OVERSEA CHINESE BANKING Corp Ltd Reduces Stock Holdings in Dayforce Inc (NYSE:DAY)

OVERSEA CHINESE BANKING Corp Ltd decreased its position in Dayforce Inc (NYSE:DAY) by 0.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 87,940 shares of the company’s stock after selling 177 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Dayforce were worth $6,388,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of DAY. Quarry LP bought a new stake in Dayforce during the 3rd quarter valued at $51,000. AlphaQuest LLC raised its holdings in Dayforce by 14,800.0% during the 4th quarter. AlphaQuest LLC now owns 1,043 shares of the company’s stock valued at $76,000 after acquiring an additional 1,036 shares during the period. Smartleaf Asset Management LLC raised its holdings in Dayforce by 69.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,227 shares of the company’s stock valued at $89,000 after acquiring an additional 501 shares during the period. National Bank of Canada FI bought a new stake in Dayforce during the 3rd quarter valued at $179,000. Finally, GAMMA Investing LLC raised its holdings in Dayforce by 52.1% during the 4th quarter. GAMMA Investing LLC now owns 2,926 shares of the company’s stock valued at $213,000 after acquiring an additional 1,002 shares during the period.

Insider Transactions at Dayforce

In other news, COO Stephen H. Holdridge sold 1,000 shares of the stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $71.33, for a total transaction of $71,330.00. Following the completion of the sale, the chief operating officer now directly owns 119,022 shares in the company, valued at approximately $8,489,839.26. This represents a 0.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 4.90% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on DAY shares. Jefferies Financial Group decreased their price target on shares of Dayforce from $80.00 to $75.00 and set a “hold” rating on the stock in a report on Thursday, February 6th. Cowen raised shares of Dayforce from a “hold” rating to a “buy” rating in a report on Friday, March 7th. Stifel Nicolaus decreased their price target on shares of Dayforce from $90.00 to $85.00 and set a “buy” rating on the stock in a report on Thursday, February 6th. TD Cowen raised shares of Dayforce from a “hold” rating to a “buy” rating and upped their price target for the stock from $67.00 to $68.00 in a report on Friday, March 7th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $95.00 target price on shares of Dayforce in a research report on Thursday, February 6th. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, Dayforce presently has an average rating of “Moderate Buy” and a consensus price target of $77.86.

Dayforce Stock Performance

NYSE DAY opened at $57.15 on Wednesday. The company has a 50-day simple moving average of $65.08 and a two-hundred day simple moving average of $67.81. The company has a quick ratio of 1.15, a current ratio of 1.13 and a debt-to-equity ratio of 0.47. 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 $9.08 billion, a price-to-earnings ratio of 519.59, a PEG ratio of 2.49 and a beta of 1.33.

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

Dayforce Company 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.