Zurcher Kantonalbank Zurich Cantonalbank Makes New Investment in Dayforce Inc (NYSE:DAY)

Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Dayforce Inc (NYSE:DAY) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 42,521 shares of the company’s stock, valued at approximately $2,604,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of DAY. Select Equity Group L.P. acquired a new position in Dayforce in the second quarter worth $721,310,000. EdgePoint Investment Group Inc. acquired a new position in Dayforce in the second quarter worth $521,396,000. Dragoneer Investment Group LLC acquired a new position in Dayforce in the second quarter worth $193,274,000. Dimensional Fund Advisors LP acquired a new position in Dayforce in the second quarter worth $51,027,000. Finally, Cannae Holdings Inc. acquired a new position in Dayforce in the second quarter worth $49,600,000.

Insider Buying and Selling at Dayforce

In other news, insider Jeffrey Scott Jacobs sold 643 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $63.37, for a total value of $40,746.91. Following the completion of the sale, the insider now directly 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 transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO David D. Ossip sold 858,697 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The shares were 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 directly owns 794,527 shares of the company’s stock, valued at approximately $63,204,622.85. The trade was a 51.94 % 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 over the last ninety days. 4.90% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have commented on DAY. Scotiabank initiated coverage on Dayforce in a research note on Monday, November 18th. They issued a “sector perform” rating and a $75.00 price objective on the stock. TD Cowen upped their price target on Dayforce from $58.00 to $62.00 and gave the company a “hold” rating in a research note on Monday, October 7th. Barclays upped their price target on Dayforce from $70.00 to $80.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 13th. Needham & Company LLC increased their target price on Dayforce from $82.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Finally, KeyCorp increased their target price on Dayforce from $80.00 to $92.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $78.77.

Dayforce Stock Down 1.1 %

DAY stock opened at $80.49 on Wednesday. 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 business has a 50 day moving average price of $70.25 and a two-hundred day moving average price of $59.73. The company has a market cap of $12.69 billion, a price-to-earnings ratio of 243.92, a P/E/G ratio of 3.82 and a beta of 1.26. Dayforce Inc has a twelve month low of $47.08 and a twelve month high of $82.69.

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.