Dayforce Inc (NYSE:DAY) Shares Bought by CIBC Asset Management Inc

CIBC Asset Management Inc lifted its position in shares of Dayforce Inc (NYSE:DAY) by 4.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,406 shares of the company’s stock after acquiring an additional 995 shares during the period. CIBC Asset Management Inc’s holdings in Dayforce were worth $1,773,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. acquired a new stake in shares of Dayforce during the third quarter worth $11,135,000. Sumitomo Mitsui Trust Group Inc. acquired a new stake in Dayforce during the third quarter worth about $19,273,000. KBC Group NV bought a new position in Dayforce in the third quarter worth about $946,000. Adero Partners LLC acquired a new position in Dayforce in the third quarter valued at approximately $4,987,000. Finally, Retirement Systems of Alabama bought a new position in shares of Dayforce during the third quarter valued at approximately $2,105,000.

Insider Activity at Dayforce

In related news, CEO David D. Ossip sold 858,697 shares of Dayforce stock in a transaction dated 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 transaction, the chief executive officer now owns 794,527 shares of the company’s stock, valued at approximately $63,204,622.85. This trade represents a 51.94 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Stephen H. Holdridge sold 1,000 shares of the business’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $71.33, for a total value of $71,330.00. Following the sale, the chief operating officer now owns 119,022 shares in the company, valued at approximately $8,489,839.26. The trade was a 0.83 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 4.90% of the company’s stock.

Dayforce Stock Down 3.8 %

Shares of DAY stock opened at $64.72 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.15 and a current ratio of 1.13. The stock has a market cap of $10.21 billion, a PE ratio of 588.42, a price-to-earnings-growth ratio of 2.52 and a beta of 1.26. The business’s fifty day moving average is $70.79 and its 200-day moving average is $67.25. Dayforce Inc has a 1 year low of $47.08 and a 1 year high of $82.69.

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

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on DAY. BMO Capital Markets raised their price target on Dayforce from $80.00 to $90.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Needham & Company LLC reiterated a “buy” rating and issued a $95.00 target price on shares of Dayforce in a research note on Thursday, February 6th. Barclays lowered their price target on shares of Dayforce from $80.00 to $69.00 and set an “equal weight” rating for the company in a research report on Thursday, February 6th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $80.00 price objective (down from $85.00) on shares of Dayforce in a research report on Wednesday, January 8th. Finally, Jefferies Financial Group decreased their target price on shares of Dayforce from $80.00 to $75.00 and set a “hold” rating for the company in a research report on Thursday, February 6th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Dayforce has an average rating of “Moderate Buy” and a consensus target price of $78.64.

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.