Allstate Corp Purchases Shares of 4,810 Dayforce Inc (NYSE:DAY)

Allstate Corp acquired a new position in shares of Dayforce Inc (NYSE:DAY) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 4,810 shares of the company’s stock, valued at approximately $349,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in Dayforce by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 17,319,275 shares of the company’s stock worth $1,258,072,000 after acquiring an additional 197,773 shares during the last quarter. EdgePoint Investment Group Inc. grew its stake in shares of Dayforce by 1.1% during the third quarter. EdgePoint Investment Group Inc. now owns 10,624,105 shares of the company’s stock worth $650,726,000 after purchasing an additional 112,086 shares in the last quarter. Janus Henderson Group PLC increased its holdings in Dayforce by 1.9% in the third quarter. Janus Henderson Group PLC now owns 5,669,154 shares of the company’s stock valued at $347,236,000 after buying an additional 103,794 shares during the last quarter. Geode Capital Management LLC increased its holdings in Dayforce by 0.8% in the third quarter. Geode Capital Management LLC now owns 3,782,024 shares of the company’s stock valued at $230,875,000 after buying an additional 30,302 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Dayforce by 0.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,399,628 shares of the company’s stock valued at $101,669,000 after buying an additional 4,584 shares in the last quarter.

Analysts Set New Price Targets

A number of research firms have recently commented on DAY. Piper Sandler reiterated an “overweight” rating and issued a $83.00 price objective (down previously from $94.00) on shares of Dayforce in a report on Wednesday, February 5th. TD Cowen upgraded shares of Dayforce from a “hold” rating to a “buy” rating and increased their price target for the company from $67.00 to $68.00 in a research note on Friday, March 7th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $80.00 price objective (down previously from $85.00) on shares of Dayforce in a research report on Wednesday, January 8th. Cowen raised shares of Dayforce from a “hold” rating to a “buy” rating in a research report on Friday, March 7th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $95.00 price target on shares of Dayforce in a research report on Thursday, February 6th. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $77.86.

Dayforce Stock Up 1.7 %

DAY opened at $59.36 on Thursday. Dayforce Inc has a 52 week low of $47.08 and a 52 week high of $82.69. The business has a 50 day moving average price of $62.63 and a two-hundred day moving average price of $67.91. The company has a quick ratio of 1.15, a current ratio of 1.13 and a debt-to-equity ratio of 0.47. The company has a market cap of $9.39 billion, a PE ratio of 539.69, a P/E/G ratio of 2.49 and a beta of 1.33.

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 return on equity of 6.49% and a net margin of 1.03%. As a group, research analysts anticipate that Dayforce Inc will post 1.48 EPS for the current year.

Insider Activity

In other news, COO Stephen H. Holdridge sold 1,000 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $71.33, for a total transaction of $71,330.00. Following the completion of the transaction, the chief operating officer now directly owns 119,022 shares of the company’s stock, valued at approximately $8,489,839.26. This represents a 0.83 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 4.50% of the company’s stock.

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.