ASR Vermogensbeheer N.V. Sells 6,465 Shares of Dayforce, Inc. $DAY

Key Points

• ASR Vermogensbeheer N.V. reduced its stake in Dayforce, Inc. by 51.6%, selling 6,465 shares, leaving it with 6,060 shares valued at approximately $336,000.
• In the recent second quarter, Dayforce reported $0.61 earnings per share, exceeding analyst expectations of $0.52.
• Multiple hedge funds have increased their positions in Dayforce, with Price T Rowe Associates raising its holdings by 9.1%, now owning approximately 16.6 million shares valued at nearly $970 million.

ASR Vermogensbeheer N.V. lessened its stake in shares of Dayforce, Inc. (NYSE:DAY - Free Report) by 51.6% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,060 shares of the company's stock after selling 6,465 shares during the quarter. ASR Vermogensbeheer N.V.'s holdings in Dayforce were worth $336,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD raised its holdings in Dayforce by 9.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 16,620,415 shares of the company's stock valued at $969,470,000 after buying an additional 1,387,943 shares during the last quarter. EdgePoint Investment Group Inc. increased its position in shares of Dayforce by 55.0% in the first quarter. EdgePoint Investment Group Inc. now owns 13,860,521 shares of the company's stock valued at $808,484,000 after acquiring an additional 4,918,825 shares during the period. Invesco Ltd. raised its stake in shares of Dayforce by 36.0% during the first quarter. Invesco Ltd. now owns 3,583,632 shares of the company's stock valued at $209,033,000 after acquiring an additional 948,436 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Dayforce by 4.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,460,591 shares of the company's stock worth $85,196,000 after purchasing an additional 60,963 shares during the period. Finally, Fuller & Thaler Asset Management Inc. grew its stake in shares of Dayforce by 27.7% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 960,484 shares of the company's stock worth $56,025,000 after purchasing an additional 208,078 shares during the last quarter.

Dayforce Stock Performance

Shares of Dayforce stock opened at $69.02 on Monday. Dayforce, Inc. has a 12 month low of $48.01 and a 12 month high of $82.69. The firm has a market capitalization of $11.02 billion, a P/E ratio of 230.09, a P/E/G ratio of 2.54 and a beta of 1.17. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.23. The business has a fifty day simple moving average of $64.59 and a two-hundred day simple moving average of $59.79.

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

Analyst Upgrades and Downgrades

DAY has been the subject of a number of recent analyst reports. KeyCorp lowered Dayforce from an "overweight" rating to a "sector weight" rating in a research report on Friday, August 22nd. Piper Sandler upgraded Dayforce to a "strong-buy" rating in a report on Tuesday, August 19th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Dayforce in a research note on Saturday, September 27th. BMO Capital Markets reissued a "market perform" rating and set a $70.00 price objective (up from $67.00) on shares of Dayforce in a research report on Friday, August 22nd. Finally, Mizuho set a $70.00 target price on shares of Dayforce in a research report on Friday, August 22nd. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and fourteen have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $70.36.

Insider Activity

In other news, COO Stephen H. Holdridge sold 2,000 shares of the business's stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $68.95, for a total value of $137,900.00. Following the sale, the chief operating officer directly owned 186,811 shares of the company's stock, valued at $12,880,618.45. The trade was a 1.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Samer Alkharrat sold 4,659 shares of the company'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 value 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 position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,950 shares of company stock worth $861,578. Insiders own 4.50% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.