Ethic Inc. Sells 4,997 Shares of Dayforce Inc (NYSE:DAY)

Ethic Inc. lessened its position in Dayforce Inc (NYSE:DAY) by 37.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,223 shares of the company’s stock after selling 4,997 shares during the period. Ethic Inc.’s holdings in Dayforce were worth $597,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in DAY. Capital International Investors boosted its holdings in Dayforce by 3.9% during the fourth quarter. Capital International Investors now owns 17,659,706 shares of the company’s stock worth $1,282,800,000 after purchasing an additional 667,065 shares during the last quarter. Vanguard Group Inc. increased its holdings in Dayforce by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 17,319,275 shares of the company’s stock valued at $1,258,072,000 after buying an additional 197,773 shares during the period. Capital World Investors boosted its stake in shares of Dayforce by 1.0% in the 4th quarter. Capital World Investors now owns 13,654,333 shares of the company’s stock valued at $991,851,000 after purchasing an additional 128,578 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Dayforce by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 3,839,645 shares of the company’s stock valued at $278,193,000 after purchasing an additional 57,621 shares in the last quarter. Finally, FMR LLC boosted its position in Dayforce by 382.5% during the 4th quarter. FMR LLC now owns 3,215,123 shares of the company’s stock worth $233,547,000 after buying an additional 2,548,779 shares during the period.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on DAY. Stifel Nicolaus lowered 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. Cowen raised shares of Dayforce from a “hold” rating to a “buy” rating in a report on Friday, March 7th. Mizuho cut their price target on shares of Dayforce from $95.00 to $80.00 and set an “outperform” rating on the stock in a report on Tuesday, April 15th. Piper Sandler dropped their price objective on shares of Dayforce from $83.00 to $70.00 and set an “overweight” rating on the stock in a report on Wednesday, May 7th. Finally, Barclays lowered their price target on shares of Dayforce from $61.00 to $60.00 and set an “equal weight” rating on the stock in a report on Thursday, May 8th. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $71.29.

Insider Buying and Selling at Dayforce

In other news, EVP Samer Alkharrat sold 1,916 shares of Dayforce stock in a transaction dated Friday, April 25th. The stock was sold at an average price of $56.64, for a total value of $108,522.24. Following the completion of the transaction, the executive vice president now owns 150,237 shares of the company’s stock, valued at $8,509,423.68. The trade was a 1.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP William Everett Mcdonald sold 2,000 shares of Dayforce stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $56.16, for a total value of $112,320.00. Following the completion of the transaction, the executive vice president now directly owns 105,691 shares of the company’s stock, valued at approximately $5,935,606.56. This represents a 1.86% decrease in their position. The disclosure for this sale can be found here. Insiders own 4.50% of the company’s stock.

Dayforce Stock Performance

Shares of DAY stock opened at $59.10 on Friday. The stock has a fifty day moving average of $56.41 and a 200 day moving average of $66.46. Dayforce Inc has a 52 week low of $47.08 and a 52 week high of $82.69. The firm has a market capitalization of $9.45 billion, a price-to-earnings ratio of 537.32, a PEG ratio of 2.49 and a beta of 1.17. The company has a quick ratio of 1.15, a current ratio of 1.13 and a debt-to-equity ratio of 0.47.

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.