MetLife Investment Management LLC Cuts Stake in Dayforce Inc (NYSE:DAY)

MetLife Investment Management LLC cut its position in Dayforce Inc (NYSE:DAY) by 2.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 41,701 shares of the company’s stock after selling 966 shares during the period. MetLife Investment Management LLC’s holdings in Dayforce were worth $2,554,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the company. Quantbot Technologies LP increased its position in shares of Dayforce by 204.7% in the 3rd quarter. Quantbot Technologies LP now owns 7,870 shares of the company’s stock valued at $482,000 after purchasing an additional 5,287 shares during the last quarter. Daiwa Securities Group Inc. grew its position in shares of Dayforce by 9.3% in the 3rd quarter. Daiwa Securities Group Inc. now owns 27,574 shares of the company’s stock valued at $1,689,000 after buying an additional 2,344 shares during the last quarter. Swedbank AB purchased a new position in shares of Dayforce in the 3rd quarter valued at $5,292,000. Cerity Partners LLC grew its position in shares of Dayforce by 39.7% in the 3rd quarter. Cerity Partners LLC now owns 28,110 shares of the company’s stock valued at $1,722,000 after buying an additional 7,992 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Dayforce by 0.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,395,044 shares of the company’s stock valued at $85,446,000 after buying an additional 8,506 shares during the last quarter.

Dayforce Stock Up 0.2 %

DAY stock opened at $80.69 on Thursday. Dayforce Inc has a one year low of $47.08 and a one year high of $82.69. The stock has a market capitalization of $12.72 billion, a PE ratio of 244.52, a price-to-earnings-growth ratio of 3.82 and a beta of 1.26. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.15 and a current ratio of 1.15. The company has a fifty day moving average of $70.70 and a 200-day moving average of $59.87.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Barclays increased their target price on shares of Dayforce from $70.00 to $80.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 13th. Mizuho increased their target price on shares of Dayforce from $85.00 to $95.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Jefferies Financial Group increased their price target on shares of Dayforce from $55.00 to $65.00 and gave the stock a “hold” rating in a research note on Tuesday, October 22nd. Piper Sandler reiterated an “overweight” rating and set a $94.00 price target (up previously from $82.00) on shares of Dayforce in a research note on Wednesday, November 13th. Finally, Scotiabank started coverage on shares of Dayforce in a research note on Monday, November 18th. They set a “sector perform” rating and a $75.00 price target for the company. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $78.77.

Insider Transactions at Dayforce

In other news, CEO David D. Ossip sold 858,697 shares of the stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $79.55, for a total value of $68,309,346.35. Following the completion of the transaction, the chief executive officer now owns 794,527 shares in the company, valued at $63,204,622.85. This trade represents a 51.94 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Stephen H. Holdridge sold 1,000 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $63.37, for a total transaction of $63,370.00. Following the completion of the transaction, the chief operating officer now owns 101,437 shares of the company’s stock, valued at $6,428,062.69. This represents a 0.98 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 865,340 shares of company stock worth $68,770,223. Company insiders own 4.90% of the company’s stock.

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.