Nisa Investment Advisors LLC Has $1.48 Million Position in Dayforce Inc (NYSE:DAY)

Nisa Investment Advisors LLC cut its position in Dayforce Inc (NYSE:DAY) by 2.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 20,336 shares of the company’s stock after selling 445 shares during the period. Nisa Investment Advisors LLC’s holdings in Dayforce were worth $1,477,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Retireful LLC acquired a new position in shares of Dayforce in the 4th quarter valued at approximately $1,636,000. USA Financial Formulas bought a new position in Dayforce in the fourth quarter valued at approximately $224,000. Assenagon Asset Management S.A. boosted its holdings in shares of Dayforce by 7.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 41,842 shares of the company’s stock valued at $3,039,000 after buying an additional 2,893 shares during the period. Friedenthal Financial bought a new stake in shares of Dayforce during the fourth quarter worth $824,000. Finally, Czech National Bank raised its holdings in shares of Dayforce by 6.2% during the fourth quarter. Czech National Bank now owns 34,193 shares of the company’s stock worth $2,484,000 after acquiring an additional 1,987 shares during the period.

Insider Activity at Dayforce

In related news, COO Stephen H. Holdridge sold 2,000 shares of the business’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $69.25, for a total transaction of $138,500.00. Following the sale, the chief operating officer now owns 98,437 shares of the company’s stock, valued at $6,816,762.25. The trade was a 1.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO David D. Ossip sold 858,697 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $79.55, for a total value of $68,309,346.35. Following the transaction, the chief executive officer now directly owns 794,527 shares of the company’s stock, valued at approximately $63,204,622.85. This trade represents a 51.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 863,697 shares of company stock worth $68,672,436 in the last 90 days. Company insiders own 4.90% of the company’s stock.

Wall Street Analysts Forecast Growth

DAY has been the subject of a number of research reports. Piper Sandler reiterated an “overweight” rating and set a $94.00 price objective (up from $82.00) on shares of Dayforce in a report on Wednesday, November 13th. BMO Capital Markets raised their price target on shares of Dayforce from $80.00 to $90.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Scotiabank started coverage on shares of Dayforce in a research report on Monday, November 18th. They issued a “sector perform” rating and a $75.00 price objective on the stock. Barclays decreased their target price on shares of Dayforce from $84.00 to $80.00 and set an “equal weight” rating for the company in a research report on Friday, January 10th. Finally, Jefferies Financial Group boosted their price target on shares of Dayforce from $55.00 to $65.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Dayforce has an average rating of “Moderate Buy” and an average target price of $80.07.

Dayforce Price Performance

Shares of Dayforce stock opened at $72.37 on Tuesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.15 and a current ratio of 1.15. Dayforce Inc has a 52-week low of $47.08 and a 52-week high of $82.69. The company has a fifty day moving average of $74.77 and a 200-day moving average of $65.50. The stock has a market capitalization of $11.41 billion, a price-to-earnings ratio of 219.31, a price-to-earnings-growth ratio of 2.56 and a beta of 1.26.

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.