Sone Capital Management LLC Takes $12.23 Million Position in Dayforce Inc (NYSE:DAY)

Sone Capital Management LLC acquired a new position in shares of Dayforce Inc (NYSE:DAY) during the fourth quarter, HoldingsChannel reports. The firm acquired 168,415 shares of the company’s stock, valued at approximately $12,234,000. Dayforce comprises 1.5% of Sone Capital Management LLC’s holdings, making the stock its 17th largest holding.

Several other institutional investors have also added to or reduced their stakes in the stock. Principal Financial Group Inc. bought a new stake in shares of Dayforce in the third quarter valued at about $11,135,000. Assenagon Asset Management S.A. lifted its stake in Dayforce by 7.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 41,842 shares of the company’s stock valued at $3,039,000 after acquiring an additional 2,893 shares in the last quarter. SG Americas Securities LLC boosted its position in Dayforce by 167.7% during the 4th quarter. SG Americas Securities LLC now owns 19,322 shares of the company’s stock worth $1,404,000 after acquiring an additional 12,103 shares during the last quarter. Pacer Advisors Inc. raised its holdings in shares of Dayforce by 20.0% in the fourth quarter. Pacer Advisors Inc. now owns 13,929 shares of the company’s stock valued at $1,012,000 after purchasing an additional 2,326 shares during the last quarter. Finally, Forsta AP Fonden bought a new stake in shares of Dayforce in the fourth quarter worth $2,673,000.

Dayforce Stock Up 1.5%

DAY opened at $60.01 on Monday. The stock has a fifty day moving average of $56.54 and a 200-day moving average of $66.37. The company has a market capitalization of $9.59 billion, a P/E ratio of 545.60, a P/E/G ratio of 2.49 and a beta of 1.17. Dayforce Inc has a fifty-two week low of $47.08 and a fifty-two week high of $82.69. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.15 and a current ratio of 1.13.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

DAY has been the topic of several recent research reports. KeyCorp lowered their price target on shares of Dayforce from $80.00 to $65.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 22nd. BMO Capital Markets increased their price target on Dayforce from $64.00 to $67.00 and gave the company an “outperform” rating in a research report on Thursday, May 8th. Cowen raised Dayforce from a “hold” rating to a “buy” rating in a research report on Friday, March 7th. Piper Sandler cut their price objective on Dayforce from $83.00 to $70.00 and set an “overweight” rating for the company in a report on Wednesday, May 7th. Finally, TD Cowen upgraded shares of Dayforce from a “hold” rating to a “buy” rating and boosted their target price for the stock from $67.00 to $68.00 in a report on Friday, March 7th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Dayforce currently has an average rating of “Moderate Buy” and a consensus target price of $71.54.

About Dayforce

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.