Northern Trust Corp Purchases 273,031 Shares of Dayforce Inc (NYSE:DAY)

Northern Trust Corp lifted its position in shares of Dayforce Inc (NYSE:DAY) by 21.5% in the fourth quarter, HoldingsChannel reports. The fund owned 1,544,475 shares of the company’s stock after buying an additional 273,031 shares during the period. Northern Trust Corp’s holdings in Dayforce were worth $112,191,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in DAY. Capital International Investors raised its holdings in Dayforce by 3.9% during the 4th quarter. Capital International Investors now owns 17,659,706 shares of the company’s stock worth $1,282,800,000 after purchasing an additional 667,065 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Dayforce by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 17,319,275 shares of the company’s stock worth $1,258,072,000 after buying an additional 197,773 shares during the last quarter. Capital World Investors lifted its holdings in Dayforce by 1.0% in the fourth quarter. Capital World Investors now owns 13,654,333 shares of the company’s stock valued at $991,851,000 after buying an additional 128,578 shares during the period. Geode Capital Management LLC boosted its stake in Dayforce by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 3,839,645 shares of the company’s stock valued at $278,193,000 after acquiring an additional 57,621 shares during the last quarter. Finally, FMR LLC grew its holdings in Dayforce by 382.5% during the 4th quarter. FMR LLC now owns 3,215,123 shares of the company’s stock worth $233,547,000 after acquiring an additional 2,548,779 shares during the period.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Barclays reduced their price target on Dayforce from $69.00 to $61.00 and set an “equal weight” rating on the stock in a research report on Monday, April 21st. Wells Fargo & Company decreased their target price on Dayforce from $70.00 to $60.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 22nd. Scotiabank cut their price target on shares of Dayforce from $72.00 to $55.00 and set a “sector perform” rating on the stock in a research report on Monday, March 17th. Stifel Nicolaus reduced their price objective on shares of Dayforce from $90.00 to $85.00 and set a “buy” rating on the stock in a research note on Thursday, February 6th. Finally, KeyCorp lowered their target price on shares of Dayforce from $80.00 to $65.00 and set an “overweight” rating for the company in a research note on Tuesday, April 22nd. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, Dayforce currently has an average rating of “Moderate Buy” and an average target price of $73.79.

Dayforce Price Performance

Shares of NYSE DAY opened at $58.93 on Friday. The company has a fifty day moving average price of $56.45 and a 200 day moving average price of $66.89. Dayforce Inc has a 1-year low of $47.08 and a 1-year high of $82.69. The firm has a market cap of $9.33 billion, a PE ratio of 535.78, a PEG ratio of 2.49 and a beta of 1.20. The company has a current ratio of 1.13, a quick ratio of 1.15 and a debt-to-equity ratio of 0.47.

Dayforce (NYSE:DAY) last posted its quarterly earnings data 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%. Research analysts predict that Dayforce Inc will post 1.48 earnings per share for the current fiscal year.

Insider Activity

In other Dayforce news, EVP William Everett Mcdonald sold 2,000 shares of Dayforce stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $56.16, for a total value of $112,320.00. Following the sale, the executive vice president now directly owns 105,691 shares in the company, valued at approximately $5,935,606.56. The trade was a 1.86 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Samer Alkharrat sold 1,916 shares of the stock in a transaction dated Friday, April 25th. The stock was sold at an average price of $56.64, for a total transaction of $108,522.24. Following the transaction, the executive vice president now owns 150,237 shares of the company’s stock, valued at approximately $8,509,423.68. This represents a 1.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.50% of the stock is owned by corporate 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.