Teacher Retirement System of Texas Takes Position in Dayforce, Inc. (NYSE:DAY)

Teacher Retirement System of Texas acquired a new position in shares of Dayforce, Inc. (NYSE:DAY - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 21,980 shares of the company's stock, valued at approximately $1,282,000.

Other institutional investors have also made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Dayforce by 13.4% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,585 shares of the company's stock worth $1,259,000 after purchasing an additional 2,557 shares during the period. Amalgamated Bank grew its stake in Dayforce by 2.2% in the first quarter. Amalgamated Bank now owns 30,966 shares of the company's stock valued at $1,806,000 after acquiring an additional 661 shares during the period. Exchange Traded Concepts LLC grew its stake in Dayforce by 38.6% in the first quarter. Exchange Traded Concepts LLC now owns 3,669 shares of the company's stock valued at $214,000 after acquiring an additional 1,022 shares during the period. Fifth Third Bancorp grew its stake in Dayforce by 7.1% in the first quarter. Fifth Third Bancorp now owns 9,802 shares of the company's stock valued at $572,000 after acquiring an additional 648 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in Dayforce in the fourth quarter valued at about $1,764,000.

Dayforce Stock Down 5.2%

DAY traded down $3.02 on Friday, hitting $55.25. 1,411,418 shares of the company were exchanged, compared to its average volume of 1,759,548. Dayforce, Inc. has a 12 month low of $48.01 and a 12 month high of $82.69. The company has a market cap of $8.83 billion, a PE ratio of 345.33, a PEG ratio of 2.16 and a beta of 1.08. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.02 and a current ratio of 1.02. The stock's fifty day moving average is $57.83 and its 200-day moving average is $60.89.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. KeyCorp decreased their target price on Dayforce from $80.00 to $65.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Wells Fargo & Company cut Dayforce from an "equal weight" rating to an "underweight" rating and decreased their target price for the company from $60.00 to $50.00 in a research note on Friday, June 13th. Citigroup boosted their target price on Dayforce from $68.00 to $70.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. Barclays reduced 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. Finally, Piper Sandler reduced their price objective on Dayforce from $83.00 to $70.00 and set an "overweight" rating for the company in a research report on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat.com, Dayforce presently has a consensus rating of "Moderate Buy" and a consensus target price of $70.86.

Insider Activity

In other Dayforce news, EVP William Everett Mcdonald sold 2,000 shares of the company's stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $56.16, for a total value of $112,320.00. Following the sale, the executive vice president owned 105,691 shares in the company, valued at $5,935,606.56. This represents a 1.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Samer Alkharrat sold 664 shares of the company's stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $57.95, for a total value of $38,478.80. Following the completion of the sale, the executive vice president owned 132,266 shares in the company, valued at $7,664,814.70. This represents a 0.50% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,580 shares of company stock worth $259,321 in the last quarter. 4.50% of the stock is currently owned by corporate insiders.

Dayforce 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.