Sumitomo Mitsui DS Asset Management Company Ltd Grows Stock Holdings in Dayforce Inc (NYSE:DAY)

Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of Dayforce Inc (NYSE:DAY) by 46.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 19,900 shares of the company’s stock after buying an additional 6,314 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Dayforce were worth $1,446,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Farther Finance Advisors LLC bought a new stake in shares of Dayforce in the 3rd quarter valued at about $40,000. Quarry LP purchased a new position in Dayforce during the third quarter valued at approximately $51,000. Livforsakringsbolaget Skandia Omsesidigt purchased a new position in Dayforce during the third quarter valued at approximately $74,000. Blue Trust Inc. bought a new position in Dayforce in the third quarter worth approximately $91,000. Finally, Signaturefd LLC purchased a new stake in Dayforce during the third quarter worth $96,000.

Dayforce Price Performance

NYSE DAY opened at $65.25 on Wednesday. The company has a market cap of $10.29 billion, a price-to-earnings ratio of 593.24, a PEG ratio of 2.41 and a beta of 1.26. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.13 and a quick ratio of 1.15. The stock’s fifty day moving average price is $72.73 and its 200 day moving average price is $66.76. Dayforce Inc has a 1 year low of $47.08 and a 1 year high of $82.69.

Dayforce (NYSE:DAY) last announced 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 net margin of 1.03% and a return on equity of 6.49%. As a group, equities research analysts forecast that Dayforce Inc will post 1.41 earnings per share for the current year.

Insiders Place Their Bets

In other news, COO Stephen H. Holdridge sold 1,000 shares of the business’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $71.33, for a total value 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. The trade was a 0.83 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO David D. Ossip sold 858,697 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $79.55, for a total value of $68,309,346.35. Following the sale, 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 860,697 shares of company stock valued at $68,456,936. 4.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on DAY. Jefferies Financial Group cut their price target on Dayforce from $80.00 to $75.00 and set a “hold” rating on the stock in a report on Thursday, February 6th. Citigroup reduced their target price on shares of Dayforce from $90.00 to $83.00 and set a “buy” rating for the company in a report on Thursday, January 16th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $80.00 price target (down from $85.00) on shares of Dayforce in a research report on Wednesday, January 8th. KeyCorp lifted their price objective on shares of Dayforce from $80.00 to $92.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Finally, Mizuho increased their target price on shares of Dayforce from $85.00 to $95.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $78.64.

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.