Toronto Dominion Bank Purchases 8,035 Shares of Dayforce Inc (NYSE:DAY)

Toronto Dominion Bank increased its holdings in shares of Dayforce Inc (NYSE:DAY) by 17.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 53,305 shares of the company’s stock after purchasing an additional 8,035 shares during the quarter. Toronto Dominion Bank’s holdings in Dayforce were worth $3,265,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in DAY. Candriam S.C.A. bought a new position in shares of Dayforce in the 2nd quarter valued at about $6,027,000. New Mexico Educational Retirement Board bought a new position in Dayforce in the second quarter valued at approximately $392,000. Acadian Asset Management LLC acquired a new stake in shares of Dayforce in the 2nd quarter valued at approximately $287,000. Prudential PLC bought a new position in shares of Dayforce in the second quarter valued at $490,000. Finally, Texas Permanent School Fund Corp bought a new position in shares of Dayforce in the 2nd quarter valued at about $1,281,000.

Wall Street Analyst Weigh In

Several research analysts have recently commented on DAY shares. Citigroup lifted their target price on Dayforce from $75.00 to $81.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. BMO Capital Markets increased their price objective on shares of Dayforce from $80.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Scotiabank started coverage on shares of Dayforce in a report on Monday, November 18th. They set a “sector perform” rating and a $75.00 target price for the company. Piper Sandler reissued an “overweight” rating and issued a $94.00 price target (up from $82.00) on shares of Dayforce in a report on Wednesday, November 13th. Finally, Barclays boosted their price objective on Dayforce from $80.00 to $84.00 and gave the stock an “equal weight” rating in a report on Friday, December 6th. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $79.08.

Dayforce Price Performance

Shares of DAY stock opened at $77.17 on Monday. The business has a fifty day simple moving average of $73.09 and a 200 day simple moving average of $60.80. Dayforce Inc has a twelve month low of $47.08 and a twelve month high of $82.69. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.47. The company has a market cap of $12.17 billion, a P/E ratio of 233.85, a P/E/G ratio of 3.68 and a beta of 1.26.

Insider Buying and Selling

In other news, CEO David D. Ossip sold 858,697 shares of the stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $79.55, for a total value of $68,309,346.35. Following the completion of the sale, the chief executive officer now owns 794,527 shares of the company’s stock, valued at approximately $63,204,622.85. This represents a 51.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jeffrey Scott Jacobs sold 643 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The stock was 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 $2,159,269.38. This trade represents a 1.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 865,340 shares of company stock worth $68,770,223 in the last three months. 4.90% of the stock is owned by corporate insiders.

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.