Securian Asset Management Inc. Cuts Stake in Dayforce Inc (NYSE:DAY)

Securian Asset Management Inc. lowered its position in Dayforce Inc (NYSE:DAY) by 3.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,405 shares of the company’s stock after selling 267 shares during the quarter. Securian Asset Management Inc.’s holdings in Dayforce were worth $611,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of DAY. Principal Financial Group Inc. purchased a new stake in Dayforce in the third quarter worth approximately $11,135,000. Sumitomo Mitsui Trust Group Inc. purchased a new stake in shares of Dayforce during the third quarter valued at approximately $19,273,000. KBC Group NV purchased a new stake in shares of Dayforce during the third quarter valued at approximately $946,000. CIBC Asset Management Inc purchased a new stake in shares of Dayforce during the third quarter valued at approximately $1,434,000. Finally, Empirical Finance LLC purchased a new stake in shares of Dayforce during the third quarter valued at approximately $236,000.

Insiders Place Their Bets

In other news, COO Stephen H. Holdridge sold 1,000 shares of the firm’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 transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 4.90% of the stock is owned by corporate insiders.

Dayforce Price Performance

DAY opened at $55.45 on Monday. The stock has a fifty day simple moving average of $65.69 and a two-hundred day simple moving average of $67.82. The company has a current ratio of 1.13, a quick ratio of 1.15 and a debt-to-equity ratio of 0.47. The company has a market cap of $8.81 billion, a price-to-earnings ratio of 504.12, a price-to-earnings-growth ratio of 2.49 and a beta of 1.33. Dayforce Inc has a 12-month low of $47.08 and a 12-month high of $82.69.

Dayforce (NYSE:DAY) last posted its quarterly earnings data 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%. Research analysts predict that Dayforce Inc will post 1.48 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Needham & Company LLC reissued a “buy” rating and set a $95.00 price objective on shares of Dayforce in a research note on Thursday, February 6th. Cowen raised Dayforce from a “hold” rating to a “buy” rating in a research note on Friday, March 7th. TD Cowen raised Dayforce from a “hold” rating to a “buy” rating and increased their price objective for the company from $67.00 to $68.00 in a research note on Friday, March 7th. Jefferies Financial Group dropped their price objective on Dayforce from $80.00 to $75.00 and set a “hold” rating for the company in a research note on Thursday, February 6th. Finally, Piper Sandler restated an “overweight” rating and set a $83.00 target price (down previously from $94.00) on shares of Dayforce in a report on Wednesday, February 5th. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $79.07.

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.