Capital Research Global Investors Sells 4,775 Shares of Dayforce Inc (NYSE:DAY)

Capital Research Global Investors lowered its holdings in shares of Dayforce Inc (NYSE:DAY) by 0.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,152,390 shares of the company’s stock after selling 4,775 shares during the quarter. Capital Research Global Investors owned 0.12% of Dayforce worth $1,318,586,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Capital World Investors lifted its stake in Dayforce by 1.0% in the fourth quarter. Capital World Investors now owns 13,654,333 shares of the company’s stock valued at $991,851,000 after buying an additional 128,578 shares in the last quarter. First Trust Advisors LP bought a new position in shares of Dayforce in the 4th quarter valued at about $12,201,000. Capital International Ltd. CA increased its position in Dayforce by 17.1% during the fourth quarter. Capital International Ltd. CA now owns 63,531 shares of the company’s stock worth $4,615,000 after buying an additional 9,286 shares during the last quarter. Capital Group Investment Management PTE. LTD. raised its position in shares of Dayforce by 16.2% in the fourth quarter. Capital Group Investment Management PTE. LTD. now owns 13,217 shares of the company’s stock valued at $960,000 after purchasing an additional 1,839 shares during the period. Finally, Capital International Investors lifted its position in Dayforce by 3.9% during the fourth quarter. Capital International Investors now owns 17,659,706 shares of the company’s stock worth $1,282,800,000 after acquiring an additional 667,065 shares during the last quarter.

Insider Transactions at Dayforce

In other news, EVP William Everett Mcdonald sold 2,000 shares of the stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $56.16, for a total transaction of $112,320.00. Following the completion of the sale, the executive vice president now owns 105,691 shares of the company’s stock, valued at approximately $5,935,606.56. This represents a 1.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 4.50% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Piper Sandler reissued an “overweight” rating and set a $83.00 price target (down previously from $94.00) on shares of Dayforce in a research report on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $80.00 price target (down previously from $85.00) on shares of Dayforce in a report on Wednesday, January 8th. Jefferies Financial Group dropped their price objective on Dayforce from $80.00 to $75.00 and set a “hold” rating on the stock in a research note on Thursday, February 6th. Needham & Company LLC reaffirmed a “buy” rating and issued a $95.00 target price on shares of Dayforce in a research report on Thursday, February 6th. Finally, TD Cowen raised shares of Dayforce from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $67.00 to $68.00 in a report on Friday, March 7th. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $76.79.

Dayforce Stock Performance

NYSE:DAY opened at $54.16 on Friday. The stock has a market cap of $8.57 billion, a P/E ratio of 492.38, a PEG ratio of 2.49 and a beta of 1.20. The company has a quick ratio of 1.15, a current ratio of 1.13 and a debt-to-equity ratio of 0.47. The business’s 50-day moving average price is $58.30 and its two-hundred day moving average price is $67.24. Dayforce Inc has a twelve month low of $47.08 and a twelve month high of $82.69.

Dayforce (NYSE:DAY) last announced its earnings results on Wednesday, February 5th. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.09). Dayforce had a net margin of 1.03% and a return on equity of 6.49%. As a group, equities analysts predict that Dayforce Inc will post 1.48 EPS for the current fiscal year.

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.