Dayforce Inc (NYSE:DAY) Shares Bought by Catalyst Funds Management Pty Ltd

Catalyst Funds Management Pty Ltd increased its holdings in shares of Dayforce Inc (NYSE:DAY) by 42.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,000 shares of the company’s stock after buying an additional 1,200 shares during the period. Catalyst Funds Management Pty Ltd’s holdings in Dayforce were worth $291,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Dayforce by 18,250.4% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 660,613 shares of the company’s stock valued at $47,890,000 after purchasing an additional 657,013 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. purchased a new position in Dayforce in the 3rd quarter valued at about $19,273,000. Principal Financial Group Inc. purchased a new position in Dayforce in the 3rd quarter valued at about $11,135,000. Wealthfront Advisers LLC acquired a new stake in Dayforce in the 4th quarter worth about $12,105,000. Finally, EdgePoint Investment Group Inc. increased its stake in Dayforce by 1.1% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 10,624,105 shares of the company’s stock worth $650,726,000 after buying an additional 112,086 shares in the last quarter.

Dayforce Stock Up 6.3 %

NYSE:DAY opened at $55.45 on Friday. Dayforce Inc has a 52 week low of $47.08 and a 52 week high of $82.69. The stock’s fifty day moving average is $65.69 and its two-hundred day moving average is $67.75. The stock has a market capitalization of $8.81 billion, a price-to-earnings ratio of 504.12, a price-to-earnings-growth ratio of 2.49 and a beta of 1.33. 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 (NYSE:DAY) last posted its earnings results on Wednesday, February 5th. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.09). Dayforce had a return on equity of 6.49% and a net margin of 1.03%. Research analysts anticipate that Dayforce Inc will post 1.48 EPS for the current year.

Insider Activity

In other news, COO Stephen H. Holdridge sold 1,000 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $71.33, for a total value of $71,330.00. Following the sale, the chief operating officer now directly owns 119,022 shares in the company, valued at approximately $8,489,839.26. This trade represents a 0.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 4.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. TD Cowen raised Dayforce from a “hold” rating to a “buy” rating and lifted their price target for the stock from $67.00 to $68.00 in a research note on Friday, March 7th. Piper Sandler reaffirmed an “overweight” rating and set a $83.00 target price (down previously from $94.00) on shares of Dayforce in a report on Wednesday, February 5th. Barclays lowered their price target on shares of Dayforce from $80.00 to $69.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 6th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $80.00 target price (down from $85.00) on shares of Dayforce in a report on Wednesday, January 8th. Finally, Stifel Nicolaus reduced their price target on Dayforce from $90.00 to $85.00 and set a “buy” rating on the stock in a report on Thursday, February 6th. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $79.07.

Dayforce Company 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.