O Shaughnessy Asset Management LLC Increases Stock Position in Dayforce Inc (NYSE:DAY)

O Shaughnessy Asset Management LLC grew its stake in Dayforce Inc (NYSE:DAY) by 73.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,613 shares of the company’s stock after buying an additional 2,804 shares during the period. O Shaughnessy Asset Management LLC’s holdings in Dayforce were worth $480,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. HighTower Advisors LLC raised its position in Dayforce by 11.0% during the third quarter. HighTower Advisors LLC now owns 6,083 shares of the company’s stock valued at $368,000 after purchasing an additional 602 shares in the last quarter. Quantinno Capital Management LP lifted its position in Dayforce by 4.5% in the 3rd quarter. Quantinno Capital Management LP now owns 24,975 shares of the company’s stock worth $1,530,000 after buying an additional 1,077 shares during the last quarter. Stifel Financial Corp boosted its stake in Dayforce by 16.0% in the third quarter. Stifel Financial Corp now owns 5,001 shares of the company’s stock worth $306,000 after buying an additional 691 shares in the last quarter. National Bank of Canada FI purchased a new stake in Dayforce in the third quarter worth approximately $179,000. Finally, Nomura Asset Management Co. Ltd. grew its position in Dayforce by 16.1% during the third quarter. Nomura Asset Management Co. Ltd. now owns 43,430 shares of the company’s stock valued at $2,660,000 after acquiring an additional 6,022 shares during the last quarter.

Insiders Place Their Bets

In other Dayforce news, COO Stephen H. Holdridge sold 1,000 shares of the business’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $71.33, for a total transaction of $71,330.00. Following the completion of the sale, the chief operating officer now directly owns 119,022 shares in the company, valued at approximately $8,489,839.26. The trade was a 0.83 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.50% of the stock is owned by insiders.

Dayforce Price Performance

Shares of DAY stock opened at $54.17 on Friday. The company has a quick ratio of 1.15, a current ratio of 1.13 and a debt-to-equity ratio of 0.47. The business’s fifty day moving average is $59.68 and its 200 day moving average is $67.49. Dayforce Inc has a twelve month low of $47.08 and a twelve month high of $82.69. The stock has a market cap of $8.57 billion, a price-to-earnings ratio of 492.51, a PEG ratio of 2.49 and a beta of 1.20.

Dayforce (NYSE:DAY) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.09). Dayforce had a net margin of 1.03% and a return on equity of 6.49%. Research analysts expect that Dayforce Inc will post 1.48 EPS for the current fiscal year.

Analysts Set New Price Targets

DAY has been the subject of a number of research reports. Stifel Nicolaus cut their price objective on shares of Dayforce from $90.00 to $85.00 and set a “buy” rating for the company in a research note on Thursday, February 6th. Piper Sandler restated an “overweight” rating and set a $83.00 price target (down from $94.00) on shares of Dayforce in a research report on Wednesday, February 5th. Citigroup decreased their price objective on Dayforce from $90.00 to $83.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Barclays dropped their target price on Dayforce from $80.00 to $69.00 and set an “equal weight” rating for the company in a report on Thursday, February 6th. Finally, Cowen raised Dayforce from a “hold” rating to a “buy” rating in a research note on Friday, March 7th. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $77.86.

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.