New York Life Investment Management LLC Has $2.70 Million Stock Position in Dayforce Inc (NYSE:DAY)

New York Life Investment Management LLC cut its holdings in Dayforce Inc (NYSE:DAY) by 2.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 37,148 shares of the company’s stock after selling 1,071 shares during the quarter. New York Life Investment Management LLC’s holdings in Dayforce were worth $2,698,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Farther Finance Advisors LLC bought a new position in shares of Dayforce in the third quarter worth about $40,000. Quarry LP acquired a new position in Dayforce during the 3rd quarter worth approximately $51,000. US Bancorp DE lifted its stake in Dayforce by 66.3% in the 3rd quarter. US Bancorp DE now owns 2,363 shares of the company’s stock valued at $145,000 after purchasing an additional 942 shares during the last quarter. National Bank of Canada FI bought a new position in Dayforce in the 3rd quarter valued at approximately $179,000. Finally, GAMMA Investing LLC boosted its position in Dayforce by 52.1% in the fourth quarter. GAMMA Investing LLC now owns 2,926 shares of the company’s stock valued at $213,000 after buying an additional 1,002 shares in the last quarter.

Dayforce Price Performance

Shares of NYSE DAY opened at $61.97 on Monday. The company has a market capitalization of $9.77 billion, a PE ratio of 563.41, a P/E/G ratio of 2.49 and a beta of 1.26. 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 twelve month low of $47.08 and a twelve month high of $82.69. The firm has a fifty day simple moving average of $69.27 and a 200 day simple moving average of $67.89.

Dayforce (NYSE:DAY) last issued its quarterly 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, sell-side analysts forecast that Dayforce Inc will post 1.48 EPS for the current year.

Wall Street Analyst Weigh In

DAY has been the subject of a number of research reports. Scotiabank dropped their price target on Dayforce from $75.00 to $72.00 and set a “sector perform” rating for the company in a research note on Thursday, February 6th. Citigroup dropped their target price on Dayforce from $90.00 to $83.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. Barclays reduced their price target on Dayforce from $80.00 to $69.00 and set an “equal weight” rating on the stock in a report on Thursday, February 6th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $80.00 price objective (down previously from $85.00) on shares of Dayforce in a report on Wednesday, January 8th. Finally, Mizuho boosted their target price on shares of Dayforce from $85.00 to $95.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, Dayforce currently has an average rating of “Moderate Buy” and an average price target of $78.64.

Insiders Place Their Bets

In other news, COO Stephen H. Holdridge sold 1,000 shares of the firm’s stock in a transaction that occurred on 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 owns 119,022 shares of the company’s stock, valued at $8,489,839.26. This trade represents a 0.83 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 4.90% of the stock is currently owned by corporate insiders.

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.