Frank Rimerman Advisors LLC Makes New $307,000 Investment in Dayforce Inc (NYSE:DAY)

Frank Rimerman Advisors LLC bought a new position in shares of Dayforce Inc (NYSE:DAY) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 4,232 shares of the company’s stock, valued at approximately $307,000.

Several other institutional investors have also recently bought and sold shares of the business. Catalyst Funds Management Pty Ltd raised its stake in Dayforce by 42.9% during the fourth quarter. Catalyst Funds Management Pty Ltd now owns 4,000 shares of the company’s stock worth $291,000 after acquiring an additional 1,200 shares in the last quarter. LBP AM SA raised its stake in 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 acquiring an additional 104,598 shares in the last quarter. Commonwealth Equity Services LLC raised its stake in Dayforce by 18.7% during the fourth quarter. Commonwealth Equity Services LLC now owns 11,058 shares of the company’s stock worth $803,000 after acquiring an additional 1,743 shares in the last quarter. Skandinaviska Enskilda Banken AB publ raised its stake in Dayforce by 10.1% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 30,588 shares of the company’s stock worth $2,217,000 after acquiring an additional 2,800 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Dayforce by 18,250.4% in 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 buying an additional 657,013 shares during the period.

Insiders Place Their Bets

In related 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 transaction, the chief operating officer now directly owns 119,022 shares in the company, valued at $8,489,839.26. This trade represents a 0.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 4.90% of the company’s stock.

Dayforce Price Performance

Dayforce stock opened at $56.92 on Tuesday. The stock has a market capitalization of $9.05 billion, a price-to-earnings ratio of 517.54, a PEG ratio of 2.49 and a beta of 1.33. Dayforce Inc has a 52-week low of $47.08 and a 52-week high of $82.69. The stock’s 50 day moving average price is $65.36 and its two-hundred day moving average price is $67.81. 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 (NYSE:DAY) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $0.37 earnings per share (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%. On average, equities analysts predict that Dayforce Inc will post 1.48 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently issued reports on DAY. Piper Sandler reaffirmed an “overweight” rating and issued a $83.00 price objective (down previously from $94.00) on shares of Dayforce in a research note on Wednesday, February 5th. Citigroup lowered 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. Jefferies Financial Group lowered 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. Barclays lowered their price objective on Dayforce from $80.00 to $69.00 and set an “equal weight” rating for the company in a research note on Thursday, February 6th. Finally, Scotiabank lowered their price objective on Dayforce from $72.00 to $55.00 and set a “sector perform” rating for the company in a research note on Monday. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $77.86.

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.