Inceptionr LLC Purchases 11,814 Shares of Dayforce Inc (NYSE:DAY)

Inceptionr LLC boosted its position in Dayforce Inc (NYSE:DAY) by 141.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,152 shares of the company’s stock after acquiring an additional 11,814 shares during the quarter. Inceptionr LLC’s holdings in Dayforce were worth $1,464,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in DAY. Louisiana State Employees Retirement System bought a new position in Dayforce in the third quarter valued at approximately $545,000. US Bancorp DE increased its stake in Dayforce by 66.3% in the third quarter. US Bancorp DE now owns 2,363 shares of the company’s stock valued at $145,000 after acquiring an additional 942 shares during the last quarter. Farther Finance Advisors LLC bought a new position in Dayforce in the third quarter valued at approximately $40,000. Harbor Capital Advisors Inc. bought a new position in Dayforce in the third quarter valued at approximately $192,000. Finally, Robeco Institutional Asset Management B.V. bought a new position in Dayforce in the third quarter valued at approximately $1,597,000.

Analyst Upgrades and Downgrades

DAY has been the topic of a number of recent analyst reports. Jefferies Financial Group decreased their price objective on shares of Dayforce from $80.00 to $75.00 and set a “hold” rating on the stock in a research note on Thursday, February 6th. Piper Sandler reaffirmed an “overweight” rating and set a $83.00 target price (down previously from $94.00) on shares of Dayforce in a research note on Wednesday, February 5th. Citigroup decreased their target price on shares of Dayforce from $90.00 to $83.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. KeyCorp boosted their target price on shares of Dayforce from $80.00 to $92.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Finally, Barclays decreased their target price on shares of Dayforce from $80.00 to $69.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 6th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $78.64.

Dayforce Price Performance

Shares of NYSE:DAY opened at $57.28 on Thursday. The firm has a market cap of $9.10 billion, a PE ratio of 520.77, a price-to-earnings-growth ratio of 2.49 and a beta of 1.33. The firm’s fifty day moving average is $68.30 and its 200-day moving average is $67.85. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.15 and a current ratio of 1.13. Dayforce Inc has a 52 week low of $47.08 and a 52 week high of $82.69.

Dayforce (NYSE:DAY) last issued 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 return on equity of 6.49% and a net margin of 1.03%. Sell-side analysts predict that Dayforce Inc will post 1.48 earnings per share for the current year.

Insider Activity at Dayforce

In related 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 value of $71,330.00. Following the transaction, the chief operating officer now owns 119,022 shares in the company, valued at $8,489,839.26. The trade was a 0.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.90% of the stock is owned by company insiders.

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.