Fisher Asset Management LLC Increases Position in Dayforce Inc (NYSE:DAY)

Fisher Asset Management LLC lifted its holdings in shares of Dayforce Inc (NYSE:DAY) by 38.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 55,361 shares of the company’s stock after buying an additional 15,359 shares during the period. Fisher Asset Management LLC’s holdings in Dayforce were worth $4,021,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in DAY. Creative Planning lifted its position in Dayforce by 87.7% during the 3rd quarter. Creative Planning now owns 10,442 shares of the company’s stock worth $640,000 after acquiring an additional 4,879 shares during the period. Louisiana State Employees Retirement System acquired a new stake in shares of Dayforce during the third quarter worth $545,000. State of Alaska Department of Revenue grew its position in Dayforce by 7.3% in the 3rd quarter. State of Alaska Department of Revenue now owns 18,415 shares of the company’s stock valued at $1,127,000 after buying an additional 1,245 shares during the last quarter. New York State Teachers Retirement System acquired a new position in Dayforce in the 3rd quarter valued at $6,639,000. Finally, US Bancorp DE raised its position in Dayforce by 66.3% during the 3rd quarter. US Bancorp DE now owns 2,363 shares of the company’s stock worth $145,000 after buying an additional 942 shares during the last quarter.

Dayforce Price Performance

Shares of NYSE DAY opened at $57.08 on Wednesday. The company has a current ratio of 1.13, a quick ratio of 1.15 and a debt-to-equity ratio of 0.47. The company’s 50-day moving average price is $68.63 and its 200 day moving average price is $67.93. Dayforce Inc has a 52 week low of $47.08 and a 52 week high of $82.69. The stock has a market cap of $9.00 billion, a price-to-earnings ratio of 518.91, a PEG ratio of 2.49 and a beta of 1.26.

Dayforce (NYSE:DAY) last released 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, research analysts forecast that Dayforce Inc will post 1.48 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on DAY. KeyCorp boosted their price target on shares of Dayforce from $80.00 to $92.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $80.00 target price (down previously from $85.00) on shares of Dayforce in a research report on Wednesday, January 8th. Citigroup cut their target price 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 target on Dayforce from $90.00 to $85.00 and set a “buy” rating on the stock in a research note on Thursday, February 6th. Finally, Barclays dropped their price objective on Dayforce from $80.00 to $69.00 and set an “equal weight” rating on the stock in a report on Thursday, February 6th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Dayforce currently has an average rating of “Moderate Buy” and an average price target of $78.64.

Insiders Place Their Bets

In other Dayforce news, COO Stephen H. Holdridge sold 1,000 shares of the company’s stock in a transaction dated Wednesday, January 15th. The shares were 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 approximately $8,489,839.26. This represents a 0.83 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 4.90% of the stock is currently owned by company insiders.

Dayforce 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.