Sumitomo Mitsui Trust Group Inc. Makes New Investment in Dayforce Inc (NYSE:DAY)

Sumitomo Mitsui Trust Group Inc. purchased a new stake in Dayforce Inc (NYSE:DAY) during the third quarter, according to its most recent filing with the SEC. The firm purchased 314,667 shares of the company’s stock, valued at approximately $19,273,000. Sumitomo Mitsui Trust Group Inc. owned 0.20% of Dayforce at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in DAY. Candriam S.C.A. bought a new position in shares of Dayforce during the 2nd quarter worth approximately $6,027,000. New Mexico Educational Retirement Board acquired a new position in shares of Dayforce during the second quarter worth $392,000. Acadian Asset Management LLC acquired a new position in shares of Dayforce during the second quarter worth $287,000. Prudential PLC purchased a new stake in shares of Dayforce during the 2nd quarter valued at $490,000. Finally, Texas Permanent School Fund Corp acquired a new stake in shares of Dayforce in the 2nd quarter worth $1,281,000.

Insider Buying and Selling

In related news, insider Jeffrey Scott Jacobs sold 643 shares of the stock in a transaction 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 sale, the insider now directly owns 34,074 shares of the company’s stock, valued at approximately $2,159,269.38. This represents a 1.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Stephen H. Holdridge sold 1,000 shares of the firm’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $77.00, for a total transaction of $77,000.00. Following the sale, the chief operating officer now owns 122,022 shares in the company, valued at approximately $9,395,694. This represents a 0.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,643 shares of company stock valued at $384,617 over the last ninety days. Company insiders own 4.90% of the company’s stock.

Dayforce Price Performance

Shares of DAY opened at $74.56 on Monday. The business’s 50-day moving average is $65.44 and its two-hundred day moving average is $58.15. The company has a market capitalization of $11.76 billion, a P/E ratio of 225.95, a P/E/G ratio of 3.50 and a beta of 1.27. Dayforce Inc has a fifty-two week low of $47.08 and a fifty-two week high of $81.32. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.15 and a current ratio of 1.15.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Jefferies Financial Group upped their target price on Dayforce from $55.00 to $65.00 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. Mizuho upped their price objective on shares of Dayforce from $85.00 to $95.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. TD Cowen lifted their target price on shares of Dayforce from $58.00 to $62.00 and gave the stock a “hold” rating in a research note on Monday, October 7th. KeyCorp upped their price target on shares of Dayforce from $80.00 to $92.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective 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. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $79.08.

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.