Sei Investments Co. Sells 1,607 Shares of Dayforce Inc (NYSE:DAY)

Sei Investments Co. decreased its holdings in Dayforce Inc (NYSE:DAY) by 5.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,113 shares of the company’s stock after selling 1,607 shares during the period. Sei Investments Co.’s holdings in Dayforce were worth $2,115,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Principal Financial Group Inc. purchased a new stake in shares of Dayforce during the 3rd quarter valued at about $11,135,000. Smartleaf Asset Management LLC boosted its holdings in Dayforce by 69.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,227 shares of the company’s stock worth $89,000 after purchasing an additional 501 shares during the last quarter. Retirement Systems of Alabama purchased a new stake in Dayforce in the third quarter worth approximately $2,105,000. SG Americas Securities LLC grew its position in Dayforce by 167.7% in the 4th quarter. SG Americas Securities LLC now owns 19,322 shares of the company’s stock worth $1,404,000 after purchasing an additional 12,103 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake 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 valued at $1,398,000 after buying an additional 4,596 shares during the last quarter.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. TD Cowen upgraded Dayforce from a “hold” rating to a “buy” rating and boosted their price target for the company from $67.00 to $68.00 in a research note on Friday, March 7th. Jefferies Financial Group cut their target price on shares of Dayforce from $80.00 to $75.00 and set a “hold” rating for the company in a research report on Thursday, February 6th. Scotiabank decreased their price target on shares of Dayforce from $72.00 to $55.00 and set a “sector perform” rating on the stock in a research report on Monday, March 17th. Needham & Company LLC reiterated a “buy” rating and set a $95.00 price target on shares of Dayforce in a research note on Thursday, February 6th. Finally, Cowen upgraded Dayforce from a “hold” rating to a “buy” rating in a research note on Friday, March 7th. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $77.86.

Insider Activity at Dayforce

In related news, COO Stephen H. Holdridge sold 1,000 shares of the firm’s stock in a transaction 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.50% of the stock is owned by insiders.

Dayforce Price Performance

DAY opened at $51.40 on Friday. The company has a market capitalization of $8.13 billion, a price-to-earnings ratio of 467.32, a PEG ratio of 2.49 and a beta of 1.20. The company has a current ratio of 1.13, a quick ratio of 1.15 and a debt-to-equity ratio of 0.47. Dayforce Inc has a 12-month low of $47.08 and a 12-month high of $82.69. The business’s fifty day simple moving average is $61.97 and its 200-day simple moving average is $67.83.

Dayforce (NYSE:DAY) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $0.37 earnings per share 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%. On average, equities research analysts anticipate that Dayforce Inc will post 1.48 earnings per share for the current fiscal year.

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.