Rhumbline Advisers Trims Stock Position in Dayforce Inc (NYSE:DAY)

Rhumbline Advisers cut its holdings in shares of Dayforce Inc (NYSE:DAY) by 1.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 268,011 shares of the company’s stock after selling 3,849 shares during the quarter. Rhumbline Advisers owned about 0.17% of Dayforce worth $19,468,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC purchased a new position in Dayforce during the third quarter worth about $40,000. Quarry LP purchased a new position in Dayforce during the third quarter worth about $51,000. Blue Trust Inc. purchased a new position in Dayforce during the third quarter worth about $91,000. Signaturefd LLC purchased a new position in shares of Dayforce in the 3rd quarter worth about $96,000. Finally, US Bancorp DE raised its holdings in shares of Dayforce by 66.3% in the 3rd quarter. US Bancorp DE now owns 2,363 shares of the company’s stock worth $145,000 after purchasing an additional 942 shares during the period.

Dayforce Trading Down 1.4 %

Shares of NYSE DAY opened at $67.30 on Friday. The company has a market cap of $10.61 billion, a price-to-earnings ratio of 611.91, a P/E/G ratio of 2.50 and a beta of 1.26. Dayforce Inc has a 12 month low of $47.08 and a 12 month high of $82.69. The company has a quick ratio of 1.15, a current ratio of 1.13 and a debt-to-equity ratio of 0.47. The business has a fifty day simple moving average of $70.79 and a 200-day simple moving average of $67.25.

Dayforce (NYSE:DAY) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $0.37 earnings per share 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%. Sell-side analysts predict that Dayforce Inc will post 1.48 EPS for the current year.

Insider Activity

In other Dayforce news, COO Stephen H. Holdridge sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The stock was 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 approximately $8,489,839.26. This trade represents a 0.83 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David D. Ossip sold 858,697 shares of the firm’s 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 sale, the chief executive officer now owns 794,527 shares of the company’s stock, valued at $63,204,622.85. This represents a 51.94 % decrease in their position. The disclosure for this sale can be found here. 4.90% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have recently commented on DAY shares. KeyCorp raised their price objective on Dayforce from $80.00 to $92.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Needham & Company LLC reiterated a “buy” rating and set a $95.00 target price on shares of Dayforce in a report on Thursday, February 6th. Mizuho raised their target price on Dayforce from $85.00 to $95.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $80.00 target price (down from $85.00) on shares of Dayforce in a report on Wednesday, January 8th. Finally, Scotiabank dropped their target price on Dayforce from $75.00 to $72.00 and set a “sector perform” rating on the stock in a report 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’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $78.64.

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.