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

Louisiana State Employees Retirement System lowered its holdings in Dayforce Inc (NYSE:DAY) by 4.5% in the fourth quarter, HoldingsChannel reports. 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 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in DAY. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in Dayforce by 46.5% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 19,900 shares of the company’s stock worth $1,446,000 after acquiring an additional 6,314 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in Dayforce by 31.8% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,028 shares of the company’s stock worth $1,398,000 after acquiring an additional 4,596 shares in the last quarter. Yousif Capital Management LLC grew its holdings in Dayforce by 9.7% during the 4th quarter. Yousif Capital Management LLC now owns 22,423 shares of the company’s stock worth $1,629,000 after acquiring an additional 1,985 shares in the last quarter. E. Ohman J or Asset Management AB grew its holdings in Dayforce by 37.3% during the 4th quarter. E. Ohman J or Asset Management AB now owns 8,100 shares of the company’s stock worth $588,000 after acquiring an additional 2,200 shares in the last quarter. Finally, Oak Harvest Investment Services acquired a new position in Dayforce during the 4th quarter worth approximately $726,000.

Dayforce Stock Up 1.8 %

DAY stock opened at $67.65 on Wednesday. The company has a market cap of $10.67 billion, a price-to-earnings ratio of 615.01, a price-to-earnings-growth ratio of 2.41 and a beta of 1.26. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.13 and a quick ratio of 1.15. Dayforce Inc has a 12 month low of $47.08 and a 12 month high of $82.69. The company has a fifty day moving average price of $71.40 and a 200 day moving average price of $67.14.

Dayforce (NYSE:DAY) last announced 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 return on equity of 6.49% and a net margin of 1.03%. Sell-side analysts expect that Dayforce Inc will post 1.41 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have commented on DAY. Mizuho boosted their price target on shares of Dayforce from $85.00 to $95.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Citigroup lowered their target price on shares of Dayforce from $90.00 to $83.00 and set a “buy” rating for the company in a report on Thursday, January 16th. Scotiabank lowered their target price on shares of Dayforce from $75.00 to $72.00 and set a “sector perform” rating for the company in a report on Thursday, February 6th. Piper Sandler restated an “overweight” rating and issued a $83.00 target price (down previously from $94.00) on shares of Dayforce in a report on Wednesday, February 5th. Finally, Jefferies Financial Group lowered their target price on shares of Dayforce from $80.00 to $75.00 and set a “hold” rating for the company in a report on Thursday, February 6th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $78.64.

Insiders Place Their Bets

In other news, CEO David D. Ossip sold 858,697 shares of the stock in a transaction dated 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 $63,204,622.85. This trade represents a 51.94 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Stephen H. Holdridge sold 1,000 shares of the stock in a transaction dated 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 represents a 0.83 % decrease in their position. The disclosure for this sale can be found here. 4.90% of the stock is owned by insiders.

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.