EdgePoint Investment Group Inc. Sells 1,682,409 Shares of Dayforce Inc (NYSE:DAY)

EdgePoint Investment Group Inc. reduced its stake in shares of Dayforce Inc (NYSE:DAY) by 15.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,941,696 shares of the company’s stock after selling 1,682,409 shares during the period. Dayforce comprises approximately 5.1% of EdgePoint Investment Group Inc.’s holdings, making the stock its 6th biggest position. EdgePoint Investment Group Inc. owned 0.06% of Dayforce worth $649,525,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of DAY. Harvest Fund Management Co. Ltd bought a new position in shares of Dayforce during the fourth quarter worth about $61,000. Federated Hermes Inc. acquired a new stake in Dayforce during the fourth quarter valued at approximately $72,000. AlphaQuest LLC lifted its holdings in Dayforce by 14,800.0% during the 4th quarter. AlphaQuest LLC now owns 1,043 shares of the company’s stock worth $76,000 after buying an additional 1,036 shares during the last quarter. Smartleaf Asset Management LLC grew its position in shares of Dayforce by 69.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,227 shares of the company’s stock worth $89,000 after acquiring an additional 501 shares in the last quarter. Finally, Orion Portfolio Solutions LLC bought a new stake in shares of Dayforce in the 4th quarter valued at approximately $217,000.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Jefferies Financial Group reduced their price objective on Dayforce from $80.00 to $75.00 and set a “hold” rating on the stock in a research note on Thursday, February 6th. BMO Capital Markets raised their price target on shares of Dayforce from $64.00 to $67.00 and gave the company an “outperform” rating in a research note on Thursday. Mizuho reduced their price target on Dayforce from $95.00 to $80.00 and set an “outperform” rating for the company in a research report on Tuesday, April 15th. Wells Fargo & Company lowered their price target on Dayforce from $70.00 to $60.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 22nd. Finally, KeyCorp reduced their price objective on shares of Dayforce from $80.00 to $65.00 and set an “overweight” rating for the company in a report on Tuesday, April 22nd. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, Dayforce currently has a consensus rating of “Moderate Buy” and an average target price of $71.29.

Insider Activity

In other Dayforce news, EVP Samer Alkharrat sold 1,916 shares of the business’s stock in a transaction 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 sale, the executive vice president now directly owns 150,237 shares of the company’s stock, valued at $8,509,423.68. The trade was a 1.26 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP William Everett Mcdonald sold 2,000 shares of the 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 completion of the sale, the executive vice president now owns 105,691 shares of the company’s stock, valued at $5,935,606.56. The trade was a 1.86 % decrease in their position. The disclosure for this sale can be found here. 4.50% of the stock is currently owned by company insiders.

Dayforce Stock Performance

Shares of DAY opened at $58.29 on Friday. Dayforce Inc has a 12-month low of $47.08 and a 12-month high of $82.69. The stock has a market capitalization of $9.22 billion, a P/E ratio of 529.91, a P/E/G ratio of 2.49 and a beta of 1.17. The firm’s 50 day moving average is $56.12 and its 200-day moving average is $66.67. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.13 and a quick ratio of 1.15.

Dayforce (NYSE:DAY) last released its quarterly earnings data on Wednesday, February 5th. The company reported $0.37 earnings per share 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%. Equities research analysts anticipate that Dayforce Inc will post 1.48 EPS for the current fiscal year.

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.