Blueshift Asset Management LLC Lowers Holdings in Dayforce Inc (NYSE:DAY)

by · The Cerbat Gem

Blueshift Asset Management LLC lowered its stake in shares of Dayforce Inc (NYSE:DAY – Free Report) by 6.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,034 shares of the company’s stock after selling 1,504 shares during the period. Blueshift Asset Management LLC’s holdings in Dayforce were worth $1,288,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Select Equity Group L.P. purchased a new position in shares of Dayforce in the 2nd quarter worth about $721,310,000. EdgePoint Investment Group Inc. purchased a new stake in Dayforce during the second quarter worth approximately $521,396,000. Dragoneer Investment Group LLC acquired a new stake in shares of Dayforce in the second quarter worth $193,274,000. Charles Schwab Investment Management Inc. boosted its position in Dayforce by 0.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,395,044 shares of the company’s stock worth $85,446,000 after purchasing an additional 8,506 shares during the period. Finally, Dimensional Fund Advisors LP purchased a new position in Dayforce in the second quarter valued at about $51,027,000.

Insiders Place Their Bets

In related news, insider Jeffrey Scott Jacobs sold 643 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $63.37, for a total transaction of $40,746.91. Following the completion of the sale, the insider now directly owns 34,074 shares in the company, valued at approximately $2,159,269.38. This trade represents a 1.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Stephen H. Holdridge sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $69.25, for a total transaction of $138,500.00. Following the transaction, the chief operating officer now directly owns 98,437 shares in the company, valued at $6,816,762.25. The trade was a 1.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 6,643 shares of company stock worth $460,877. Company insiders own 4.90% of the company’s stock.

Dayforce Price Performance

NYSE DAY opened at $79.70 on Wednesday. Dayforce Inc has a 1 year low of $47.08 and a 1 year high of $82.69. The stock has a market capitalization of $12.57 billion, a P/E ratio of 241.52, a P/E/G ratio of 3.84 and a beta of 1.27. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.15 and a current ratio of 1.15. The business’s fifty day moving average is $68.17 and its two-hundred day moving average is $59.10.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on DAY shares. Mizuho upped their target price on Dayforce from $85.00 to $95.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Dayforce from $70.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Needham & Company LLC upped their price objective on shares of Dayforce from $82.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. BMO Capital Markets lifted their target price on Dayforce from $80.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Finally, Piper Sandler reiterated an “overweight” rating and set a $94.00 target price (up from $82.00) on shares of Dayforce in a research note on Wednesday, November 13th. Six research 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.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $78.77.

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About Dayforce

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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.

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