Charles Schwab Investment Management Inc. Increases Stock Position in Dayforce Inc (NYSE:DAY)

Charles Schwab Investment Management Inc. grew its stake in shares of Dayforce Inc (NYSE:DAY) by 0.3% in the 4th quarter, Holdings Channel reports. The institutional investor owned 1,399,628 shares of the company’s stock after buying an additional 4,584 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Dayforce were worth $101,669,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Farther Finance Advisors LLC purchased a new stake in Dayforce during the 3rd quarter worth $40,000. Quarry LP purchased a new stake in Dayforce during the 3rd quarter worth $51,000. Smartleaf Asset Management LLC boosted its position in Dayforce by 69.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,227 shares of the company’s stock worth $89,000 after purchasing an additional 501 shares during the period. US Bancorp DE boosted its position in Dayforce by 66.3% during the 3rd quarter. US Bancorp DE now owns 2,363 shares of the company’s stock worth $145,000 after purchasing an additional 942 shares during the period. Finally, National Bank of Canada FI purchased a new stake in Dayforce during the 3rd quarter worth $179,000.

Dayforce Trading Up 1.4 %

Dayforce stock opened at $55.43 on Monday. The firm has a 50 day simple moving average of $67.54 and a 200-day simple moving average of $67.94. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.13 and a quick ratio of 1.15. The stock has a market capitalization of $8.81 billion, a PE ratio of 503.96, a price-to-earnings-growth ratio of 2.49 and a beta of 1.33. Dayforce Inc has a 12-month low of $47.08 and a 12-month high of $82.69.

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

Analysts Set New Price Targets

A number of analysts recently weighed in on DAY shares. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $80.00 price target (down from $85.00) on shares of Dayforce in a research report on Wednesday, January 8th. BMO Capital Markets upped their price target on shares of Dayforce from $80.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Stifel Nicolaus cut their price objective on shares of Dayforce from $90.00 to $85.00 and set a “buy” rating on the stock in a report on Thursday, February 6th. Barclays cut their price objective on shares of Dayforce from $80.00 to $69.00 and set an “equal weight” rating on the stock in a report on Thursday, February 6th. Finally, Scotiabank cut their price objective on shares of Dayforce from $75.00 to $72.00 and set a “sector perform” rating on the stock in a report on Thursday, February 6th. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, Dayforce has a consensus rating of “Moderate Buy” and an average target price of $79.07.

Insider Activity at Dayforce

In related 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 transaction of $71,330.00. Following the completion of the sale, the chief operating officer now directly owns 119,022 shares of the company’s stock, valued at $8,489,839.26. This represents a 0.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 4.90% of the company’s stock.

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.