Friedenthal Financial Purchases New Shares in Dayforce Inc (NYSE:DAY)

Friedenthal Financial acquired a new position in shares of Dayforce Inc (NYSE:DAY) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 11,345 shares of the company’s stock, valued at approximately $824,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in DAY. Acadian Asset Management LLC acquired a new stake in Dayforce in the 2nd quarter worth about $287,000. Texas Permanent School Fund Corp purchased a new stake in shares of Dayforce during the second quarter worth approximately $1,281,000. Royal London Asset Management Ltd. acquired a new position in Dayforce in the 2nd quarter valued at $2,942,000. Daiwa Securities Group Inc. purchased a new position in Dayforce in the 2nd quarter valued at $1,251,000. Finally, Sentry Investment Management LLC acquired a new stake in Dayforce during the 2nd quarter worth $33,000.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Scotiabank assumed coverage on shares of Dayforce in a research report on Monday, November 18th. They issued a “sector perform” rating and a $75.00 target price for the company. KeyCorp raised their target price on shares of Dayforce from $80.00 to $92.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. BMO Capital Markets upped their price target on Dayforce from $80.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Piper Sandler reissued an “overweight” rating and set a $94.00 price objective (up previously from $82.00) on shares of Dayforce in a research note on Wednesday, November 13th. Finally, Jefferies Financial Group raised their target price on Dayforce from $55.00 to $65.00 and gave the stock a “hold” rating in a research note on Tuesday, October 22nd. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $79.93.

Dayforce Stock Performance

Shares of DAY traded up $0.26 during mid-day trading on Monday, hitting $70.55. 984,943 shares of the company’s stock were exchanged, compared to its average volume of 1,112,722. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.47. Dayforce Inc has a fifty-two week low of $47.08 and a fifty-two week high of $82.69. The business’s 50 day moving average is $76.40 and its two-hundred day moving average is $64.08. The firm has a market capitalization of $11.13 billion, a P/E ratio of 213.79, a P/E/G ratio of 3.68 and a beta of 1.26.

Insiders Place Their Bets

In other Dayforce news, CEO David D. Ossip sold 858,697 shares of Dayforce stock in a transaction that occurred on 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 sale, the chief executive officer now 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jeffrey Scott Jacobs sold 643 shares of Dayforce stock in a transaction that occurred on Tuesday, October 15th. The shares were 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 owns 34,074 shares in the company, valued at approximately $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. In the last ninety days, insiders sold 865,340 shares of company stock valued at $68,770,223. 4.90% of the stock is owned by company insiders.

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.