Swiss National Bank Decreases Stock Position in Dayforce Inc (NYSE:DAY)

Swiss National Bank reduced its position in Dayforce Inc (NYSE:DAY) by 4.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 446,600 shares of the company’s stock after selling 22,000 shares during the quarter. Swiss National Bank’s holdings in Dayforce were worth $32,441,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Principal Financial Group Inc. acquired a new position in shares of Dayforce during the 3rd quarter worth approximately $11,135,000. KBC Group NV acquired a new position in Dayforce during the third quarter worth $946,000. Sumitomo Mitsui Trust Group Inc. purchased a new stake in Dayforce in the 3rd quarter valued at $19,273,000. Smartleaf Asset Management LLC increased its stake 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 acquiring an additional 501 shares during the last quarter. Finally, CIBC Asset Management Inc purchased a new position in shares of Dayforce during the 3rd quarter worth $1,434,000.

Insider Activity at Dayforce

In related news, COO Stephen H. Holdridge sold 1,000 shares of Dayforce 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 sale, the chief operating officer now directly owns 119,022 shares in the company, valued at $8,489,839.26. This trade represents a 0.83 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 4.90% of the stock is currently owned by corporate insiders.

Dayforce Trading Up 2.8 %

NYSE DAY opened at $56.92 on Tuesday. Dayforce Inc has a 52 week low of $47.08 and a 52 week high of $82.69. The firm has a 50 day moving average of $65.36 and a two-hundred day moving average of $67.81. The stock has a market capitalization of $9.05 billion, a PE ratio of 517.54, a price-to-earnings-growth ratio of 2.49 and a beta of 1.33. The company has a quick ratio of 1.15, a current ratio of 1.13 and a debt-to-equity ratio of 0.47.

Dayforce (NYSE:DAY) last posted 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%. As a group, research analysts expect that Dayforce Inc will post 1.48 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on DAY shares. Piper Sandler restated 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. TD Cowen raised shares of Dayforce from a “hold” rating to a “buy” rating and lifted their price target for the company from $67.00 to $68.00 in a research report on Friday, March 7th. Barclays cut their target price on Dayforce from $80.00 to $69.00 and set an “equal weight” rating for the company in a research note on Thursday, February 6th. Jefferies Financial Group reduced their target price on Dayforce from $80.00 to $75.00 and set a “hold” rating on the stock in a research report on Thursday, February 6th. Finally, Scotiabank lowered their price target on Dayforce from $72.00 to $55.00 and set a “sector perform” rating for the company in a report on Monday. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $77.86.

Dayforce Company 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.