Adero Partners LLC Makes New $4.99 Million Investment in Dayforce Inc (NYSE:DAY)

Adero Partners LLC acquired a new position in shares of Dayforce Inc (NYSE:DAY) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 81,421 shares of the company’s stock, valued at approximately $4,987,000. Adero Partners LLC owned approximately 0.05% of Dayforce at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Select Equity Group L.P. acquired a new stake in shares of Dayforce during the second quarter worth approximately $721,310,000. EdgePoint Investment Group Inc. acquired a new stake in shares of Dayforce in the second quarter valued at approximately $521,396,000. Dragoneer Investment Group LLC acquired a new stake in shares of Dayforce in the second quarter valued at approximately $193,274,000. Dimensional Fund Advisors LP acquired a new stake in shares of Dayforce in the second quarter valued at approximately $51,027,000. Finally, Cannae Holdings Inc. acquired a new stake in shares of Dayforce in the second quarter valued at approximately $49,600,000.

Dayforce Stock Down 2.8 %

Dayforce stock opened at $74.56 on Friday. The firm has a market capitalization of $11.76 billion, a PE ratio of 225.95, a P/E/G ratio of 3.50 and a beta of 1.27. The company’s 50-day moving average is $65.44 and its 200-day moving average is $58.17. Dayforce Inc has a fifty-two week low of $47.08 and a fifty-two week high of $81.32. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.15 and a quick ratio of 1.15.

Wall Street Analyst Weigh In

DAY has been the subject of a number of research reports. Mizuho raised their price target on shares of Dayforce from $85.00 to $95.00 and gave the company an “outperform” rating in a report on Wednesday. BMO Capital Markets raised their price target on shares of Dayforce from $80.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday. Jefferies Financial Group lifted their target price on shares of Dayforce from $55.00 to $65.00 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. KeyCorp lifted their target price on shares of Dayforce from $80.00 to $92.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, Barclays lifted their target price on shares of Dayforce from $70.00 to $80.00 and gave the stock an “equal weight” rating in a report on Wednesday. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $79.08.

Insider Activity at Dayforce

In related news, insider Jeffrey Scott Jacobs sold 643 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $63.37, for a total value of $40,746.91. Following the transaction, the insider now owns 34,074 shares in the company, valued at approximately $2,159,269.38. This represents a 1.85 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Stephen H. Holdridge sold 1,000 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $77.00, for a total transaction of $77,000.00. Following the completion of the sale, the chief operating officer now directly owns 122,022 shares of the company’s stock, valued at $9,395,694. This represents a 0.81 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,643 shares of company stock worth $384,617. Insiders own 4.90% of the company’s stock.

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.