National Bank of Canada FI Makes New $179,000 Investment in Dayforce Inc (NYSE:DAY)

National Bank of Canada FI purchased a new stake in shares of Dayforce Inc (NYSE:DAY) in the 3rd quarter, Holdings Channel reports. The fund purchased 2,922 shares of the company’s stock, valued at approximately $179,000.

A number of other hedge funds also recently added to or reduced their stakes in DAY. EdgePoint Investment Group Inc. increased its holdings in shares of Dayforce by 1.1% in the 3rd quarter. EdgePoint Investment Group Inc. now owns 10,624,105 shares of the company’s stock worth $650,726,000 after purchasing an additional 112,086 shares in the last quarter. Weiss Asset Management LP purchased a new position in Dayforce in the 3rd quarter worth about $1,513,000. Stifel Financial Corp lifted its stake in Dayforce by 16.0% during the 3rd quarter. Stifel Financial Corp now owns 5,001 shares of the company’s stock valued at $306,000 after acquiring an additional 691 shares during the period. Quantinno Capital Management LP boosted its holdings in shares of Dayforce by 4.5% during the 3rd quarter. Quantinno Capital Management LP now owns 24,975 shares of the company’s stock valued at $1,530,000 after acquiring an additional 1,077 shares during the last quarter. Finally, Quarry LP bought a new stake in shares of Dayforce in the third quarter worth approximately $51,000.

Dayforce Stock Up 0.2 %

DAY opened at $77.34 on Tuesday. The stock has a market cap of $12.20 billion, a price-to-earnings ratio of 234.36, a price-to-earnings-growth ratio of 3.68 and a beta of 1.26. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.15 and a current ratio of 1.15. The firm’s fifty day moving average is $73.09 and its 200 day moving average is $60.85. Dayforce Inc has a fifty-two week low of $47.08 and a fifty-two week high of $82.69.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Mizuho raised their target price on shares of Dayforce from $85.00 to $95.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Barclays raised their price target on Dayforce from $80.00 to $84.00 and gave the stock an “equal weight” rating in a research note on Friday, December 6th. Citigroup upped their price objective on Dayforce from $75.00 to $81.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. BMO Capital Markets raised their target price on Dayforce from $80.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Finally, Scotiabank began coverage on Dayforce in a research note on Monday, November 18th. They set a “sector perform” rating and a $75.00 price target for the company. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Dayforce presently has an average rating of “Moderate Buy” and a consensus target price of $79.08.

Insider Activity

In other Dayforce news, COO Stephen H. Holdridge sold 1,000 shares of Dayforce stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $63.37, for a total value of $63,370.00. Following 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 0.98 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO David D. Ossip sold 858,697 shares of the stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $79.55, for a total transaction of $68,309,346.35. Following the transaction, the chief executive officer now directly owns 794,527 shares of the company’s stock, valued at $63,204,622.85. This trade represents a 51.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 865,340 shares of company stock worth $68,770,223 over the last ninety days. Corporate insiders own 4.90% of the company’s stock.

Dayforce 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.