Sumitomo Mitsui Trust Group Inc. Lowers Holdings in Dayforce Inc (NYSE:DAY)

Sumitomo Mitsui Trust Group Inc. trimmed its holdings in Dayforce Inc (NYSE:DAY) by 0.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 313,510 shares of the company’s stock after selling 1,157 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.20% of Dayforce worth $22,773,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Principal Financial Group Inc. purchased a new stake in Dayforce in the third quarter valued at $11,135,000. KBC Group NV purchased a new stake in Dayforce in the third quarter valued at $946,000. Adero Partners LLC purchased a new stake in Dayforce in the third quarter valued at $4,987,000. CIBC Asset Management Inc purchased a new stake in Dayforce in the third quarter valued at $1,434,000. Finally, Retirement Systems of Alabama purchased a new stake in Dayforce in the third quarter valued at $2,105,000.

Analysts Set New Price Targets

Several research firms have recently issued reports on DAY. Jefferies Financial Group lowered their target price on shares of Dayforce from $80.00 to $75.00 and set a “hold” rating on the stock in a research note on Thursday, February 6th. BMO Capital Markets increased their target price 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. Mizuho increased their target price on shares of Dayforce from $85.00 to $95.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Scotiabank lowered their target price on shares of Dayforce from $75.00 to $72.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 6th. Finally, Barclays lowered their target price on shares of Dayforce from $80.00 to $69.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 6th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $78.64.

Dayforce Stock Down 0.7 %

DAY opened at $64.78 on Thursday. The company has a market cap of $10.22 billion, a PE ratio of 588.96, a price-to-earnings-growth ratio of 2.41 and a beta of 1.26. The company has a quick ratio of 1.15, a current ratio of 1.13 and a debt-to-equity ratio of 0.47. Dayforce Inc has a twelve month low of $47.08 and a twelve month high of $82.69. The company has a 50-day moving average price of $72.43 and a 200 day moving average price of $66.85.

Dayforce (NYSE:DAY) last released its quarterly earnings data on Wednesday, February 5th. The company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.09). Dayforce had a net margin of 1.03% and a return on equity of 6.49%. Sell-side analysts expect that Dayforce Inc will post 1.41 earnings per share for the current fiscal year.

Insider Buying and Selling at Dayforce

In other news, 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 transaction of $68,309,346.35. Following the completion of the sale, the chief executive officer now owns 794,527 shares in the company, valued at $63,204,622.85. This trade represents a 51.94 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Stephen H. Holdridge sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $76.26, for a total transaction of $76,260.00. Following the sale, the chief operating officer now owns 121,022 shares of the company’s stock, valued at $9,229,137.72. This represents a 0.82 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 860,697 shares of company stock worth $68,456,936. Insiders own 4.90% of the company’s stock.

Dayforce 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.