Dayforce Inc (NYSE:DAY) Holdings Raised by California Public Employees Retirement System

California Public Employees Retirement System raised its holdings in Dayforce Inc (NYSE:DAY - Free Report) by 189.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 567,561 shares of the company's stock after purchasing an additional 371,153 shares during the period. California Public Employees Retirement System owned about 0.36% of Dayforce worth $41,228,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Quarry LP acquired a new position in Dayforce in the third quarter worth about $51,000. Harvest Fund Management Co. Ltd bought a new position in Dayforce during the 4th quarter worth approximately $61,000. AlphaQuest LLC grew its position in shares of Dayforce by 14,800.0% in the 4th quarter. AlphaQuest LLC now owns 1,043 shares of the company's stock worth $76,000 after acquiring an additional 1,036 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings 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 valued at $89,000 after acquiring an additional 501 shares during the last quarter. Finally, National Bank of Canada FI acquired a new stake in shares of Dayforce during the 3rd quarter valued at approximately $179,000.

Analyst Ratings Changes

A number of research firms have commented on DAY. Cowen raised shares of Dayforce from a "hold" rating to a "buy" rating in a report on Friday, March 7th. Piper Sandler reaffirmed an "overweight" rating and set a $83.00 price objective (down previously from $94.00) on shares of Dayforce in a research report on Wednesday, February 5th. Scotiabank dropped their price objective on shares of Dayforce from $72.00 to $55.00 and set a "sector perform" rating on the stock in a research note on Monday, March 17th. Needham & Company LLC restated a "buy" rating and issued a $95.00 target price on shares of Dayforce in a research note on Thursday, February 6th. Finally, TD Cowen upgraded Dayforce from a "hold" rating to a "buy" rating and increased their price target for the stock from $67.00 to $68.00 in a research report on Friday, March 7th. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, Dayforce currently has an average rating of "Moderate Buy" and an average target price of $77.86.

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Insider Activity at Dayforce

In related news, COO Stephen H. Holdridge sold 1,000 shares of the stock in a transaction that occurred 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 completion of the sale, the chief operating officer now directly owns 119,022 shares of the company's stock, valued at $8,489,839.26. This represents a 0.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 4.50% of the company's stock.

Dayforce Price Performance

Dayforce stock traded down $0.31 during trading hours on Monday, hitting $51.19. 3,123,824 shares of the company traded hands, compared to its average volume of 1,732,003. The firm's 50-day simple moving average is $61.54 and its two-hundred day simple moving average is $67.83. The firm has a market cap of $8.10 billion, a P/E ratio of 465.36, a P/E/G ratio of 2.49 and a beta of 1.20. Dayforce Inc has a 1-year low of $47.08 and a 1-year high of $82.69. 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 - Get Free Report) last announced its 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%. As a group, analysts forecast that Dayforce Inc will post 1.48 earnings per share for the current fiscal year.

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.