California Public Employees Retirement System Buys 371,153 Shares of Dayforce Inc (NYSE:DAY)

California Public Employees Retirement System boosted its stake in Dayforce Inc (NYSE:DAY) by 189.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 567,561 shares of the company’s stock after buying an additional 371,153 shares during the period. California Public Employees Retirement System owned 0.36% of Dayforce worth $41,228,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Metis Global Partners LLC lifted its stake in shares of Dayforce by 3.8% in the 4th quarter. Metis Global Partners LLC now owns 5,261 shares of the company’s stock valued at $382,000 after purchasing an additional 193 shares during the period. Nomura Asset Management Co. Ltd. boosted its holdings in shares of Dayforce by 0.6% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 43,707 shares of the company’s stock valued at $3,175,000 after buying an additional 277 shares in the last quarter. Xponance Inc. grew its position in shares of Dayforce by 1.6% in the 4th quarter. Xponance Inc. now owns 22,494 shares of the company’s stock worth $1,634,000 after buying an additional 357 shares during the period. 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 in the last quarter. Finally, HighTower Advisors LLC lifted its position in Dayforce by 11.0% during the 3rd quarter. HighTower Advisors LLC now owns 6,083 shares of the company’s stock valued at $368,000 after acquiring an additional 602 shares during the period.

Insider Transactions at Dayforce

In other 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 value of $71,330.00. Following the completion of the sale, 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 transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 4.50% of the company’s stock.

Dayforce Price Performance

Shares of DAY opened at $59.36 on Thursday. The firm has a fifty day simple moving average of $62.63 and a two-hundred day simple moving average of $67.91. The firm has a market cap of $9.39 billion, a PE ratio of 539.69, a P/E/G ratio of 2.49 and a beta of 1.33. The company has a current ratio of 1.13, a quick ratio of 1.15 and a debt-to-equity ratio of 0.47. Dayforce Inc has a 1-year low of $47.08 and a 1-year high of $82.69.

Dayforce (NYSE:DAY) last posted its 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%. On average, equities analysts anticipate that Dayforce Inc will post 1.48 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have weighed in on DAY. Cowen raised shares of Dayforce from a “hold” rating to a “buy” rating in a research note on Friday, March 7th. Needham & Company LLC reaffirmed a “buy” rating and set a $95.00 price objective on shares of Dayforce in a research report on Thursday, February 6th. TD Cowen raised Dayforce from a “hold” rating to a “buy” rating and boosted their target price for the stock from $67.00 to $68.00 in a report on Friday, March 7th. Scotiabank reduced 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, March 17th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $83.00 price target (down previously from $94.00) on shares of Dayforce in a research report on Wednesday, February 5th. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus 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.