Catalyst Funds Management Pty Ltd Increases Holdings in Dayforce Inc (NYSE:DAY)

Catalyst Funds Management Pty Ltd lifted its stake in Dayforce Inc (NYSE:DAY) by 42.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. LBP AM SA grew its holdings in shares of Dayforce by 314.0% during the fourth quarter. LBP AM SA now owns 137,911 shares of the company’s stock worth $10,018,000 after purchasing an additional 104,598 shares during the last quarter. Commonwealth Equity Services LLC increased its holdings in shares of Dayforce by 18.7% in the 4th quarter. Commonwealth Equity Services LLC now owns 11,058 shares of the company’s stock valued at $803,000 after acquiring an additional 1,743 shares during the period. Skandinaviska Enskilda Banken AB publ raised its position in Dayforce by 10.1% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 30,588 shares of the company’s stock valued at $2,217,000 after purchasing an additional 2,800 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Dayforce by 18,250.4% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 660,613 shares of the company’s stock worth $47,890,000 after purchasing an additional 657,013 shares during the period. Finally, Wealthfront Advisers LLC acquired a new stake in shares of Dayforce during the fourth quarter worth about $12,105,000.

Wall Street Analysts Forecast Growth

DAY has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $80.00 price target (down from $85.00) on shares of Dayforce in a report on Wednesday, January 8th. Barclays reduced their price objective on shares of Dayforce from $80.00 to $69.00 and set an “equal weight” rating for the company in a research report on Thursday, February 6th. Jefferies Financial Group dropped their target price on Dayforce from $80.00 to $75.00 and set a “hold” rating on the stock in a research report on Thursday, February 6th. Piper Sandler restated an “overweight” rating and issued a $83.00 price target (down from $94.00) on shares of Dayforce in a research note on Wednesday, February 5th. Finally, Cowen raised Dayforce from a “hold” rating to a “buy” rating in a report on Friday, March 7th. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $79.07.

Dayforce Stock Up 6.3 %

Shares of NYSE DAY opened at $55.45 on Friday. The firm has a market cap of $8.81 billion, a P/E ratio of 504.12, a price-to-earnings-growth ratio of 2.49 and a beta of 1.33. 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 1 year low of $47.08 and a 1 year high of $82.69. The firm’s 50 day moving average price is $65.69 and its 200 day moving average price is $67.75.

Dayforce (NYSE:DAY) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.09). Dayforce had a net margin of 1.03% and a return on equity of 6.49%. As a group, sell-side analysts anticipate that Dayforce Inc will post 1.48 earnings per share for the current year.

Insider Activity at Dayforce

In other Dayforce news, COO Stephen H. Holdridge sold 1,000 shares of Dayforce stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $71.33, for a total transaction of $71,330.00. Following the transaction, the chief operating officer now directly owns 119,022 shares of the company’s stock, valued at $8,489,839.26. The trade was a 0.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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.