OVERSEA CHINESE BANKING Corp Ltd Has $6.39 Million Stake in Dayforce Inc (NYSE:DAY)

OVERSEA CHINESE BANKING Corp Ltd decreased its position in shares of Dayforce Inc (NYSE:DAY) by 0.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 87,940 shares of the company’s stock after selling 177 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd owned approximately 0.06% of Dayforce worth $6,388,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. KBC Group NV bought a new position in Dayforce during the 3rd quarter worth $946,000. CIBC Asset Management Inc bought a new position in Dayforce during the 3rd quarter worth $1,434,000. Swiss National Bank raised its position in Dayforce by 7.1% during the 3rd quarter. Swiss National Bank now owns 468,600 shares of the company’s stock worth $28,702,000 after purchasing an additional 31,000 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in Dayforce during the 3rd quarter worth $217,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in Dayforce during the 3rd quarter worth $220,000.

Insider Buying and Selling at Dayforce

In other news, COO Stephen H. Holdridge sold 1,000 shares of the business’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 value of $71,330.00. Following the transaction, the chief operating officer now owns 119,022 shares in the company, valued at $8,489,839.26. The trade was a 0.83 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 4.90% of the company’s stock.

Wall Street Analysts Forecast Growth

DAY has been the subject of several analyst reports. 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 report on Thursday, February 6th. Jefferies Financial Group lowered their target price on Dayforce from $80.00 to $75.00 and set a “hold” rating for the company in a research report on Thursday, February 6th. Cowen raised Dayforce from a “hold” rating to a “buy” rating in a research report on Friday, March 7th. Citigroup lowered their price objective on Dayforce from $90.00 to $83.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $95.00 price objective on shares of Dayforce in a research report on Thursday, February 6th. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $77.86.

Dayforce Price Performance

DAY stock opened at $57.15 on Wednesday. The company has a market capitalization of $9.08 billion, a P/E ratio of 519.59, a price-to-earnings-growth ratio of 2.49 and a beta of 1.33. 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 Inc has a 52-week low of $47.08 and a 52-week high of $82.69. The business has a 50-day simple moving average of $65.08 and a two-hundred day simple moving average of $67.81.

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