State of Alaska Department of Revenue Lowers Position in Dayforce Inc (NYSE:DAY)

State of Alaska Department of Revenue trimmed its position in Dayforce Inc (NYSE:DAY) by 2.3% during the 4th quarter, Holdings Channel.com reports. The firm owned 17,985 shares of the company’s stock after selling 430 shares during the period. State of Alaska Department of Revenue’s holdings in Dayforce were worth $1,306,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in DAY. New York State Common Retirement Fund bought a new position in shares of Dayforce in the 3rd quarter worth about $20,942,000. Sumitomo Mitsui Trust Group Inc. bought a new position in shares of Dayforce during the third quarter valued at approximately $19,273,000. Principal Financial Group Inc. bought a new stake in shares of Dayforce in the 3rd quarter worth approximately $11,135,000. EdgePoint Investment Group Inc. boosted its position in shares of Dayforce by 1.1% in the 3rd quarter. EdgePoint Investment Group Inc. now owns 10,624,105 shares of the company’s stock worth $650,726,000 after purchasing an additional 112,086 shares in the last quarter. Finally, New York State Teachers Retirement System purchased a new stake in shares of Dayforce in the 3rd quarter worth approximately $6,639,000.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on DAY shares. Jefferies Financial Group reduced their price target on Dayforce from $80.00 to $75.00 and set a “hold” rating for the company in a report on Thursday, February 6th. Piper Sandler restated an “overweight” rating and set a $83.00 price objective (down from $94.00) on shares of Dayforce in a research note on Wednesday, February 5th. BMO Capital Markets upped 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. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $80.00 price target (down previously from $85.00) on shares of Dayforce in a research report on Wednesday, January 8th. Finally, Scotiabank lowered their price objective on Dayforce from $75.00 to $72.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 6th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, Dayforce has an average rating of “Moderate Buy” and an average target price of $78.64.

Insider Transactions at Dayforce

In other news, COO Stephen H. Holdridge sold 1,000 shares of Dayforce stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $76.26, for a total transaction of $76,260.00. Following the transaction, the chief operating officer now directly owns 121,022 shares of the company’s stock, valued at $9,229,137.72. The trade was a 0.82 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO David D. Ossip sold 858,697 shares of the stock in a transaction that occurred on Tuesday, November 26th. The stock was 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 directly owns 794,527 shares of the company’s stock, valued at $63,204,622.85. This represents a 51.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 860,697 shares of company stock worth $68,456,936 in the last three months. Corporate insiders own 4.90% of the company’s stock.

Dayforce Price Performance

NYSE DAY opened at $64.78 on Thursday. The company has a 50-day moving average price of $72.43 and a 200-day moving average price of $66.85. Dayforce Inc has a 52 week low of $47.08 and a 52 week 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 firm has a market capitalization of $10.22 billion, a P/E ratio of 588.96, a PEG ratio of 2.41 and a beta of 1.26.

Dayforce (NYSE:DAY) last announced its earnings results 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%. Equities research analysts anticipate that Dayforce Inc will post 1.41 earnings per share for the current year.

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.