Swedbank AB Invests $5.29 Million in Dayforce Inc (NYSE:DAY)

Swedbank AB bought a new stake in Dayforce Inc (NYSE:DAY) during the 3rd quarter, HoldingsChannel.com reports. The fund bought 86,400 shares of the company’s stock, valued at approximately $5,292,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quent Capital LLC acquired a new position in shares of Dayforce in the third quarter valued at about $28,000. Financial Perspectives Inc acquired a new position in Dayforce in the 2nd quarter worth approximately $28,000. Farther Finance Advisors LLC acquired a new position in Dayforce in the 3rd quarter worth approximately $40,000. Sentry Investment Management LLC acquired a new stake in Dayforce during the 2nd quarter valued at approximately $33,000. Finally, Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in shares of Dayforce in the 3rd quarter valued at $74,000.

Dayforce Price Performance

NYSE:DAY opened at $79.87 on Thursday. The firm has a market cap of $12.60 billion, a P/E ratio of 242.03, a price-to-earnings-growth ratio of 3.84 and a beta of 1.27. The stock has a 50 day moving average of $68.58 and a two-hundred day moving average of $59.24. Dayforce Inc has a 12 month low of $47.08 and a 12 month high of $82.69. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.47.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on DAY. Mizuho boosted their target price on shares of Dayforce from $85.00 to $95.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. BMO Capital Markets upped their target price on Dayforce from $80.00 to $90.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Citigroup boosted their price target on Dayforce from $75.00 to $81.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Jefferies Financial Group raised their price objective on shares of Dayforce from $55.00 to $65.00 and gave the stock a “hold” rating in a research note on Tuesday, October 22nd. Finally, TD Cowen boosted their target price on shares of Dayforce from $58.00 to $62.00 and gave the company a “hold” rating in a research note on Monday, October 7th. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $78.77.

Insider Activity at Dayforce

In other news, insider Jeffrey Scott Jacobs sold 643 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $63.37, for a total value of $40,746.91. Following the completion of the sale, the insider now directly owns 34,074 shares in the company, valued at $2,159,269.38. This represents a 1.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Stephen H. Holdridge sold 1,000 shares of Dayforce stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $63.37, for a total value of $63,370.00. Following the transaction, the chief operating officer now owns 101,437 shares in the company, valued at approximately $6,428,062.69. The trade was a 0.98 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 865,340 shares of company stock valued at $68,770,223. 4.90% of the stock is owned by insiders.

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.