Allianz Asset Management GmbH Has $628,000 Position in Dayforce, Inc. (NYSE:DAY)

Key Points

• Allianz Asset Management GmbH has reduced its position in Dayforce, Inc. by 34.7%, selling 5,717 shares, bringing their total holdings to 10,769 shares valued at approximately $628,000.
• Several institutional investors, including FMR LLC, which increased its holdings by 382.5%, have made significant modifications to their stock positions in Dayforce during the fourth quarter.
• Dayforce's stock recently declined by 4.1%, opening at $55.30, while the company maintains a market capitalization of $8.84 billion.

Allianz Asset Management GmbH reduced its position in Dayforce, Inc. (NYSE:DAY - Free Report) by 34.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,769 shares of the company's stock after selling 5,717 shares during the quarter. Allianz Asset Management GmbH's holdings in Dayforce were worth $628,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mather Group LLC. boosted its stake in Dayforce by 196.9% in the first quarter. Mather Group LLC. now owns 962 shares of the company's stock valued at $56,000 after acquiring an additional 638 shares during the period. Federated Hermes Inc. acquired a new position in Dayforce in the fourth quarter valued at approximately $72,000. Mufg Securities Americas Inc. acquired a new position in Dayforce in the fourth quarter valued at approximately $169,000. Orion Portfolio Solutions LLC acquired a new position in Dayforce in the fourth quarter valued at approximately $217,000. Finally, Gotham Asset Management LLC acquired a new position in Dayforce in the fourth quarter valued at approximately $217,000.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Wells Fargo & Company downgraded Dayforce from an "equal weight" rating to an "underweight" rating and reduced their price objective for the stock from $60.00 to $50.00 in a research report on Friday, June 13th. KeyCorp cut their target price on Dayforce from $80.00 to $65.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. Needham & Company LLC restated a "buy" rating and issued a $95.00 target price on shares of Dayforce in a research report on Monday, June 30th. Jefferies Financial Group restated a "hold" rating on shares of Dayforce in a research report on Friday, May 23rd. Finally, Citigroup upped their target price on Dayforce from $68.00 to $70.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $70.86.

Dayforce Stock Performance

Shares of DAY traded down $2.37 during trading hours on Friday, reaching $55.30. 1,804,926 shares of the company traded hands, compared to its average volume of 1,338,244. The stock's fifty day moving average is $57.65 and its 200 day moving average is $59.36. The stock has a market cap of $8.84 billion, a P/E ratio of 345.65, a price-to-earnings-growth ratio of 2.15 and a beta of 1.11. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.02 and a current ratio of 1.02. Dayforce, Inc. has a 1-year low of $48.01 and a 1-year high of $82.69.

Insider Buying and Selling

In other news, EVP William Everett Mcdonald sold 2,059 shares of the firm's stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $55.01, for a total transaction of $113,265.59. Following the completion of the sale, the executive vice president owned 103,684 shares of the company's stock, valued at approximately $5,703,656.84. This trade represents a 1.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Samer Alkharrat sold 4,659 shares of the firm's stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $59.69, for a total transaction of $278,095.71. Following the sale, the executive vice president directly owned 127,632 shares of the company's stock, valued at approximately $7,618,354.08. The trade was a 3.52% decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,382 shares of company stock valued at $539,860 over the last quarter. Corporate insiders own 4.50% of the company's stock.

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.