ASR Vermogensbeheer N.V. Invests $731,000 in Dayforce, Inc. (NYSE:DAY)

Key Points

• ASR Vermogensbeheer N.V. acquired 12,525 shares of Dayforce, Inc. for approximately $731,000, reflecting growing institutional interest in the company.
• Dayforce's stock has seen mixed analyst ratings, with a current average rating of "Moderate Buy" and price targets ranging from $65 to $80, indicating varying expectations for future performance.
• The company's latest earnings report showed better-than-expected results, with a profit of $0.61 per share, surpassing the consensus estimate by $0.09.

ASR Vermogensbeheer N.V. purchased a new stake in shares of Dayforce, Inc. (NYSE:DAY - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 12,525 shares of the company's stock, valued at approximately $731,000.

Other hedge funds have also modified their holdings of the company. Principal Financial Group Inc. grew its stake in shares of Dayforce by 53.0% during the first quarter. Principal Financial Group Inc. now owns 273,055 shares of the company's stock valued at $15,927,000 after purchasing an additional 94,635 shares during the last quarter. Teacher Retirement System of Texas bought a new position in Dayforce in the first quarter valued at approximately $1,282,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in Dayforce by 13.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,585 shares of the company's stock valued at $1,259,000 after acquiring an additional 2,557 shares during the last quarter. Amalgamated Bank boosted 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 last quarter. Finally, Fifth Third Bancorp boosted 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 last quarter.

Dayforce Stock Up 3.2%

Shares of NYSE:DAY traded up $1.61 during midday trading on Tuesday, reaching $51.53. 2,009,457 shares of the company were exchanged, compared to its average volume of 1,736,374. Dayforce, Inc. has a fifty-two week low of $48.01 and a fifty-two week high of $82.69. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.23. The stock has a fifty day simple moving average of $56.84 and a two-hundred day simple moving average of $58.58. The firm has a market cap of $8.23 billion, a PE ratio of 171.79, a P/E/G ratio of 1.93 and a beta of 1.11.

Dayforce (NYSE:DAY - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.61 EPS for the quarter, topping analysts' consensus estimates of $0.52 by $0.09. Dayforce had a net margin of 2.65% and a return on equity of 7.37%. The business had revenue of $464.70 million for the quarter, compared to analyst estimates of $457.83 million. During the same period last year, the business posted $0.48 earnings per share. The firm's quarterly revenue was up 9.8% on a year-over-year basis. As a group, sell-side analysts forecast that Dayforce, Inc. will post 1.48 earnings per share for the current year.

Insider Buying and Selling

In other Dayforce news, COO Stephen H. Holdridge sold 2,000 shares of Dayforce stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $55.01, for a total value of $110,020.00. Following the sale, the chief operating officer directly owned 190,811 shares in the company, valued at approximately $10,496,513.11. The trade was a 1.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Samer Alkharrat sold 4,659 shares of Dayforce stock in a transaction on Friday, July 25th. The shares were sold at an average price of $59.69, for a total transaction of $278,095.71. Following the completion of the sale, the executive vice president owned 127,632 shares in the company, valued at $7,618,354.08. The trade was a 3.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,382 shares of company stock worth $539,860 over the last ninety days. Company insiders own 4.50% of the company's stock.

Analyst Ratings Changes

DAY has been the topic of a number of recent research reports. Mizuho reduced their price objective on shares of Dayforce from $95.00 to $80.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. Barclays raised their price objective on shares of Dayforce from $60.00 to $61.00 and gave the company an "equal weight" rating in a research note on Thursday, August 7th. Wells Fargo & Company cut shares of Dayforce from an "equal weight" rating to an "underweight" rating and reduced their price objective for the company from $60.00 to $50.00 in a research note on Friday, June 13th. Jefferies Financial Group reissued a "hold" rating on shares of Dayforce in a research report on Friday, May 23rd. Finally, BMO Capital Markets reissued an "outperform" rating on shares of Dayforce in a research report on Tuesday, June 10th. One analyst has rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $70.93.

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.