transaction of $65,000.00. Following the completion of the sale, the chief operating officer now owns 100,437 shares in the company, valued at $6,528,405. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jeffrey Scott Jacobs sold 643 shares of Dayforce stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $63.37, for a total value of $40,746.91. Following the transaction, the insider now directly owns 34,074 shares in the company, valued at approximately $2,159,269.38. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,643 shares of company stock valued at $307,617. 4.90% of the stock is currently owned by insiders.

Dayforce Trading Up 6.0 %

Shares of NYSE:DAY opened at $75.23 on Friday. Dayforce Inc has a 1 year low of $47.08 and a 1 year high of $75.41. The firm has a market capitalization of $11.89 billion, a price-to-earnings ratio of 227.98, a price-to-earnings-growth ratio of 2.52 and a beta of 1.29. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.15 and a quick ratio of 1.11. The business’s 50 day moving average price is $61.11 and its 200-day moving average price is $56.91.

Dayforce (NYSE:DAY) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.05. Dayforce had a return on equity of 6.69% and a net margin of 3.12%. The company had revenue of $423.30 million for the quarter, compared to analyst estimates of $417.41 million. On average, equities research analysts forecast that Dayforce Inc will post 1.07 earnings per share for the current fiscal year.

About Dayforce

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.