BI Asset Management Fondsmaeglerselskab A S Sells 16,033 Shares of Dayforce, Inc. $DAY

Key Points

• BI Asset Management Fondsmaeglerselskab A S has significantly reduced its stake in Dayforce, Inc. by 87.2%, resulting in ownership of only 2,352 shares worth $137,000.
• Several other institutional investors, including the National Pension Service and Mather Group LLC, have increased their stakes in Dayforce, with notable percentage increases of 74.5% and 196.9%, respectively.
• Analyst ratings for Dayforce have varied, with Jefferies lifting their price target to $70.00 while Needham downgraded it to a hold with a target of $95.00, reflecting mixed sentiments among investment firms.

BI Asset Management Fondsmaeglerselskab A S cut its position in Dayforce, Inc. (NYSE:DAY - Free Report) by 87.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,352 shares of the company's stock after selling 16,033 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Dayforce were worth $137,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in DAY. National Pension Service grew its position in shares of Dayforce by 74.5% in the first quarter. National Pension Service now owns 541 shares of the company's stock valued at $32,000 after purchasing an additional 231 shares in the last quarter. Mather Group LLC. lifted its stake in Dayforce by 196.9% during the first quarter. Mather Group LLC. now owns 962 shares of the company's stock worth $56,000 after purchasing an additional 638 shares during the last quarter. Covestor Ltd lifted its stake in Dayforce by 15.6% during the first quarter. Covestor Ltd now owns 1,430 shares of the company's stock worth $83,000 after purchasing an additional 193 shares during the last quarter. Mufg Securities Americas Inc. bought a new stake in Dayforce during the fourth quarter worth about $169,000. Finally, CX Institutional bought a new stake in Dayforce during the first quarter worth about $190,000.

Dayforce Price Performance

DAY stock traded up $0.24 during trading on Thursday, reaching $69.79. The company's stock had a trading volume of 2,971,592 shares, compared to its average volume of 2,097,316. The company has a market capitalization of $11.15 billion, a P/E ratio of 232.65, a price-to-earnings-growth ratio of 2.59 and a beta of 1.11. The company's fifty day moving average is $58.02 and its 200-day moving average is $58.23. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.23. Dayforce, Inc. has a 1 year low of $48.01 and a 1 year high of $82.69.

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

Analyst Ratings Changes

A number of research firms have recently weighed in on DAY. Deutsche Bank Aktiengesellschaft boosted their target price on Dayforce from $60.00 to $70.00 and gave the company a "hold" rating in a research note on Friday, August 22nd. UBS Group upped their target price on Dayforce from $68.00 to $72.00 and gave the stock a "buy" rating in a report on Thursday, June 5th. Jefferies Financial Group upped their target price on Dayforce from $60.00 to $70.00 and gave the stock a "hold" rating in a report on Thursday, August 21st. Citigroup upped their price target on Dayforce from $68.00 to $70.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. Finally, Piper Sandler raised Dayforce to a "strong-buy" rating in a research report on Tuesday, August 19th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $71.43.

Insider Activity at Dayforce

In related news, EVP Samer Alkharrat sold 4,659 shares of the stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $59.69, for a total value of $278,095.71. Following the completion of the transaction, the executive vice president owned 127,632 shares of the company's stock, valued at approximately $7,618,354.08. This trade represents a 3.52% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP William Everett Mcdonald sold 2,059 shares of the firm's stock in a transaction dated Tuesday, July 15th. The stock was 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 directly owned 103,684 shares of the company's stock, valued at approximately $5,703,656.84. The trade was a 1.95% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 9,382 shares of company stock valued at $539,860. 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.