Nisa Investment Advisors LLC Has $382,000 Position in Dayforce, Inc. (NYSE:DAY)

Nisa Investment Advisors LLC reduced its position in shares of Dayforce, Inc. (NYSE:DAY) by 67.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,541 shares of the company’s stock after selling 13,795 shares during the period. Nisa Investment Advisors LLC’s holdings in Dayforce were worth $382,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Envestnet Asset Management Inc. grew its position in Dayforce by 2.3% during the first quarter. Envestnet Asset Management Inc. now owns 37,758 shares of the company’s stock worth $2,202,000 after buying an additional 854 shares in the last quarter. Impax Asset Management Group plc grew its position in Dayforce by 3.6% during the first quarter. Impax Asset Management Group plc now owns 18,822 shares of the company’s stock worth $1,098,000 after buying an additional 647 shares in the last quarter. IFM Investors Pty Ltd grew its position in Dayforce by 6.5% during the first quarter. IFM Investors Pty Ltd now owns 28,501 shares of the company’s stock worth $1,746,000 after buying an additional 1,752 shares in the last quarter. Principal Financial Group Inc. grew its position in Dayforce by 53.0% during the first quarter. Principal Financial Group Inc. now owns 273,055 shares of the company’s stock worth $15,927,000 after buying an additional 94,635 shares in the last quarter. Finally, Teacher Retirement System of Texas acquired a new stake in Dayforce during the first quarter worth approximately $1,282,000.

Insider Activity at Dayforce

In related news, EVP Samer Alkharrat sold 664 shares of the firm’s stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $57.95, for a total value of $38,478.80. Following the transaction, the executive vice president directly owned 132,266 shares of the company’s stock, valued at approximately $7,664,814.70. This trade represents a 0.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 4.50% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Barclays lowered their price objective on shares of Dayforce from $61.00 to $60.00 and set an “equal weight” rating for the company in a research report on Thursday, May 8th. BMO Capital Markets restated an “outperform” rating on shares of Dayforce in a research report on Tuesday, June 10th. Wells Fargo & Company lowered shares of Dayforce from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $60.00 to $50.00 in a research report on Friday, June 13th. Piper Sandler cut their target price on shares of Dayforce from $83.00 to $70.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 7th. Finally, Mizuho cut their target price on shares of Dayforce from $95.00 to $80.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 15th. One analyst has rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $70.86.

Dayforce Trading Up 2.0%

Shares of NYSE:DAY opened at $55.31 on Thursday. The company has a market cap of $8.84 billion, a P/E ratio of 345.71, a PEG ratio of 2.11 and a beta of 1.08. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.02 and a quick ratio of 1.02. Dayforce, Inc. has a 1 year low of $48.01 and a 1 year high of $82.69. The stock’s fifty day moving average price is $57.70 and its 200-day moving average price is $60.59.

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.