KLP Kapitalforvaltning AS Takes Position in Dayforce Inc (NYSE:DAY)

KLP Kapitalforvaltning AS bought a new position in Dayforce Inc (NYSE:DAY) in the 4th quarter, HoldingsChannel.com reports. The firm bought 58,300 shares of the company’s stock, valued at approximately $4,235,000.

Other institutional investors have also recently bought and sold shares of the company. Metis Global Partners LLC lifted its holdings in shares of Dayforce by 3.8% during the 4th quarter. Metis Global Partners LLC now owns 5,261 shares of the company’s stock worth $382,000 after acquiring an additional 193 shares during the period. Xponance Inc. raised its position in Dayforce by 1.6% in the fourth quarter. Xponance Inc. now owns 22,494 shares of the company’s stock worth $1,634,000 after purchasing an additional 357 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in Dayforce by 69.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,227 shares of the company’s stock worth $89,000 after purchasing an additional 501 shares during the period. HighTower Advisors LLC boosted its holdings in Dayforce by 11.0% during the third quarter. HighTower Advisors LLC now owns 6,083 shares of the company’s stock valued at $368,000 after purchasing an additional 602 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its stake in shares of Dayforce by 6.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 11,282 shares of the company’s stock valued at $820,000 after purchasing an additional 650 shares during the period.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on DAY. Stifel Nicolaus decreased their price target on Dayforce from $90.00 to $85.00 and set a “buy” rating on the stock in a research note on Thursday, February 6th. Scotiabank lowered their target price on shares of Dayforce from $72.00 to $55.00 and set a “sector perform” rating on the stock in a report on Monday, March 17th. Citigroup cut their price target on shares of Dayforce from $90.00 to $83.00 and set a “buy” rating for the company in a report on Thursday, January 16th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $80.00 price objective (down previously from $85.00) on shares of Dayforce in a report on Wednesday, January 8th. Finally, Cowen upgraded Dayforce from a “hold” rating to a “buy” rating in a research report on Friday, March 7th. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, Dayforce presently has an average rating of “Moderate Buy” and an average target price of $77.86.

Dayforce Price Performance

Shares of DAY opened at $59.63 on Thursday. The stock has a market cap of $9.44 billion, a P/E ratio of 542.13, a price-to-earnings-growth ratio of 2.49 and a beta of 1.33. Dayforce Inc has a 1 year low of $47.08 and a 1 year high of $82.69. The stock’s 50-day moving average price is $63.72 and its two-hundred day moving average price is $67.88. 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 (NYSE:DAY) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.09). Dayforce had a net margin of 1.03% and a return on equity of 6.49%. On average, equities analysts predict that Dayforce Inc will post 1.48 earnings per share for the current year.

Insider Activity at Dayforce

In other Dayforce news, COO Stephen H. Holdridge sold 1,000 shares of Dayforce stock in a transaction dated 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 directly owns 119,022 shares in the company, valued at approximately $8,489,839.26. The trade was a 0.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 4.90% of the stock is owned by corporate insiders.

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.