Sumitomo Mitsui DS Asset Management Company Ltd Purchases 6,314 Shares of Dayforce Inc (NYSE:DAY)

Sumitomo Mitsui DS Asset Management Company Ltd grew its position in Dayforce Inc (NYSE:DAY) by 46.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,900 shares of the company’s stock after purchasing an additional 6,314 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Dayforce were worth $1,446,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Insider Buying and Selling

In other Dayforce 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 transaction of $71,330.00. Following the completion of 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO David D. Ossip sold 858,697 shares of the company’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 value 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 represents a 51.94 % decrease in their position. 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. Company insiders own 4.90% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on DAY. Stifel Nicolaus dropped their price target on Dayforce from $90.00 to $85.00 and set a “buy” rating for the company in a research note on Thursday, February 6th. Mizuho upped their target price on shares of Dayforce from $85.00 to $95.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. KeyCorp lifted their price target on shares of Dayforce from $80.00 to $92.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Scotiabank decreased their price target on shares of Dayforce from $75.00 to $72.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 6th. Finally, BMO Capital Markets raised their price objective on Dayforce from $80.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Dayforce has an average rating of “Moderate Buy” and an average target price of $78.64.

Dayforce Price Performance

Shares of Dayforce stock opened at $65.25 on Wednesday. The stock has a market cap of $10.29 billion, a price-to-earnings ratio of 593.24, a price-to-earnings-growth ratio of 2.41 and a beta of 1.26. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.15 and a current ratio of 1.13. The stock has a 50 day moving average price of $72.73 and a 200-day moving average price of $66.76. Dayforce Inc has a one year low of $47.08 and a one year high of $82.69.

Dayforce (NYSE:DAY) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.09). Dayforce had a return on equity of 6.49% and a net margin of 1.03%. Equities analysts expect that Dayforce Inc will post 1.41 EPS for the current 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.