Vestcor Inc Sells 20,538 Shares of Dayforce Inc (NYSE:DAY)

Vestcor Inc decreased its holdings in Dayforce Inc (NYSE:DAY - Free Report) by 38.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 33,184 shares of the company's stock after selling 20,538 shares during the period. Vestcor Inc's holdings in Dayforce were worth $2,410,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Dayforce by 18,250.4% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 660,613 shares of the company's stock valued at $47,890,000 after buying an additional 657,013 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. bought a new stake in shares of Dayforce during the 3rd quarter valued at approximately $19,273,000. Principal Financial Group Inc. acquired a new position in Dayforce during the 3rd quarter worth approximately $11,135,000. Wealthfront Advisers LLC bought a new position in Dayforce in the 4th quarter valued at approximately $12,105,000. Finally, EdgePoint Investment Group Inc. boosted its position in Dayforce by 1.1% in the third quarter. EdgePoint Investment Group Inc. now owns 10,624,105 shares of the company's stock valued at $650,726,000 after buying an additional 112,086 shares in the last quarter.

Analysts Set New Price Targets

A number of brokerages have recently commented on DAY. Citigroup dropped their price target on Dayforce from $90.00 to $83.00 and set a "buy" rating for the company in a research note on Thursday, January 16th. Needham & Company LLC reiterated a "buy" rating and issued a $95.00 target price on shares of Dayforce in a research report on Thursday, February 6th. Jefferies Financial Group reduced their price target on Dayforce from $80.00 to $75.00 and set a "hold" rating on the stock in a report on Thursday, February 6th. Barclays dropped their price objective on shares of Dayforce from $80.00 to $69.00 and set an "equal weight" rating for the company in a report on Thursday, February 6th. Finally, TD Cowen raised shares of 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. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $77.86.

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Dayforce Trading Up 0.9 %

Shares of Dayforce stock traded up $0.50 on Wednesday, hitting $57.63. 1,951,394 shares of the company's stock traded hands, compared to its average volume of 1,660,895. The company has a market capitalization of $9.16 billion, a price-to-earnings ratio of 523.96, a price-to-earnings-growth ratio of 2.49 and a beta of 1.33. The company has a fifty day moving average of $65.08 and a two-hundred day moving average of $67.81. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.13 and a quick ratio of 1.15. Dayforce Inc has a one year low of $47.08 and a one year high of $82.69.

Dayforce (NYSE:DAY - Get Free Report) last announced its quarterly earnings data 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, sell-side analysts expect that Dayforce Inc will post 1.48 earnings per share for the current year.

Insider Buying and Selling at Dayforce

In other news, COO Stephen H. Holdridge sold 1,000 shares of the firm's stock in a transaction dated 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 trade represents a 0.83 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 4.90% of the company's stock.

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.