Dayforce, Inc. (NYSE:DAY) Stock Position Lowered by Pacer Advisors Inc.

Key Points

• Pacer Advisors Inc. has reduced its position in Dayforce, Inc. by 32.3%, owning 9,431 shares valued at $550,000 as of the latest reporting period.
• Dayforce shares have seen a 2.2% decline recently, with various analysts adjusting their price targets, ranging from a drop to $50.00 by Wells Fargo to a decrease to $60.00 by Barclays.
• Several insiders, including COO Stephen H. Holdridge, have sold shares recently, with the total insider sales amounting to $539,860 in the past 90 days.

Pacer Advisors Inc. reduced its holdings in shares of Dayforce, Inc. (NYSE:DAY - Free Report) by 32.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,431 shares of the company's stock after selling 4,498 shares during the period. Pacer Advisors Inc.'s holdings in Dayforce were worth $550,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Mather Group LLC. boosted its position in Dayforce by 196.9% in the 1st quarter. Mather Group LLC. now owns 962 shares of the company's stock worth $56,000 after purchasing an additional 638 shares in the last quarter. Federated Hermes Inc. purchased a new stake in Dayforce in the 4th quarter worth approximately $72,000. Mufg Securities Americas Inc. purchased a new stake in Dayforce in the 4th quarter worth approximately $169,000. CX Institutional purchased a new stake in Dayforce in the 1st quarter worth approximately $190,000. Finally, Exchange Traded Concepts LLC boosted its position in Dayforce by 38.6% in the 1st quarter. Exchange Traded Concepts LLC now owns 3,669 shares of the company's stock worth $214,000 after purchasing an additional 1,022 shares in the last quarter.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Needham & Company LLC reiterated a "buy" rating and set a $95.00 target price on shares of Dayforce in a research report on Monday, June 30th. Jefferies Financial Group reaffirmed a "hold" rating on shares of Dayforce in a research note on Friday, May 23rd. Barclays cut their price objective on Dayforce from $61.00 to $60.00 and set an "equal weight" rating for the company in a research report on Thursday, May 8th. Mizuho cut their price objective on Dayforce from $95.00 to $80.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. Finally, BMO Capital Markets restated an "outperform" rating on shares of Dayforce in a report on Tuesday, June 10th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, Dayforce currently has an average rating of "Moderate Buy" and a consensus price target of $70.86.

Dayforce Stock Performance

Shares of DAY traded down $2.37 during mid-day trading on Friday, hitting $55.30. The stock had a trading volume of 1,804,926 shares, compared to its average volume of 1,247,997. The company has a market cap of $8.84 billion, a PE ratio of 345.65, a PEG ratio of 2.15 and a beta of 1.11. The company's fifty day simple moving average is $57.65 and its two-hundred day simple moving average is $59.43. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.24. Dayforce, Inc. has a fifty-two week low of $48.01 and a fifty-two week high of $82.69.

Insider Buying and Selling at Dayforce

In other news, COO Stephen H. Holdridge sold 2,000 shares of the firm's stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $55.01, for a total transaction of $110,020.00. Following the transaction, the chief operating officer directly owned 190,811 shares of the company's stock, valued at approximately $10,496,513.11. This trade represents a 1.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP William Everett Mcdonald sold 2,059 shares of the firm's stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $55.01, for a total value of $113,265.59. Following the transaction, the executive vice president directly owned 103,684 shares in the company, valued at $5,703,656.84. This trade represents a 1.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,382 shares of company stock valued at $539,860 in the last quarter. Corporate insiders own 4.50% of the company's stock.

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.