New York State Common Retirement Fund Cuts Position in Dayforce Inc (NYSE:DAY)

New York State Common Retirement Fund reduced its position in shares of Dayforce Inc (NYSE:DAY) by 7.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 317,075 shares of the company’s stock after selling 24,838 shares during the period. New York State Common Retirement Fund’s holdings in Dayforce were worth $23,032,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. Principal Financial Group Inc. acquired a new position in Dayforce during the 3rd quarter worth about $11,135,000. Sumitomo Mitsui Trust Group Inc. purchased a new stake in Dayforce during the third quarter worth about $19,273,000. KBC Group NV acquired a new stake in shares of Dayforce during the third quarter worth about $946,000. Adero Partners LLC purchased a new position in shares of Dayforce in the third quarter valued at approximately $4,987,000. Finally, CIBC Asset Management Inc acquired a new position in shares of Dayforce in the third quarter valued at approximately $1,434,000.

Dayforce Stock Down 3.8 %

Shares of NYSE:DAY opened at $64.72 on Friday. The company has a current ratio of 1.13, a quick ratio of 1.15 and a debt-to-equity ratio of 0.47. The firm has a 50 day simple moving average of $70.79 and a 200-day simple moving average of $67.25. The company has a market capitalization of $10.21 billion, a PE ratio of 588.42, a P/E/G ratio of 2.52 and a beta of 1.26. Dayforce Inc has a twelve month low of $47.08 and a twelve month high of $82.69.

Dayforce (NYSE:DAY) last announced its quarterly earnings results 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 net margin of 1.03% and a return on equity of 6.49%. On average, equities analysts predict that Dayforce Inc will post 1.48 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Scotiabank decreased their price target on shares of Dayforce from $75.00 to $72.00 and set a “sector perform” rating for the company in a research report on Thursday, February 6th. Barclays decreased their target price on Dayforce from $80.00 to $69.00 and set an “equal weight” rating for the company in a report on Thursday, February 6th. Stifel Nicolaus lowered their target price on Dayforce from $90.00 to $85.00 and set a “buy” rating for the company in a research note on Thursday, February 6th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $80.00 price target (down previously from $85.00) on shares of Dayforce in a research report on Wednesday, January 8th. Finally, Piper Sandler reissued an “overweight” rating and set a $83.00 price objective (down from $94.00) on shares of Dayforce in a research report on Wednesday, February 5th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $78.64.

Insider Activity

In other news, CEO David D. Ossip sold 858,697 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $79.55, for a total transaction of $68,309,346.35. Following the transaction, the chief executive officer now directly owns 794,527 shares in the company, valued at approximately $63,204,622.85. This trade represents a 51.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Stephen H. Holdridge sold 1,000 shares of the company’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 sale, the chief operating officer now owns 119,022 shares of the company’s stock, valued at approximately $8,489,839.26. This trade represents a 0.83 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 4.90% of the company’s stock.

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.