Cibc World Markets Corp Acquires 3,485 Shares of Dayforce Inc (NYSE:DAY)

Cibc World Markets Corp raised its holdings in Dayforce Inc (NYSE:DAY) by 16.3% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 24,917 shares of the company’s stock after acquiring an additional 3,485 shares during the quarter. Cibc World Markets Corp’s holdings in Dayforce were worth $1,810,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Principal Financial Group Inc. purchased a new stake in shares of Dayforce in the 3rd quarter worth $11,135,000. Smartleaf Asset Management LLC lifted its holdings in shares of Dayforce by 69.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,227 shares of the company’s stock worth $89,000 after buying an additional 501 shares during the period. Retirement Systems of Alabama purchased a new stake in shares of Dayforce in the 3rd quarter worth $2,105,000. SG Americas Securities LLC lifted its holdings in shares of Dayforce by 167.7% in the 4th quarter. SG Americas Securities LLC now owns 19,322 shares of the company’s stock worth $1,404,000 after buying an additional 12,103 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Dayforce by 31.8% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,028 shares of the company’s stock worth $1,398,000 after buying an additional 4,596 shares during the period.

Dayforce Trading Up 1.3 %

Dayforce stock opened at $58.40 on Friday. The stock has a 50-day moving average of $64.35 and a two-hundred day moving average of $67.68. 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 one year low of $47.08 and a one year high of $82.69. The stock has a market cap of $9.24 billion, a PE ratio of 530.94, a price-to-earnings-growth ratio of 2.49 and a beta of 1.33.

Dayforce (NYSE:DAY) last released 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%. On average, research analysts anticipate that Dayforce Inc will post 1.48 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on DAY shares. Needham & Company LLC reiterated a “buy” rating and issued a $95.00 target price on shares of Dayforce in a report on Thursday, February 6th. Piper Sandler restated an “overweight” rating and set a $83.00 price objective (down from $94.00) on shares of Dayforce in a research note on Wednesday, February 5th. Citigroup decreased their price objective on Dayforce from $90.00 to $83.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Stifel Nicolaus decreased their price objective on Dayforce from $90.00 to $85.00 and set a “buy” rating for the company in a research note on Thursday, February 6th. Finally, Jefferies Financial Group decreased their price objective on Dayforce from $80.00 to $75.00 and set a “hold” rating for the company in a research note on Thursday, February 6th. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Dayforce currently has a consensus rating of “Moderate Buy” and a consensus price target of $77.86.

Insider Activity

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

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.