Plato Investment Management Ltd Reduces Stock Position in Dayforce Inc (NYSE:DAY)

Plato Investment Management Ltd cut its holdings in Dayforce Inc (NYSE:DAY) by 24.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,801 shares of the company’s stock after selling 3,235 shares during the period. Plato Investment Management Ltd’s holdings in Dayforce were worth $600,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Bleakley Financial Group LLC raised its position in shares of Dayforce by 9.9% during the 3rd quarter. Bleakley Financial Group LLC now owns 4,867 shares of the company’s stock worth $298,000 after acquiring an additional 439 shares in the last quarter. Quent Capital LLC purchased a new position in Dayforce in the third quarter valued at approximately $28,000. Financial Perspectives Inc acquired a new stake in Dayforce during the second quarter worth approximately $28,000. State of New Jersey Common Pension Fund D lifted its position in shares of Dayforce by 1.1% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 56,294 shares of the company’s stock worth $3,448,000 after buying an additional 640 shares during the last quarter. Finally, Farther Finance Advisors LLC acquired a new position in shares of Dayforce in the 3rd quarter valued at $40,000.

Dayforce Trading Down 0.5 %

Shares of DAY stock opened at $76.76 on Friday. The company has a market capitalization of $12.11 billion, a P/E ratio of 232.61, a price-to-earnings-growth ratio of 3.71 and a beta of 1.27. 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 business’s 50 day moving average is $64.59 and its two-hundred day moving average is $57.96. Dayforce Inc has a twelve month low of $47.08 and a twelve month high of $81.32.

Insider Buying and Selling

In other news, insider Jeffrey Scott Jacobs sold 643 shares of the business’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 in the company, valued at $2,159,269.38. The trade was a 1.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Stephen H. Holdridge sold 1,000 shares of the firm’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $65.00, for a total transaction of $65,000.00. Following the completion of the sale, the chief operating officer now owns 100,437 shares of the company’s stock, valued at approximately $6,528,405. The trade was a 0.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,643 shares of company stock valued at $384,617 over the last three months. 4.90% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on DAY shares. Mizuho lifted their price target on shares of Dayforce from $85.00 to $95.00 and gave the stock an “outperform” rating in a research note on Wednesday. Barclays raised their price objective on Dayforce from $70.00 to $80.00 and gave the stock an “equal weight” rating in a report on Wednesday. Needham & Company LLC boosted their target price on Dayforce from $82.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday. BMO Capital Markets raised their price target on Dayforce from $80.00 to $90.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, Citigroup lifted their price target on Dayforce from $75.00 to $81.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $79.08.

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.