Adero Partners LLC Invests $4.99 Million in Dayforce Inc (NYSE:DAY)

Adero Partners LLC purchased a new position in shares of Dayforce Inc (NYSE:DAY) in the third quarter, HoldingsChannel.com reports. The fund purchased 81,421 shares of the company’s stock, valued at approximately $4,987,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Select Equity Group L.P. bought a new stake in shares of Dayforce during the 2nd quarter worth approximately $721,310,000. Elo Mutual Pension Insurance Co bought a new position in Dayforce in the 2nd quarter valued at approximately $673,000. State of New Jersey Common Pension Fund D bought a new position in Dayforce in the 2nd quarter valued at approximately $2,760,000. Vanguard Personalized Indexing Management LLC bought a new position in Dayforce in the 2nd quarter valued at approximately $663,000. Finally, Royal London Asset Management Ltd. bought a new position in Dayforce in the 2nd quarter valued at approximately $2,942,000.

Insider Activity

In related news, COO Stephen H. Holdridge sold 1,000 shares of the business’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $77.00, for a total transaction of $77,000.00. Following the completion of the transaction, the chief operating officer now owns 122,022 shares in the company, valued at $9,395,694. The trade was a 0.81 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jeffrey Scott Jacobs sold 643 shares of the company’s stock in a transaction 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 owns 34,074 shares of the company’s stock, valued at $2,159,269.38. This represents a 1.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,643 shares of company stock valued at $384,617. 4.90% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. TD Cowen increased their price objective on shares of Dayforce from $58.00 to $62.00 and gave the company a “hold” rating in a research note on Monday, October 7th. BMO Capital Markets increased their price objective on shares of Dayforce from $80.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday. KeyCorp upped their price target on shares of Dayforce from $80.00 to $92.00 and gave the company an “overweight” rating in a research report on Wednesday. Citigroup upped their price target on shares of Dayforce from $75.00 to $81.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Finally, Mizuho upped their price target on shares of Dayforce from $85.00 to $95.00 and gave the company an “outperform” rating in a research report on Wednesday. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $79.08.

Dayforce Stock Performance

NYSE:DAY opened at $74.56 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.15 and a quick ratio of 1.15. Dayforce Inc has a 1 year low of $47.08 and a 1 year high of $81.32. The stock’s 50 day simple moving average is $65.44 and its two-hundred day simple moving average is $58.17. The company has a market cap of $11.76 billion, a price-to-earnings ratio of 225.95, a PEG ratio of 3.50 and a beta of 1.27.

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.