Louisiana State Employees Retirement System Takes Position in Dayforce Inc (NYSE:DAY)

Louisiana State Employees Retirement System acquired a new stake in shares of Dayforce Inc (NYSE:DAY) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 8,900 shares of the company’s stock, valued at approximately $545,000.

A number of other hedge funds have also recently modified their holdings of DAY. Select Equity Group L.P. bought a new stake in shares of Dayforce during the 2nd quarter valued at $721,310,000. EdgePoint Investment Group Inc. bought a new stake in shares of Dayforce during the 2nd quarter valued at $521,396,000. Dragoneer Investment Group LLC bought a new stake in shares of Dayforce during the 2nd quarter valued at $193,274,000. Dimensional Fund Advisors LP bought a new position in Dayforce in the 2nd quarter worth $51,027,000. Finally, Cannae Holdings Inc. bought a new position in Dayforce in the 2nd quarter worth $49,600,000.

Dayforce Stock Up 2.3 %

DAY opened at $77.16 on Wednesday. The firm has a 50-day simple moving average of $61.81 and a two-hundred day simple moving average of $57.10. Dayforce Inc has a 52 week low of $47.08 and a 52 week high of $77.25. The company has a market capitalization of $12.17 billion, a PE ratio of 233.83, a price-to-earnings-growth ratio of 3.52 and a beta of 1.27. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.47.

Insider Activity

In other news, COO Stephen H. Holdridge sold 1,000 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $63.37, for a total transaction of $63,370.00. Following the sale, the chief operating officer now directly owns 101,437 shares in the company, valued at approximately $6,428,062.69. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Jeffrey Scott Jacobs sold 643 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $63.37, for a total transaction of $40,746.91. Following the sale, the insider now directly owns 34,074 shares in the company, valued at approximately $2,159,269.38. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Stephen H. Holdridge sold 1,000 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $63.37, for a total transaction of $63,370.00. Following the sale, the chief operating officer now owns 101,437 shares in the company, valued at $6,428,062.69. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,643 shares of company stock worth $307,617. 4.90% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on DAY. Deutsche Bank Aktiengesellschaft upped their target price on shares of Dayforce from $70.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Needham & Company LLC reaffirmed a “buy” rating and issued a $82.00 target price on shares of Dayforce in a report on Thursday, October 31st. Citigroup upped their target price on shares of Dayforce from $75.00 to $81.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. TD Cowen upped their target price on shares of Dayforce from $58.00 to $62.00 and gave the stock a “hold” rating in a report on Monday, October 7th. Finally, Barclays upped their target price on shares of Dayforce from $63.00 to $70.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. Five investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Dayforce presently has an average rating of “Moderate Buy” and a consensus target price of $72.67.

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.