Plato Investment Management Ltd Cuts Position in Dayforce Inc (NYSE:DAY)

Plato Investment Management Ltd decreased its stake in Dayforce Inc (NYSE:DAY) by 24.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,801 shares of the company’s stock after selling 3,235 shares during the period. Plato Investment Management Ltd’s holdings in Dayforce were worth $600,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Select Equity Group L.P. acquired a new stake in shares of Dayforce during the 2nd quarter valued at approximately $721,310,000. Elo Mutual Pension Insurance Co purchased a new position in Dayforce in the 2nd quarter valued at approximately $673,000. State of New Jersey Common Pension Fund D acquired a new position in Dayforce during the second quarter worth $2,760,000. Vanguard Personalized Indexing Management LLC purchased a new stake in Dayforce during the second quarter worth $663,000. Finally, Royal London Asset Management Ltd. acquired a new stake in Dayforce in the second quarter valued at $2,942,000.

Dayforce Stock Down 0.5 %

Shares of NYSE DAY opened at $76.76 on Friday. The firm has a market cap of $12.11 billion, a P/E ratio of 232.61, a price-to-earnings-growth ratio of 3.71 and a beta of 1.27. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.15 and a current ratio of 1.15. Dayforce Inc has a 1 year low of $47.08 and a 1 year high of $81.32. The firm’s 50 day moving average price is $64.59 and its 200 day moving average price is $57.96.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on DAY. KeyCorp lifted their price target on Dayforce from $80.00 to $92.00 and gave the stock an “overweight” rating in a research note on Wednesday. Barclays raised their target price on shares of Dayforce from $70.00 to $80.00 and gave the company an “equal weight” rating in a report on Wednesday. BMO Capital Markets upped their price target on shares of Dayforce from $80.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday. Mizuho increased their price target on shares of Dayforce from $85.00 to $95.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, Needham & Company LLC lifted their price objective on Dayforce from $82.00 to $95.00 and gave the stock a “buy” rating in a research report on Wednesday. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Dayforce currently has a consensus rating of “Moderate Buy” and a consensus target price of $79.08.

Insiders Place Their Bets

In other news, COO Stephen H. Holdridge sold 2,000 shares of the stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $69.25, for a total transaction of $138,500.00. Following the transaction, the chief operating officer now directly owns 98,437 shares in the company, valued at $6,816,762.25. This represents a 1.99 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jeffrey Scott Jacobs sold 643 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $63.37, for a total transaction of $40,746.91. Following the completion of the sale, the insider now owns 34,074 shares of the company’s stock, valued at approximately $2,159,269.38. The trade was a 1.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,643 shares of company stock valued at $384,617 in the last quarter. 4.90% of the stock is currently owned by company insiders.

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.