Assenagon Asset Management S.A. Grows Holdings in Dayforce, Inc. (NYSE:DAY)

Assenagon Asset Management S.A. lifted its stake in Dayforce, Inc. (NYSE:DAY - Free Report) by 119.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 91,939 shares of the company's stock after buying an additional 50,097 shares during the period. Assenagon Asset Management S.A. owned approximately 0.06% of Dayforce worth $5,363,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of DAY. Czech National Bank increased its stake in Dayforce by 6.8% in the 1st quarter. Czech National Bank now owns 36,519 shares of the company's stock worth $2,130,000 after purchasing an additional 2,326 shares during the period. Rhumbline Advisers increased its stake in shares of Dayforce by 16.4% in the first quarter. Rhumbline Advisers now owns 311,955 shares of the company's stock worth $18,196,000 after buying an additional 43,944 shares during the period. GAMMA Investing LLC raised its holdings in Dayforce by 6,038.0% during the 1st quarter. GAMMA Investing LLC now owns 179,598 shares of the company's stock valued at $10,476,000 after buying an additional 176,672 shares during the last quarter. Lansforsakringar Fondforvaltning AB publ purchased a new stake in Dayforce during the 4th quarter valued at $3,680,000. Finally, Siemens Fonds Invest GmbH bought a new stake in Dayforce in the 4th quarter worth $3,669,000.

Insider Transactions at Dayforce

In related news, EVP Samer Alkharrat sold 1,916 shares of the company's stock in a transaction on Friday, April 25th. The stock was sold at an average price of $56.64, for a total transaction of $108,522.24. Following the completion of the sale, the executive vice president now owns 150,237 shares in the company, valued at approximately $8,509,423.68. This represents a 1.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP William Everett Mcdonald sold 2,000 shares of the firm's stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $56.16, for a total value of $112,320.00. Following the completion of the transaction, the executive vice president now directly owns 105,691 shares in the company, valued at $5,935,606.56. The trade was a 1.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 4.50% of the company's stock.

Dayforce Stock Down 1.0%

Shares of NYSE:DAY traded down $0.58 during trading on Wednesday, reaching $56.29. 644,667 shares of the stock traded hands, compared to its average volume of 1,771,055. The stock has a market cap of $9.00 billion, a P/E ratio of 351.62, a price-to-earnings-growth ratio of 2.26 and a beta of 1.12. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.02 and a current ratio of 1.02. The stock has a 50-day moving average of $57.61 and a two-hundred day moving average of $63.46. Dayforce, Inc. has a 52-week low of $47.08 and a 52-week high of $82.69.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. TD Cowen upgraded shares of Dayforce from a "hold" rating to a "buy" rating and increased their target price for the stock from $67.00 to $68.00 in a report on Friday, March 7th. Jefferies Financial Group reiterated a "hold" rating on shares of Dayforce in a report on Friday, May 23rd. Wells Fargo & Company lowered shares of Dayforce from an "equal weight" rating to an "underweight" rating and lowered their price objective for the stock from $60.00 to $50.00 in a report on Friday, June 13th. Needham & Company LLC reiterated a "buy" rating and set a $95.00 target price on shares of Dayforce in a report on Thursday, May 8th. Finally, UBS Group raised their target price on Dayforce from $68.00 to $72.00 and gave the company a "buy" rating in a research note on Thursday, June 5th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $70.86.

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.