Public Sector Pension Investment Board Sells 500 Shares of Dayforce Inc (NYSE:DAY)

Public Sector Pension Investment Board lowered its position in shares of Dayforce Inc (NYSE:DAY) by 6.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,929 shares of the company’s stock after selling 500 shares during the period. Public Sector Pension Investment Board’s holdings in Dayforce were worth $424,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Select Equity Group L.P. purchased a new position in shares of Dayforce during the second quarter worth about $721,310,000. EdgePoint Investment Group Inc. purchased a new position in Dayforce in the 2nd quarter worth approximately $521,396,000. Dragoneer Investment Group LLC bought a new position in shares of Dayforce in the 2nd quarter worth $193,274,000. Dimensional Fund Advisors LP bought a new stake in shares of Dayforce during the 2nd quarter worth $51,027,000. Finally, Cannae Holdings Inc. purchased a new position in Dayforce in the second quarter worth $49,600,000.

Dayforce Price Performance

Shares of Dayforce stock opened at $78.56 on Monday. The company’s fifty day simple moving average is $71.43 and its two-hundred day simple moving average is $60.08. Dayforce Inc has a 12-month low of $47.08 and a 12-month high of $82.69. The firm has a market cap of $12.39 billion, a PE ratio of 238.07, a price-to-earnings-growth ratio of 3.79 and a beta of 1.26. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.47.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on DAY shares. Scotiabank assumed coverage on Dayforce in a research report on Monday, November 18th. They set a “sector perform” rating and a $75.00 price target on the stock. TD Cowen boosted their target price on Dayforce from $58.00 to $62.00 and gave the stock a “hold” rating in a research report on Monday, October 7th. Citigroup increased their price target on shares of Dayforce from $75.00 to $81.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Needham & Company LLC boosted their price objective on shares of Dayforce from $82.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Finally, Barclays increased their target price on shares of Dayforce from $80.00 to $84.00 and gave the company an “equal weight” rating in a report on Friday. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $79.08.

Insider Transactions at Dayforce

In related news, CEO David D. Ossip sold 858,697 shares of Dayforce stock in a transaction on 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 sale, the chief executive officer now owns 794,527 shares in the company, valued at $63,204,622.85. The trade was a 51.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Stephen H. Holdridge sold 2,000 shares of the company’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $69.25, for a total transaction of $138,500.00. Following the completion of the transaction, the chief operating officer now owns 98,437 shares of the company’s stock, valued at $6,816,762.25. This trade represents a 1.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, 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.