Dayforce Inc (NYSE:DAY) Shares Sold by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System lessened its position in shares of Dayforce Inc (NYSE:DAY) by 4.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,500 shares of the company’s stock after selling 400 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Dayforce were worth $617,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in DAY. New York State Common Retirement Fund acquired a new stake in Dayforce during the third quarter valued at $20,942,000. Sumitomo Mitsui Trust Group Inc. acquired a new stake in Dayforce during the third quarter valued at $19,273,000. Principal Financial Group Inc. acquired a new stake in Dayforce during the third quarter valued at $11,135,000. EdgePoint Investment Group Inc. grew its position in shares of Dayforce by 1.1% in the third quarter. EdgePoint Investment Group Inc. now owns 10,624,105 shares of the company’s stock valued at $650,726,000 after purchasing an additional 112,086 shares during the period. Finally, New York State Teachers Retirement System acquired a new stake in shares of Dayforce in the third quarter valued at about $6,639,000.

Dayforce Price Performance

Shares of DAY stock opened at $67.65 on Wednesday. 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 firm’s 50-day moving average is $71.40 and its two-hundred day moving average is $67.14. Dayforce Inc has a 12 month low of $47.08 and a 12 month high of $82.69. The company has a market capitalization of $10.67 billion, a PE ratio of 615.01, a price-to-earnings-growth ratio of 2.41 and a beta of 1.26.

Dayforce (NYSE:DAY) last released its quarterly earnings results on Wednesday, February 5th. The company reported $0.37 earnings per share (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%. Analysts predict that Dayforce Inc will post 1.41 earnings per share for the current year.

Analyst Ratings Changes

DAY has been the topic of several research analyst reports. KeyCorp lifted their target price on shares of Dayforce from $80.00 to $92.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Piper Sandler reiterated an “overweight” rating and issued a $83.00 target price (down previously from $94.00) on shares of Dayforce in a research report on Wednesday, February 5th. Mizuho lifted their target price on shares of Dayforce from $85.00 to $95.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Needham & Company LLC reiterated a “buy” rating and issued a $95.00 target price on shares of Dayforce in a research report on Thursday, February 6th. Finally, Stifel Nicolaus lowered their price target on shares of Dayforce from $90.00 to $85.00 and set a “buy” rating on the stock in a research report on Thursday, February 6th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Dayforce has a consensus rating of “Moderate Buy” and a consensus price target of $78.64.

Insider Activity

In related news, CEO David D. Ossip sold 858,697 shares of Dayforce 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 completion of the transaction, the chief executive officer now owns 794,527 shares in the company, valued at approximately $63,204,622.85. The trade was a 51.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Stephen H. Holdridge sold 1,000 shares of Dayforce stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $71.33, for a total transaction of $71,330.00. Following the completion of the transaction, the chief operating officer now owns 119,022 shares of the company’s stock, valued at $8,489,839.26. This trade represents a 0.83 % decrease in their position. The disclosure for this sale can be found here. Insiders own 4.90% of the company’s stock.

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.