DnB Asset Management AS Acquires 3,521 Shares of Dayforce Inc (NYSE:DAY)

DnB Asset Management AS grew its holdings in Dayforce Inc (NYSE:DAY) by 12.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 32,293 shares of the company’s stock after buying an additional 3,521 shares during the quarter. DnB Asset Management AS’s holdings in Dayforce were worth $2,346,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Orion Portfolio Solutions LLC purchased a new stake in Dayforce in the fourth quarter worth $217,000. Pictet Asset Management Holding SA raised its holdings in Dayforce by 3.0% in the 4th quarter. Pictet Asset Management Holding SA now owns 790,126 shares of the company’s stock worth $57,395,000 after purchasing an additional 22,748 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its position in shares of Dayforce by 0.6% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 43,707 shares of the company’s stock worth $3,175,000 after purchasing an additional 277 shares during the period. Norges Bank bought a new stake in shares of Dayforce during the 4th quarter valued at about $10,278,000. Finally, NEOS Investment Management LLC increased its position in shares of Dayforce by 25.6% during the fourth quarter. NEOS Investment Management LLC now owns 6,074 shares of the company’s stock valued at $441,000 after buying an additional 1,238 shares during the period.

Insider Buying and Selling at Dayforce

In other news, COO Stephen H. Holdridge sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $71.33, for a total transaction of $71,330.00. Following the completion of the transaction, the chief operating officer now directly owns 119,022 shares of the company’s stock, valued at $8,489,839.26. The trade was a 0.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 4.50% of the company’s stock.

Dayforce Price Performance

Shares of DAY opened at $58.34 on Wednesday. The company has a market capitalization of $9.23 billion, a P/E ratio of 530.38, a price-to-earnings-growth ratio of 2.49 and a beta of 1.33. Dayforce Inc has a twelve month low of $47.08 and a twelve month high of $82.69. The company has a quick ratio of 1.15, a current ratio of 1.13 and a debt-to-equity ratio of 0.47. The firm has a 50 day moving average of $62.84 and a 200 day moving average of $67.97.

Dayforce (NYSE:DAY) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.09). Dayforce had a return on equity of 6.49% and a net margin of 1.03%. As a group, equities research analysts anticipate that Dayforce Inc will post 1.48 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on DAY. Needham & Company LLC restated a “buy” rating and issued a $95.00 price objective on shares of Dayforce in a report on Thursday, February 6th. Barclays dropped their price target on Dayforce from $80.00 to $69.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 6th. Cowen upgraded Dayforce from a “hold” rating to a “buy” rating in a report on Friday, March 7th. Citigroup lowered their price objective on Dayforce from $90.00 to $83.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. Finally, TD Cowen raised shares of Dayforce from a “hold” rating to a “buy” rating and upped their target price for the stock from $67.00 to $68.00 in a research report on Friday, March 7th. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $77.86.

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.