Artisan Partners Limited Partnership Reduces Stake in Dayforce Inc (NYSE:DAY)

Artisan Partners Limited Partnership lowered its stake in shares of Dayforce Inc (NYSE:DAY) by 5.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 986,504 shares of the company’s stock after selling 56,562 shares during the period. Artisan Partners Limited Partnership owned 0.63% of Dayforce worth $71,660,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Quarry LP bought a new stake in shares of Dayforce in the third quarter valued at $51,000. Harvest Fund Management Co. Ltd purchased a new stake in Dayforce in the 4th quarter worth about $61,000. AlphaQuest LLC raised its stake in Dayforce by 14,800.0% in the 4th quarter. AlphaQuest LLC now owns 1,043 shares of the company’s stock valued at $76,000 after acquiring an additional 1,036 shares during the period. Smartleaf Asset Management LLC lifted its holdings in Dayforce by 69.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,227 shares of the company’s stock valued at $89,000 after purchasing an additional 501 shares during the last quarter. Finally, National Bank of Canada FI bought a new position in Dayforce during the third quarter worth about $179,000.

Dayforce Price Performance

DAY stock opened at $59.71 on Friday. The firm has a 50 day moving average price of $63.51 and a 200-day moving average price of $67.83. The firm has a market capitalization of $9.45 billion, a price-to-earnings ratio of 542.83, a PEG ratio of 2.49 and a beta of 1.33. Dayforce Inc has a 52-week low of $47.08 and a 52-week high of $82.69. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.15 and a current ratio of 1.13.

Dayforce (NYSE:DAY) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.09). Dayforce had a net margin of 1.03% and a return on equity of 6.49%. Equities research analysts forecast that Dayforce Inc will post 1.48 EPS for the current fiscal year.

Insider Activity at Dayforce

In other news, COO Stephen H. Holdridge sold 1,000 shares of the stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $71.33, for a total value of $71,330.00. Following the transaction, the chief operating officer now owns 119,022 shares in the company, valued at $8,489,839.26. This represents a 0.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently commented on DAY. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $80.00 price target (down from $85.00) on shares of Dayforce in a research note on Wednesday, January 8th. Stifel Nicolaus cut their price target on Dayforce from $90.00 to $85.00 and set a “buy” rating for the company in a report on Thursday, February 6th. Piper Sandler reiterated an “overweight” rating and set a $83.00 price objective (down from $94.00) on shares of Dayforce in a research note on Wednesday, February 5th. TD Cowen upgraded Dayforce from a “hold” rating to a “buy” rating and raised their target price for the stock from $67.00 to $68.00 in a research note on Friday, March 7th. Finally, Scotiabank decreased their price target on Dayforce from $72.00 to $55.00 and set a “sector perform” rating on the stock in a research report on Monday, March 17th. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $77.86.

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.