Dayforce (NYSE:DAY) Sees Strong Trading Volume – Still a Buy?

Dayforce, Inc. (NYSE:DAY) saw an uptick in trading volume on Tuesday . 6,082,692 shares were traded during trading, an increase of 70% from the previous session’s volume of 3,581,776 shares.The stock last traded at $69.8070 and had previously closed at $68.92.

Analyst Ratings Changes

Several research analysts have commented on the company. Weiss Ratings reissued a “sell (d)” rating on shares of Dayforce in a research report on Monday, December 29th. Zacks Research raised Dayforce from a “strong sell” rating to a “hold” rating in a research report on Tuesday, December 30th. UBS Group downgraded shares of Dayforce from a “strong-buy” rating to a “hold” rating in a research report on Saturday, November 15th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Dayforce in a research report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Dayforce presently has a consensus rating of “Hold” and a consensus price target of $70.36.

Dayforce Trading Up 1.1%

The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.04 and a current ratio of 1.04. The business has a fifty day simple moving average of $69.22 and a 200 day simple moving average of $66.99. The company has a market cap of $11.15 billion, a P/E ratio of -74.13, a P/E/G ratio of 2.12 and a beta of 1.18.

Insider Activity at Dayforce

In other news, insider Jeffrey Scott Jacobs sold 500 shares of the company’s stock in a transaction dated Monday, January 26th. The shares were sold at an average price of $69.36, for a total transaction of $34,680.00. Following the completion of the transaction, the insider owned 48,901 shares in the company, valued at approximately $3,391,773.36. This represents a 1.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Stephen H. Holdridge sold 2,000 shares of the company’s stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $68.87, for a total transaction of $137,740.00. Following the completion of the transaction, the chief operating officer owned 178,814 shares of the company’s stock, valued at approximately $12,314,920.18. This trade represents a 1.11% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 4.50% of the company’s stock.

Institutional Investors Weigh In On Dayforce

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Resona Asset Management Co. Ltd. increased its position in shares of Dayforce by 9.4% in the third quarter. Resona Asset Management Co. Ltd. now owns 1,897 shares of the company’s stock worth $131,000 after acquiring an additional 163 shares in the last quarter. Fifth Third Bancorp grew its stake in Dayforce by 2.1% during the 4th quarter. Fifth Third Bancorp now owns 8,424 shares of the company’s stock valued at $583,000 after acquiring an additional 177 shares in the last quarter. UMB Bank n.a. increased its holdings in shares of Dayforce by 82.6% in the 3rd quarter. UMB Bank n.a. now owns 431 shares of the company’s stock valued at $30,000 after purchasing an additional 195 shares during the period. DekaBank Deutsche Girozentrale lifted its position in shares of Dayforce by 1.0% in the second quarter. DekaBank Deutsche Girozentrale now owns 19,984 shares of the company’s stock worth $1,103,000 after purchasing an additional 196 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its holdings in shares of Dayforce by 2.4% during the fourth quarter. Nisa Investment Advisors LLC now owns 9,121 shares of the company’s stock worth $631,000 after purchasing an additional 217 shares during the period.

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. The company also provides payroll and payroll-related services; and implementation and professional services.