Sumitomo Mitsui Trust Group Inc. Purchases New Holdings in Dayforce Inc (NYSE:DAY)

Sumitomo Mitsui Trust Group Inc. acquired a new position in shares of Dayforce Inc (NYSE:DAY - Free Report) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 314,667 shares of the company's stock, valued at approximately $19,273,000. Sumitomo Mitsui Trust Group Inc. owned 0.20% of Dayforce at the end of the most recent quarter.

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

Insider Activity

In other Dayforce news, COO Stephen H. Holdridge sold 1,000 shares of the firm's stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $77.00, for a total value of $77,000.00. Following the completion of the sale, the chief operating officer now owns 122,022 shares in the company, valued at approximately $9,395,694. This trade represents a 0.81 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jeffrey Scott Jacobs sold 643 shares of the business's stock in a transaction 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 directly owns 34,074 shares in the company, valued at $2,159,269.38. This trade represents a 1.85 % decrease in their position. 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 over the last 90 days. 4.90% of the stock is currently owned by company insiders.

Dayforce Stock Up 0.1 %

Shares of DAY traded up $0.05 during trading hours on Monday, hitting $74.61. 234,103 shares of the company were exchanged, compared to its average volume of 1,604,143. The firm's 50 day moving average is $65.44 and its 200-day moving average is $58.15. 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 52 week low of $47.08 and a 52 week high of $81.32. The company has a market cap of $11.77 billion, a PE ratio of 225.95, a PEG ratio of 3.50 and a beta of 1.27.

Wall Street Analysts Forecast Growth

DAY has been the subject of a number of research reports. TD Cowen lifted their price objective on Dayforce from $58.00 to $62.00 and gave the company a "hold" rating in a research note on Monday, October 7th. Barclays lifted their price objective on shares of Dayforce from $70.00 to $80.00 and gave the company an "equal weight" rating in a report on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft lifted their target price on Dayforce from $70.00 to $75.00 and gave the company a "buy" rating in a report on Thursday, August 1st. Citigroup raised their price target on Dayforce from $75.00 to $81.00 and gave the stock a "buy" rating in a research note on Thursday, October 31st. Finally, KeyCorp upped their price target on shares of Dayforce from $80.00 to $92.00 and gave the company an "overweight" rating in a research report on Wednesday, November 13th. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $79.08.

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.