Blueshift Asset Management LLC Cuts Stock Position in Dayforce Inc (NYSE:DAY)

Blueshift Asset Management LLC lessened its stake in Dayforce Inc (NYSE:DAY) by 84.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,208 shares of the company’s stock after selling 17,826 shares during the quarter. Blueshift Asset Management LLC’s holdings in Dayforce were worth $233,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds 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 valued at about $11,135,000. Smartleaf Asset Management LLC boosted its position in shares of Dayforce by 69.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,227 shares of the company’s stock valued at $89,000 after acquiring an additional 501 shares during the last quarter. Retirement Systems of Alabama acquired a new position in shares of Dayforce during the 3rd quarter valued at about $2,105,000. SG Americas Securities LLC boosted its position in shares of Dayforce by 167.7% during the 4th quarter. SG Americas Securities LLC now owns 19,322 shares of the company’s stock valued at $1,404,000 after acquiring an additional 12,103 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Dayforce by 31.8% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,028 shares of the company’s stock valued at $1,398,000 after acquiring an additional 4,596 shares during the last quarter.

Dayforce Stock Performance

NYSE DAY opened at $58.40 on Friday. The firm has a market capitalization of $9.24 billion, a P/E ratio of 530.94, a P/E/G ratio of 2.49 and a beta of 1.33. Dayforce Inc has a 1-year low of $47.08 and a 1-year high of $82.69. 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 business’s 50-day simple moving average is $64.35 and its 200-day simple moving average is $67.77.

Dayforce (NYSE:DAY) last released its quarterly earnings results 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 predict that Dayforce Inc will post 1.48 EPS for the current year.

Insider Activity

In related news, COO Stephen H. Holdridge sold 1,000 shares of the company’s stock in a transaction 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 directly owns 119,022 shares in the company, valued at $8,489,839.26. This represents a 0.83 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 4.90% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on DAY shares. Jefferies Financial Group decreased their target price on shares of Dayforce from $80.00 to $75.00 and set a “hold” rating on the stock in a research report on Thursday, February 6th. Cowen raised shares of Dayforce from a “hold” rating to a “buy” rating in a research report on Friday, March 7th. Scotiabank decreased their target price on shares of Dayforce from $72.00 to $55.00 and set a “sector perform” rating on the stock in a research report on Monday, March 17th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $80.00 target price (down previously from $85.00) on shares of Dayforce in a research report on Wednesday, January 8th. Finally, Citigroup decreased their target price on shares of Dayforce from $90.00 to $83.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $77.86.

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.