DnB Asset Management AS Boosts Position in Dayforce Inc (NYSE:DAY)

DnB Asset Management AS boosted its position in Dayforce Inc (NYSE:DAY) by 12.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 32,293 shares of the company’s stock after purchasing an additional 3,521 shares during the period. DnB Asset Management AS’s holdings in Dayforce were worth $2,346,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in DAY. Principal Financial Group Inc. bought a new position in shares of Dayforce in the 3rd quarter worth approximately $11,135,000. Smartleaf Asset Management LLC raised its position in Dayforce by 69.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,227 shares of the company’s stock worth $89,000 after acquiring an additional 501 shares during the period. Retirement Systems of Alabama purchased a new position in shares of Dayforce during the 3rd quarter worth $2,105,000. SG Americas Securities LLC grew its position in shares of Dayforce by 167.7% during the 4th quarter. SG Americas Securities LLC now owns 19,322 shares of the company’s stock valued at $1,404,000 after acquiring an additional 12,103 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Dayforce by 31.8% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,028 shares of the company’s stock worth $1,398,000 after purchasing an additional 4,596 shares in the last quarter.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on DAY. Cowen raised shares of Dayforce from a “hold” rating to a “buy” rating in a report on Friday, March 7th. Stifel Nicolaus decreased their price objective on shares of Dayforce from $90.00 to $85.00 and set a “buy” rating on the stock in a research report on Thursday, February 6th. Scotiabank cut their target price on shares of Dayforce from $72.00 to $55.00 and set a “sector perform” rating for the company in a research note on Monday, March 17th. TD Cowen upgraded Dayforce from a “hold” rating to a “buy” rating and raised their price objective for the company from $67.00 to $68.00 in a research report on Friday, March 7th. Finally, Jefferies Financial Group decreased their target price on Dayforce from $80.00 to $75.00 and set a “hold” rating on the stock in a research report on Thursday, February 6th. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, Dayforce has a consensus rating of “Moderate Buy” and a consensus price target of $77.86.

Dayforce Stock Up 0.0 %

NYSE DAY opened at $58.34 on Wednesday. The company has a quick ratio of 1.15, a current ratio of 1.13 and a debt-to-equity ratio of 0.47. Dayforce Inc has a 52 week low of $47.08 and a 52 week high of $82.69. The firm has a market capitalization of $9.23 billion, a price-to-earnings ratio of 530.38, a PEG ratio of 2.49 and a beta of 1.33. The company has a fifty day moving average of $62.84 and a two-hundred day moving average of $67.97.

Dayforce (NYSE:DAY) last released its earnings results on Wednesday, February 5th. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.09). Dayforce had a return on equity of 6.49% and a net margin of 1.03%. On average, analysts predict that Dayforce Inc will post 1.48 earnings per share for the current year.

Insiders Place Their Bets

In other news, COO Stephen H. Holdridge sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $71.33, for a total transaction of $71,330.00. Following the transaction, the chief operating officer now owns 119,022 shares of the company’s stock, valued at approximately $8,489,839.26. This represents a 0.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 4.50% of the stock is owned by 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.