CIBC Asset Management Inc Has $1.77 Million Stock Holdings in Dayforce Inc (NYSE:DAY)

CIBC Asset Management Inc increased its holdings in shares of Dayforce Inc (NYSE:DAY) by 4.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,406 shares of the company’s stock after buying an additional 995 shares during the quarter. CIBC Asset Management Inc’s holdings in Dayforce were worth $1,773,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Farther Finance Advisors LLC purchased a new position in Dayforce during the 3rd quarter valued at about $40,000. Quarry LP acquired a new stake in shares of Dayforce during the third quarter worth approximately $51,000. Blue Trust Inc. purchased a new position in Dayforce during the third quarter valued at approximately $91,000. Signaturefd LLC acquired a new position in Dayforce in the 3rd quarter valued at approximately $96,000. Finally, US Bancorp DE lifted its position in Dayforce by 66.3% in the 3rd quarter. US Bancorp DE now owns 2,363 shares of the company’s stock worth $145,000 after buying an additional 942 shares in the last quarter.

Insider Transactions at Dayforce

In related news, CEO David D. Ossip sold 858,697 shares of the business’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $79.55, for a total transaction of $68,309,346.35. Following the transaction, the chief executive officer now owns 794,527 shares of the company’s stock, valued at approximately $63,204,622.85. The trade was a 51.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Stephen H. Holdridge sold 1,000 shares of the stock in a transaction 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 directly owns 119,022 shares of the company’s stock, valued at approximately $8,489,839.26. This trade represents a 0.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 4.90% of the company’s stock.

Dayforce Stock Performance

NYSE:DAY opened at $64.72 on Friday. The firm has a market capitalization of $10.21 billion, a PE ratio of 588.42, a PEG ratio of 2.52 and a beta of 1.26. The company has a current ratio of 1.13, a quick ratio of 1.15 and a debt-to-equity ratio of 0.47. Dayforce Inc has a 1 year low of $47.08 and a 1 year high of $82.69. The firm’s fifty day simple moving average is $70.79 and its 200 day simple moving average is $67.25.

Dayforce (NYSE:DAY) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $0.37 EPS 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 anticipate that Dayforce Inc will post 1.48 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Citigroup dropped their price target on shares of Dayforce from $90.00 to $83.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. Piper Sandler reaffirmed an “overweight” rating and issued a $83.00 target price (down from $94.00) on shares of Dayforce in a research report on Wednesday, February 5th. Scotiabank reduced their price target on Dayforce from $75.00 to $72.00 and set a “sector perform” rating for the company in a report on Thursday, February 6th. Stifel Nicolaus dropped their price objective on Dayforce from $90.00 to $85.00 and set a “buy” rating on the stock in a report on Thursday, February 6th. Finally, BMO Capital Markets lifted their target price on shares of Dayforce from $80.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $78.64.

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.