APG Asset Management N.V. Decreases Stock Position in Dayforce, Inc. $DAY

APG Asset Management N.V. cut its holdings in Dayforce, Inc. (NYSE:DAY) by 1.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 86,300 shares of the company’s stock after selling 900 shares during the period. APG Asset Management N.V.’s holdings in Dayforce were worth $4,660,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Principal Financial Group Inc. raised its stake in Dayforce by 53.0% in the first quarter. Principal Financial Group Inc. now owns 273,055 shares of the company’s stock valued at $15,927,000 after buying an additional 94,635 shares in the last quarter. Teacher Retirement System of Texas acquired a new stake in Dayforce in the first quarter valued at $1,282,000. Mirae Asset Global Investments Co. Ltd. raised its stake in Dayforce by 13.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,585 shares of the company’s stock valued at $1,259,000 after buying an additional 2,557 shares in the last quarter. Amalgamated Bank raised its stake in Dayforce by 2.2% in the first quarter. Amalgamated Bank now owns 30,966 shares of the company’s stock valued at $1,806,000 after buying an additional 661 shares in the last quarter. Finally, Fifth Third Bancorp raised its stake in Dayforce by 7.1% in the first quarter. Fifth Third Bancorp now owns 9,802 shares of the company’s stock valued at $572,000 after buying an additional 648 shares in the last quarter.

Dayforce Stock Up 0.2%

DAY opened at $69.61 on Wednesday. The business’s 50-day simple moving average is $57.75 and its 200-day simple moving average is $58.15. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.04 and a current ratio of 1.04. Dayforce, Inc. has a one year low of $48.01 and a one year high of $82.69. The stock has a market capitalization of $11.12 billion, a P/E ratio of 232.02, a price-to-earnings-growth ratio of 2.61 and a beta of 1.11.

Dayforce (NYSE:DAY) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.09. Dayforce had a return on equity of 7.37% and a net margin of 2.65%.The firm had revenue of $464.70 million for the quarter, compared to analyst estimates of $457.83 million. During the same quarter last year, the company posted $0.48 earnings per share. The business’s revenue was up 9.8% on a year-over-year basis. Analysts anticipate that Dayforce, Inc. will post 1.48 EPS for the current year.

Insider Buying and Selling

In related news, EVP Samer Alkharrat sold 4,659 shares of the firm’s stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $59.69, for a total transaction of $278,095.71. Following the transaction, the executive vice president owned 127,632 shares of the company’s stock, valued at $7,618,354.08. This trade represents a 3.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 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 value of $113,265.59. Following the transaction, the executive vice president directly owned 103,684 shares in the company, valued at approximately $5,703,656.84. This represents a 1.95% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,382 shares of company stock valued at $539,860 over the last quarter. 4.50% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on DAY. Mizuho set a $70.00 price target on Dayforce in a research note on Friday. Barclays raised their price target on Dayforce from $61.00 to $70.00 and gave the company an “equal weight” rating in a research note on Friday, August 22nd. TD Cowen cut Dayforce from a “buy” rating to a “hold” rating in a research report on Thursday, August 21st. KeyCorp cut Dayforce from an “overweight” rating to a “sector weight” rating in a research report on Friday, August 22nd. Finally, Jefferies Financial Group lifted their target price on Dayforce from $60.00 to $70.00 and gave the stock a “hold” rating in a research report on Thursday, August 21st. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and eleven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $71.43.

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.