Retirement Systems of Alabama Makes New Investment in Dayforce Inc (NYSE:DAY)

Retirement Systems of Alabama acquired a new stake in shares of Dayforce Inc (NYSE:DAY - Free Report) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm acquired 34,372 shares of the company's stock, valued at approximately $2,105,000.

A number of other large investors also recently modified their holdings of the company. Financial Perspectives Inc purchased a new stake in shares of Dayforce in the second quarter worth about $28,000. Quent Capital LLC bought a new stake in Dayforce in the third quarter worth $28,000. Sentry Investment Management LLC purchased a new stake in Dayforce during the second quarter valued at $33,000. Farther Finance Advisors LLC purchased a new position in shares of Dayforce in the 3rd quarter worth $40,000. Finally, Quarry LP purchased a new stake in shares of Dayforce during the 3rd quarter valued at about $51,000.

Insider Buying and Selling

In other Dayforce news, CEO David D. Ossip sold 858,697 shares of the stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $79.55, for a total transaction of $68,309,346.35. Following the sale, the chief executive officer now directly owns 794,527 shares of the company's stock, valued at approximately $63,204,622.85. This trade represents a 51.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Stephen H. Holdridge sold 1,000 shares of Dayforce stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $76.26, for a total value of $76,260.00. Following the transaction, the chief operating officer now owns 121,022 shares of the company's stock, valued at $9,229,137.72. The trade was a 0.82 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 865,340 shares of company stock valued at $68,770,223 over the last quarter. 4.90% of the stock is currently owned by company insiders.

Dayforce Stock Performance

Shares of NYSE:DAY traded up $0.84 on Friday, hitting $74.84. 3,705,217 shares of the company were exchanged, compared to its average volume of 1,609,674. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.47. The stock's 50 day moving average price is $74.48 and its 200 day moving average price is $61.67. Dayforce Inc has a 1-year low of $47.08 and a 1-year high of $82.69. The firm has a market capitalization of $11.80 billion, a P/E ratio of 226.79, a price-to-earnings-growth ratio of 3.68 and a beta of 1.26.

Analyst Ratings Changes

Several equities research analysts have weighed in on DAY shares. KeyCorp boosted their price objective on Dayforce from $80.00 to $92.00 and gave the stock an "overweight" rating in a research note on Wednesday, November 13th. Mizuho increased their target price on shares of Dayforce from $85.00 to $95.00 and gave the company an "outperform" rating in a research note on Wednesday, November 13th. Needham & Company LLC lifted their price target on shares of Dayforce from $82.00 to $95.00 and gave the stock a "buy" rating in a research note on Wednesday, November 13th. Stifel Nicolaus upped their price target on shares of Dayforce from $82.00 to $90.00 and gave the company a "buy" rating in a report on Wednesday. Finally, Jefferies Financial Group raised their price objective on shares of Dayforce from $55.00 to $65.00 and gave the stock a "hold" rating in a research note on Tuesday, October 22nd. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $79.86.

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.