Insider Selling: Dayforce Inc (NYSE:DAY) CEO Sells 858,697 Shares of Stock

Dayforce Inc (NYSE:DAY) CEO David D. Ossip sold 858,697 shares of the stock in a transaction that occurred on Tuesday, November 26th. The stock was 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 directly owns 794,527 shares of the company’s stock, valued at $63,204,622.85. This trade represents a 51.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Dayforce Price Performance

DAY opened at $79.98 on Friday. The stock has a fifty day moving average of $69.40 and a 200-day moving average of $59.51. The firm has a market capitalization of $12.61 billion, a P/E ratio of 242.37, a PEG ratio of 3.75 and a beta of 1.27. Dayforce Inc has a 12-month low of $47.08 and a 12-month high of $82.69. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.47.

Institutional Trading of Dayforce

A number of hedge funds have recently modified their holdings of DAY. Candriam S.C.A. purchased a new stake in shares of Dayforce in the second quarter valued at $6,027,000. New Mexico Educational Retirement Board purchased a new stake in shares of Dayforce in the second quarter valued at $392,000. Acadian Asset Management LLC purchased a new stake in shares of Dayforce in the second quarter valued at $287,000. Prudential PLC purchased a new stake in shares of Dayforce during the second quarter worth $490,000. Finally, Texas Permanent School Fund Corp purchased a new stake in shares of Dayforce during the second quarter worth $1,281,000.

Analyst Ratings Changes

A number of equities analysts recently issued reports on DAY shares. KeyCorp increased their price objective on Dayforce from $80.00 to $92.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Mizuho increased their price target on Dayforce from $85.00 to $95.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Barclays increased their price target on Dayforce from $70.00 to $80.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 13th. BMO Capital Markets increased their price target on Dayforce from $80.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Finally, Scotiabank initiated coverage on 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 equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $78.77.

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.