New York State Common Retirement Fund Lowers Position in Dayforce Inc (NYSE:DAY)

New York State Common Retirement Fund decreased its position in shares of Dayforce Inc (NYSE:DAY) by 7.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 317,075 shares of the company’s stock after selling 24,838 shares during the quarter. New York State Common Retirement Fund owned 0.20% of Dayforce worth $23,032,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in DAY. Principal Financial Group Inc. acquired a new stake in Dayforce during the third quarter valued at $11,135,000. Sumitomo Mitsui Trust Group Inc. purchased a new stake in shares of Dayforce during the 3rd quarter worth about $19,273,000. KBC Group NV acquired a new stake in shares of Dayforce during the 3rd quarter valued at about $946,000. Adero Partners LLC purchased a new position in shares of Dayforce in the 3rd quarter valued at about $4,987,000. Finally, CIBC Asset Management Inc acquired a new position in Dayforce in the 3rd quarter worth about $1,434,000.

Insider Buying and Selling

In related news, CEO David D. Ossip sold 858,697 shares of the stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $79.55, for a total value of $68,309,346.35. Following the completion of the transaction, the chief executive officer now directly owns 794,527 shares in the company, valued at approximately $63,204,622.85. This represents a 51.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Stephen H. Holdridge sold 1,000 shares of Dayforce stock in a transaction 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 completion of the sale, 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 disclosure for this sale can be found here. 4.90% of the stock is owned by company insiders.

Analysts Set New Price Targets

DAY has been the topic of several research analyst reports. Stifel Nicolaus dropped their price objective on Dayforce from $90.00 to $85.00 and set a “buy” rating on the stock in a report on Thursday, February 6th. Citigroup dropped their price target on shares of Dayforce from $90.00 to $83.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. Barclays reduced their price objective on shares of Dayforce from $80.00 to $69.00 and set an “equal weight” rating for the company in a research report on Thursday, February 6th. Scotiabank decreased 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. Finally, Jefferies Financial Group cut their target price on shares of Dayforce from $80.00 to $75.00 and set a “hold” rating for the company in a research note on Thursday, February 6th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $78.64.

Dayforce Price Performance

DAY stock opened at $64.72 on Friday. Dayforce Inc has a 1 year low of $47.08 and a 1 year high of $82.69. The firm has a market capitalization of $10.21 billion, a PE ratio of 588.42, a price-to-earnings-growth ratio of 2.52 and a beta of 1.26. 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 business has a 50 day simple moving average of $70.79 and a 200-day simple moving average of $67.25.

Dayforce (NYSE:DAY) last issued its earnings results on Wednesday, February 5th. The company reported $0.37 earnings per share (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%. Equities research analysts anticipate that Dayforce Inc will post 1.48 earnings per share for the current fiscal year.

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.