Kentucky Retirement Systems Insurance Trust Fund Cuts Holdings in Dayforce Inc (NYSE:DAY)

Kentucky Retirement Systems Insurance Trust Fund decreased its stake in shares of Dayforce Inc (NYSE:DAY) by 8.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,681 shares of the company’s stock after selling 412 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Dayforce were worth $287,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of DAY. Financial Perspectives Inc acquired a new stake in shares of Dayforce in the 2nd quarter valued at about $28,000. Quent Capital LLC acquired a new stake in shares of Dayforce in the 3rd quarter valued at about $28,000. Sentry Investment Management LLC acquired a new stake in Dayforce during the 2nd quarter worth approximately $33,000. Farther Finance Advisors LLC acquired a new stake in Dayforce during the 3rd quarter worth approximately $40,000. Finally, Benjamin F. Edwards & Company Inc. acquired a new stake in Dayforce during the 2nd quarter worth approximately $62,000.

Dayforce Trading Up 0.2 %

Shares of DAY opened at $74.81 on Wednesday. The stock’s 50-day moving average is $65.80 and its two-hundred day moving average is $58.27. The stock has a market cap of $11.80 billion, a PE ratio of 226.70, a P/E/G ratio of 3.50 and a beta of 1.27. Dayforce Inc has a 12 month low of $47.08 and a 12 month high of $81.32. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.15 and a quick ratio of 1.15.

Insiders Place Their Bets

In related news, insider Jeffrey Scott Jacobs sold 643 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $63.37, for a total value of $40,746.91. Following the completion of the sale, the insider now directly owns 34,074 shares of the company’s stock, valued at $2,159,269.38. The trade was a 1.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Stephen H. Holdridge sold 1,000 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $63.37, for a total value of $63,370.00. Following the completion of the sale, the chief operating officer now directly owns 101,437 shares of the company’s stock, valued at approximately $6,428,062.69. This represents a 0.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,643 shares of company stock worth $460,877 over the last quarter. 4.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on DAY. BMO Capital Markets increased their price objective on Dayforce from $80.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. TD Cowen increased their target price on Dayforce from $58.00 to $62.00 and gave the stock a “hold” rating in a research note on Monday, October 7th. Barclays raised their price objective on Dayforce from $70.00 to $80.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 13th. Scotiabank began coverage on Dayforce in a research note on Monday. They issued a “sector perform” rating and a $75.00 price objective for the company. Finally, Jefferies Financial Group raised their price objective on Dayforce from $55.00 to $65.00 and gave the company a “hold” rating in a research note on Tuesday, October 22nd. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Dayforce has a consensus rating of “Moderate Buy” and a consensus price target of $78.77.

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.