The Manufacturers Life Insurance Company Decreases Stake in Dayforce Inc (NYSE:DAY)

The Manufacturers Life Insurance Company reduced its stake in shares of Dayforce Inc (NYSE:DAY) by 2.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 119,904 shares of the company’s stock after selling 2,508 shares during the period. The Manufacturers Life Insurance Company’s holdings in Dayforce were worth $7,336,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in DAY. Select Equity Group L.P. acquired a new stake in Dayforce during the 2nd quarter worth about $721,310,000. EdgePoint Investment Group Inc. purchased a new position in shares of Dayforce in the second quarter worth about $521,396,000. Dragoneer Investment Group LLC acquired a new stake in shares of Dayforce during the second quarter worth about $193,274,000. Dimensional Fund Advisors LP purchased a new stake in Dayforce in the second quarter valued at approximately $51,027,000. Finally, Cannae Holdings Inc. purchased a new stake in Dayforce in the second quarter valued at approximately $49,600,000.

Insider Buying and Selling at Dayforce

In other Dayforce news, insider Jeffrey Scott Jacobs sold 643 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $63.37, for a total transaction of $40,746.91. Following the completion of the transaction, the insider now owns 34,074 shares of the company’s stock, valued at $2,159,269.38. This represents a 1.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Stephen H. Holdridge sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $63.37, for a total value of $63,370.00. Following the completion of the transaction, the chief operating officer now owns 101,437 shares in the company, valued at approximately $6,428,062.69. This trade represents a 0.98 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 865,340 shares of company stock valued at $68,770,223 over the last ninety days. Corporate insiders own 4.90% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Jefferies Financial Group raised their price target on shares of Dayforce from $55.00 to $65.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. BMO Capital Markets boosted their target price on shares of Dayforce from $80.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Citigroup increased 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. KeyCorp upped their target price on Dayforce from $80.00 to $92.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Finally, Mizuho lifted their price target on Dayforce from $85.00 to $95.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Six equities 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.com, the company currently has an average rating of “Moderate Buy” and an average target price of $78.77.

Dayforce Trading Up 0.2 %

Shares of NYSE:DAY opened at $80.69 on Thursday. The business’s 50 day moving average price is $70.70 and its 200-day moving average price is $59.87. Dayforce Inc has a 1 year low of $47.08 and a 1 year high of $82.69. The firm has a market capitalization of $12.72 billion, a price-to-earnings 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 current ratio of 1.15 and a quick ratio of 1.15.

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.