Dayforce (NYSE:DAY) Sees Large Volume Increase – Time to Buy?

Shares of Dayforce, Inc. (NYSE:DAY) saw an uptick in trading volume on Tuesday . 6,082,692 shares traded hands 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.

Analysts Set New Price Targets

DAY has been the topic of several recent research reports. Needham & Company LLC reiterated a “hold” rating on shares of Dayforce in a research report on Thursday, October 30th. UBS Group cut shares of Dayforce from a “strong-buy” rating to a “hold” rating in a research note on Saturday, November 15th. Zacks Research upgraded Dayforce from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 30th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Dayforce in a report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $70.36.

Dayforce Stock Performance

The company has a debt-to-equity ratio of 0.23, a current ratio of 1.04 and a quick ratio of 1.04. The stock has a fifty day simple moving average of $69.27 and a two-hundred day simple moving average of $67.11. The firm has a market capitalization of $11.20 billion, a P/E ratio of -74.44, a P/E/G ratio of 2.14 and a beta of 1.16.

Insider Buying and Selling at Dayforce

In related news, COO Stephen H. Holdridge sold 2,000 shares of the business’s stock in a transaction on Friday, November 14th. The shares were sold at an average price of $68.87, for a total transaction of $137,740.00. Following the transaction, the chief operating officer owned 178,814 shares in the company, valued at $12,314,920.18. The trade was a 1.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jeffrey Scott Jacobs sold 500 shares of Dayforce stock in a transaction on 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 sale, the insider directly owned 48,901 shares of the company’s stock, valued at approximately $3,391,773.36. This trade represents a 1.01% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 4.50% of the company’s stock.

Institutional Trading of Dayforce

Several institutional investors have recently made changes to their positions in the company. UMB Bank n.a. grew its position in Dayforce by 82.6% in the 3rd quarter. UMB Bank n.a. now owns 431 shares of the company’s stock worth $30,000 after purchasing an additional 195 shares in the last quarter. True Wealth Design LLC lifted its position in shares of Dayforce by 419.1% during the 4th quarter. True Wealth Design LLC now owns 462 shares of the company’s stock worth $32,000 after buying an additional 373 shares in the last quarter. MUFG Securities EMEA plc purchased a new position in shares of Dayforce in the 2nd quarter worth approximately $26,000. Quent Capital LLC bought a new position in shares of Dayforce in the third quarter valued at approximately $34,000. Finally, Assetmark Inc. grew its holdings in shares of Dayforce by 701.4% in the second quarter. Assetmark Inc. now owns 561 shares of the company’s stock valued at $31,000 after acquiring an additional 491 shares in the last quarter.

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