Sumitomo Mitsui Trust Group Inc. Takes $19.27 Million Position in Dayforce Inc (NYSE:DAY)

Sumitomo Mitsui Trust Group Inc. purchased a new stake in Dayforce Inc (NYSE:DAY) during the third quarter, Holdings Channel reports. The institutional investor purchased 314,667 shares of the company’s stock, valued at approximately $19,273,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in DAY. Select Equity Group L.P. acquired a new position in shares of Dayforce during the second quarter valued at approximately $721,310,000. EdgePoint Investment Group Inc. acquired a new position in Dayforce in the 2nd quarter valued at $521,396,000. Dragoneer Investment Group LLC purchased a new position in Dayforce in the 2nd quarter valued at $193,274,000. Dimensional Fund Advisors LP acquired a new stake in Dayforce during the 2nd quarter worth $51,027,000. Finally, Cannae Holdings Inc. purchased a new stake in shares of Dayforce during the second quarter worth $49,600,000.

Insider Transactions at Dayforce

In other Dayforce 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 sale, the insider now directly owns 34,074 shares in the company, valued at $2,159,269.38. This represents a 1.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Stephen H. Holdridge sold 1,000 shares of the stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $63.37, for a total transaction of $63,370.00. Following the sale, the chief operating officer now directly owns 101,437 shares in the company, 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 three months, insiders have sold 5,643 shares of company stock worth $384,617. 4.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on DAY shares. BMO Capital Markets boosted their price target on shares of Dayforce from $80.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Needham & Company LLC upped their price target on Dayforce from $82.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft lifted their price objective on Dayforce from $70.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Jefferies Financial Group upped their target price on Dayforce from $55.00 to $65.00 and gave the company a “hold” rating in a report on Tuesday, October 22nd. Finally, Mizuho lifted their price target on Dayforce from $85.00 to $95.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Five 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, Dayforce has an average rating of “Moderate Buy” and a consensus target price of $79.08.

Dayforce Trading Down 2.8 %

NYSE DAY opened at $74.56 on Monday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.15 and a quick ratio of 1.15. The stock has a market capitalization of $11.76 billion, a P/E ratio of 225.95, a PEG ratio of 3.50 and a beta of 1.27. The firm’s 50-day moving average is $65.44 and its two-hundred day moving average is $58.15. Dayforce Inc has a 12 month low of $47.08 and a 12 month high of $81.32.

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.