Sone Capital Management LLC Makes New Investment in Dayforce Inc (NYSE:DAY)

Sone Capital Management LLC acquired a new stake in Dayforce Inc (NYSE:DAY) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 168,415 shares of the company’s stock, valued at approximately $12,234,000. Dayforce accounts for approximately 1.5% of Sone Capital Management LLC’s investment portfolio, making the stock its 17th largest holding. Sone Capital Management LLC owned approximately 0.11% of Dayforce as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of the stock. FMR LLC grew its position in Dayforce by 382.5% in the fourth quarter. FMR LLC now owns 3,215,123 shares of the company’s stock valued at $233,547,000 after acquiring an additional 2,548,779 shares during the period. Capital International Investors grew its holdings in shares of Dayforce by 3.9% in 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. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Dayforce by 18,250.4% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 660,613 shares of the company’s stock worth $47,890,000 after purchasing an additional 657,013 shares in the last quarter. California Public Employees Retirement System lifted its holdings in Dayforce by 189.0% during the 4th quarter. California Public Employees Retirement System now owns 567,561 shares of the company’s stock valued at $41,228,000 after purchasing an additional 371,153 shares during the last quarter. Finally, Northern Trust Corp boosted its position in Dayforce by 21.5% in the fourth quarter. Northern Trust Corp now owns 1,544,475 shares of the company’s stock valued at $112,191,000 after buying an additional 273,031 shares in the last quarter.

Analysts Set New Price Targets

DAY has been the subject of several recent analyst reports. Stifel Nicolaus dropped their price objective on shares of Dayforce from $90.00 to $85.00 and set a “buy” rating for the company in a report on Thursday, February 6th. TD Cowen upgraded Dayforce from a “hold” rating to a “buy” rating and lifted their price objective for the company from $67.00 to $68.00 in a research report on Friday, March 7th. BMO Capital Markets increased their target price on Dayforce from $64.00 to $67.00 and gave the stock an “outperform” rating in a report on Thursday, May 8th. Piper Sandler cut their price target on Dayforce from $83.00 to $70.00 and set an “overweight” rating for the company in a report on Wednesday, May 7th. Finally, Citigroup upped their price target on shares of Dayforce from $68.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, May 8th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $71.54.

Dayforce Trading Up 1.5%

Shares of NYSE DAY opened at $60.01 on Monday. The company’s 50 day simple moving average is $56.54 and its 200 day simple moving average is $66.37. 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 Inc has a fifty-two week low of $47.08 and a fifty-two week high of $82.69. The firm 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.

Insider Transactions at Dayforce

In other Dayforce news, EVP Samer Alkharrat sold 1,916 shares of the company’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 value of $108,522.24. Following the completion of the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP William Everett Mcdonald sold 2,000 shares of the stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $56.16, for a total transaction of $112,320.00. Following the completion of the sale, the executive vice president now owns 105,691 shares in the company, 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 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.