Assenagon Asset Management S.A. Acquires New Stake in Dayforce Inc (NYSE:DAY)

Assenagon Asset Management S.A. bought a new position in shares of Dayforce Inc (NYSE:DAY) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 38,949 shares of the company’s stock, valued at approximately $2,386,000.

Several other institutional investors have also recently made changes to their positions in DAY. Candriam S.C.A. purchased a new stake in shares of Dayforce during the second quarter worth $6,027,000. New Mexico Educational Retirement Board purchased a new stake in shares of Dayforce during the second quarter worth $392,000. Acadian Asset Management LLC purchased a new stake in shares of Dayforce during the second quarter worth $287,000. Prudential PLC purchased a new stake in shares of Dayforce during the second quarter worth $490,000. Finally, Texas Permanent School Fund Corp purchased a new stake in shares of Dayforce in the second quarter worth $1,281,000.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on DAY. Mizuho increased their price objective on Dayforce from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Thursday. Citigroup increased their price objective on Dayforce from $75.00 to $81.00 and gave the stock a “buy” rating in a research report on Thursday. Piper Sandler increased their price objective on Dayforce from $71.00 to $82.00 and gave the stock an “overweight” rating in a research report on Thursday. KeyCorp assumed coverage on Dayforce in a research report on Tuesday, September 24th. They issued an “overweight” rating and a $70.00 price objective on the stock. Finally, TD Cowen raised their price target on Dayforce from $58.00 to $62.00 and gave the company a “hold” rating in a research report on Monday, October 7th. Five research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $72.25.

Insiders Place Their Bets

In other Dayforce news, insider Jeffrey Scott Jacobs sold 643 shares of the business’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $63.37, for a total value of $40,746.91. Following the sale, the insider now owns 34,074 shares in the company, valued at $2,159,269.38. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, COO Stephen H. Holdridge sold 1,000 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $63.37, for a total transaction of $63,370.00. Following the sale, the chief operating officer now directly owns 101,437 shares in the company, valued at approximately $6,428,062.69. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jeffrey Scott Jacobs sold 643 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $63.37, for a total transaction of $40,746.91. Following the sale, the insider now owns 34,074 shares in the company, valued at $2,159,269.38. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 4,643 shares of company stock worth $307,617 in the last 90 days. 4.90% of the stock is currently owned by corporate insiders.

Dayforce Trading Up 1.2 %

Shares of DAY stock opened at $70.95 on Friday. Dayforce Inc has a 1 year low of $47.08 and a 1 year high of $74.66. The firm has a fifty day moving average price of $60.74 and a 200-day moving average price of $56.80. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.11 and a quick ratio of 1.11. The company has a market cap of $11.22 billion, a price-to-earnings ratio of 236.50, a PEG ratio of 2.23 and a beta of 1.29.

Dayforce (NYSE:DAY) last issued its earnings results on Wednesday, July 31st. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.05. The company had revenue of $423.30 million during the quarter, compared to the consensus estimate of $417.41 million. Dayforce had a net margin of 2.89% and a return on equity of 6.35%. As a group, equities analysts predict that Dayforce Inc will post 1.07 earnings per share for the current year.

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.