KLP Kapitalforvaltning AS Lowers Stake in Dayforce, Inc. $DAY

KLP Kapitalforvaltning AS lowered its stake in shares of Dayforce, Inc. (NYSE:DAY) by 43.4% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 33,000 shares of the company’s stock after selling 25,300 shares during the period. KLP Kapitalforvaltning AS’s holdings in Dayforce were worth $1,828,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. SVB Wealth LLC purchased a new position in shares of Dayforce during the 1st quarter worth approximately $30,000. National Pension Service boosted its position in shares of Dayforce by 74.5% during the 1st quarter. National Pension Service now owns 541 shares of the company’s stock worth $32,000 after purchasing an additional 231 shares during the period. Mather Group LLC. boosted its position in shares of Dayforce by 196.9% during the 1st quarter. Mather Group LLC. now owns 962 shares of the company’s stock worth $56,000 after purchasing an additional 638 shares during the period. Covestor Ltd boosted its position in shares of Dayforce by 15.6% during the 1st quarter. Covestor Ltd now owns 1,430 shares of the company’s stock worth $83,000 after purchasing an additional 193 shares during the period. Finally, Groupe la Francaise purchased a new position in Dayforce in the 1st quarter valued at approximately $143,000.

Insider Transactions at Dayforce

In other news, EVP Samer Alkharrat sold 3,232 shares of Dayforce stock in a transaction on Thursday, September 25th. The shares were sold at an average price of $68.78, for a total transaction of $222,296.96. Following the completion of the sale, the executive vice president directly owned 121,167 shares of the company’s stock, valued at approximately $8,333,866.26. The trade was a 2.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP William Everett Mcdonald sold 2,059 shares of Dayforce stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $55.01, for a total transaction of $113,265.59. Following the sale, the executive vice president directly owned 103,684 shares of the company’s stock, valued at approximately $5,703,656.84. This trade represents a 1.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 13,950 shares of company stock valued at $861,578. Insiders own 4.50% of the company’s stock.

Dayforce Price Performance

Dayforce stock opened at $68.11 on Monday. The stock has a market cap of $10.88 billion, a P/E ratio of 227.04, a price-to-earnings-growth ratio of 2.51 and a beta of 1.17. The company has a fifty day simple moving average of $65.64 and a 200-day simple moving average of $60.10. Dayforce, Inc. has a 12-month low of $48.01 and a 12-month high of $82.69. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.23.

Dayforce (NYSE:DAY) last released its quarterly earnings data 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. The business had revenue of $464.70 million during the quarter, compared to analysts’ expectations of $457.83 million. Dayforce had a net margin of 2.65% and a return on equity of 7.37%. The company’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.48 EPS. Equities analysts expect that Dayforce, Inc. will post 1.48 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Citigroup cut shares of Dayforce from a “buy” rating to a “neutral” rating and set a $70.00 price target for the company. in a research report on Wednesday, September 17th. Mizuho set a $70.00 price target on shares of Dayforce in a research report on Friday, August 22nd. Barclays raised their price target on shares of Dayforce from $61.00 to $70.00 and gave the company an “equal weight” rating in a research report on Friday, August 22nd. Deutsche Bank Aktiengesellschaft raised their price target on shares of Dayforce from $60.00 to $70.00 and gave the company a “hold” rating in a research report on Friday, August 22nd. Finally, Wells Fargo & Company raised shares of Dayforce from a “strong sell” rating to an “equal weight” rating and raised their price target for the company from $50.00 to $70.00 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 company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $70.36.

Dayforce Company 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.