Empirical Finance LLC Takes $236,000 Position in Dayforce Inc (NYSE:DAY)

Empirical Finance LLC acquired a new stake in Dayforce Inc (NYSE:DAY) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 3,859 shares of the company’s stock, valued at approximately $236,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Select Equity Group L.P. bought a new stake in Dayforce during the 2nd quarter worth approximately $721,310,000. EdgePoint Investment Group Inc. bought a new stake in shares of Dayforce in the second quarter worth $521,396,000. Dragoneer Investment Group LLC acquired a new stake in Dayforce in the second quarter valued at $193,274,000. Dimensional Fund Advisors LP bought a new position in Dayforce during the 2nd quarter worth $51,027,000. Finally, Cannae Holdings Inc. acquired a new position in Dayforce during the 2nd quarter worth about $49,600,000.

Insider Buying and Selling

In related news, insider Jeffrey Scott Jacobs sold 643 shares of the firm’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 of the company’s stock, valued at approximately $2,159,269.38. This trade represents a 1.85 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Stephen H. Holdridge sold 1,000 shares of Dayforce stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $77.00, for a total value of $77,000.00. Following the transaction, the chief operating officer now owns 122,022 shares of the company’s stock, valued at $9,395,694. This trade represents a 0.81 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,643 shares of company stock valued at $384,617. 4.90% of the stock is owned by company insiders.

Dayforce Price Performance

DAY stock opened at $74.56 on Monday. Dayforce Inc has a 1 year low of $47.08 and a 1 year high of $81.32. The stock has a market capitalization of $11.76 billion, a PE ratio of 225.95, a price-to-earnings-growth 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 $58.15. 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

Several equities research analysts have recently weighed in on the company. Citigroup increased their price target on Dayforce from $75.00 to $81.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. BMO Capital Markets raised their price target on shares of Dayforce from $80.00 to $90.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Needham & Company LLC upped their price objective on shares of Dayforce from $82.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Jefferies Financial Group increased their price objective on shares of Dayforce from $55.00 to $65.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. Finally, KeyCorp boosted their target price on shares of Dayforce from $80.00 to $92.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $79.08.

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.