Dayforce Inc (NYSE:DAY) Shares Sold by Vestcor Inc

Vestcor Inc cut its holdings in Dayforce Inc (NYSE:DAY) by 38.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 33,184 shares of the company’s stock after selling 20,538 shares during the period. Vestcor Inc’s holdings in Dayforce were worth $2,410,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in DAY. Principal Financial Group Inc. purchased a new stake in Dayforce in the third quarter valued at approximately $11,135,000. KBC Group NV purchased a new stake in shares of Dayforce during the 3rd quarter valued at $946,000. Sumitomo Mitsui Trust Group Inc. purchased a new stake in shares of Dayforce during the 3rd quarter valued at $19,273,000. Adero Partners LLC acquired a new stake in shares of Dayforce during the 3rd quarter worth $4,987,000. Finally, Smartleaf Asset Management LLC raised its position in shares of Dayforce by 69.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,227 shares of the company’s stock worth $89,000 after buying an additional 501 shares during the period.

Insider Transactions at Dayforce

In other news, COO Stephen H. Holdridge sold 1,000 shares of the company’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 transaction of $71,330.00. Following the completion of the transaction, the chief operating officer now directly owns 119,022 shares of the company’s stock, valued at approximately $8,489,839.26. This represents a 0.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 4.90% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on DAY. Piper Sandler restated an “overweight” rating and set a $83.00 price target (down from $94.00) on shares of Dayforce in a research note on Wednesday, February 5th. Barclays cut their price target on shares of Dayforce from $80.00 to $69.00 and set an “equal weight” rating on the stock in a report on Thursday, February 6th. Jefferies Financial Group decreased their price objective on shares of Dayforce from $80.00 to $75.00 and set a “hold” rating for the company in a research note on Thursday, February 6th. TD Cowen raised shares of Dayforce from a “hold” rating to a “buy” rating and increased their price objective for the stock from $67.00 to $68.00 in a research report on Friday, March 7th. Finally, Needham & Company LLC restated a “buy” rating and set a $95.00 target price on shares of Dayforce in a report on Thursday, February 6th. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $79.07.

Dayforce Stock Performance

Shares of DAY stock opened at $55.45 on Friday. The stock has a market capitalization of $8.81 billion, a price-to-earnings ratio of 504.12, a PEG ratio of 2.49 and a beta of 1.33. Dayforce Inc has a one year low of $47.08 and a one year high of $82.69. The company’s 50-day simple moving average is $65.69 and its 200-day simple moving average is $67.68. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.15 and a current ratio of 1.13.

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

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.