Retirement Systems of Alabama Takes $2.11 Million Position in Dayforce Inc (NYSE:DAY)

Retirement Systems of Alabama bought a new position in shares of Dayforce Inc (NYSE:DAY) during the 3rd quarter, HoldingsChannel reports. The institutional investor bought 34,372 shares of the company’s stock, valued at approximately $2,105,000.

Several other institutional investors also recently modified their holdings of the business. Candriam S.C.A. acquired a new stake in shares of Dayforce in the second quarter valued at about $6,027,000. New Mexico Educational Retirement Board bought a new stake in Dayforce during the second quarter valued at $392,000. Acadian Asset Management LLC acquired a new stake in Dayforce during the 2nd quarter worth about $287,000. Prudential PLC acquired a new position in shares of Dayforce in the 2nd quarter valued at about $490,000. Finally, Texas Permanent School Fund Corp bought a new stake in shares of Dayforce during the 2nd quarter valued at about $1,281,000.

Analysts Set New Price Targets

DAY has been the subject of a number of research analyst reports. Barclays lifted their target price on Dayforce from $80.00 to $84.00 and gave the stock an “equal weight” rating in a report on Friday, December 6th. Stifel Nicolaus raised their price target on shares of Dayforce from $82.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday. KeyCorp increased their price objective on shares of Dayforce from $80.00 to $92.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Scotiabank started coverage on Dayforce in a research report on Monday, November 18th. They issued a “sector perform” rating and a $75.00 target price for the company. Finally, Piper Sandler reiterated an “overweight” rating and issued a $94.00 price target (up previously from $82.00) on shares of Dayforce in a report on Wednesday, November 13th. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $79.86.

Insiders Place Their Bets

In related news, insider Jeffrey Scott Jacobs sold 643 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $63.37, for a total transaction of $40,746.91. Following the transaction, the insider now directly owns 34,074 shares of the company’s stock, valued at $2,159,269.38. This trade represents a 1.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO David D. Ossip sold 858,697 shares of the company’s 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 completion of the sale, the chief executive officer now directly 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. Insiders have sold 865,340 shares of company stock valued at $68,770,223 in the last three months. 4.90% of the stock is currently owned by insiders.

Dayforce Trading Up 1.1 %

Shares of Dayforce stock opened at $74.84 on Friday. The company 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. The stock has a fifty day simple moving average of $74.48 and a 200 day simple moving average of $61.59. Dayforce Inc has a 12-month low of $47.08 and a 12-month high of $82.69. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.47.

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.