Sumitomo Mitsui DS Asset Management Company Ltd Buys 6,314 Shares of Dayforce Inc (NYSE:DAY)

Sumitomo Mitsui DS Asset Management Company Ltd grew its position in Dayforce Inc (NYSE:DAY - Free Report) by 46.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 19,900 shares of the company's stock after buying an additional 6,314 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Dayforce were worth $1,446,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. New York State Common Retirement Fund acquired a new position in Dayforce in the third quarter valued at about $20,942,000. Sumitomo Mitsui Trust Group Inc. bought a new stake in Dayforce during the third quarter worth about $19,273,000. Principal Financial Group Inc. bought a new stake in Dayforce during the third quarter worth about $11,135,000. EdgePoint Investment Group Inc. raised its holdings in Dayforce by 1.1% during the third quarter. EdgePoint Investment Group Inc. now owns 10,624,105 shares of the company's stock worth $650,726,000 after acquiring an additional 112,086 shares in the last quarter. Finally, New York State Teachers Retirement System bought a new stake in Dayforce during the third quarter worth about $6,639,000.

Dayforce Stock Performance

Shares of Dayforce stock traded down $0.22 on Friday, hitting $66.47. The stock had a trading volume of 1,344,530 shares, compared to its average volume of 1,812,263. The stock has a market cap of $10.48 billion, a price-to-earnings ratio of 604.28, a price-to-earnings-growth ratio of 2.41 and a beta of 1.26. Dayforce Inc has a twelve month low of $47.08 and a twelve month 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. The business's 50 day moving average is $71.66 and its two-hundred day moving average is $67.02.

Dayforce (NYSE:DAY - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.46 by ($0.09). Dayforce had a return on equity of 6.49% and a net margin of 1.03%. Analysts forecast that Dayforce Inc will post 1.41 EPS for the current year.

Insider Buying and Selling

In other Dayforce 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 transaction 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David D. Ossip sold 858,697 shares of the company's stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $79.55, for a total value of $68,309,346.35. Following the sale, the chief executive officer now owns 794,527 shares of the company's stock, valued at $63,204,622.85. The trade was a 51.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.90% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Mizuho upped their target price on Dayforce from $85.00 to $95.00 and gave the stock an "outperform" rating in a report on Wednesday, November 13th. Barclays dropped their price objective on Dayforce from $80.00 to $69.00 and set an "equal weight" rating on the stock in a research note on Thursday, February 6th. Needham & Company LLC restated a "buy" rating and issued a $95.00 price objective on shares of Dayforce in a research note on Thursday, February 6th. Piper Sandler restated an "overweight" rating and issued a $83.00 price objective (down previously from $94.00) on shares of Dayforce in a research note on Wednesday, February 5th. Finally, Citigroup dropped their price objective on Dayforce from $90.00 to $83.00 and set a "buy" rating on the stock in a research note on Thursday, January 16th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Dayforce presently has an average rating of "Moderate Buy" and a consensus target price of $78.64.

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.