Korea Investment CORP Lowers Stock Holdings in Dayforce Inc (NYSE:DAY)

Korea Investment CORP decreased its position in Dayforce Inc (NYSE:DAY - Free Report) by 42.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 46,879 shares of the company's stock after selling 33,890 shares during the quarter. Korea Investment CORP's holdings in Dayforce were worth $3,405,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of DAY. Principal Financial Group Inc. bought a new position in shares of Dayforce during the 3rd quarter valued at about $11,135,000. Smartleaf Asset Management LLC lifted its position in shares of Dayforce by 69.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,227 shares of the company's stock worth $89,000 after buying an additional 501 shares in the last quarter. Retirement Systems of Alabama bought a new position in Dayforce during the third quarter valued at approximately $2,105,000. SG Americas Securities LLC grew its holdings in Dayforce by 167.7% during the 4th quarter. SG Americas Securities LLC now owns 19,322 shares of the company's stock valued at $1,404,000 after buying an additional 12,103 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in Dayforce by 31.8% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,028 shares of the company's stock worth $1,398,000 after acquiring an additional 4,596 shares during the last quarter.

Dayforce Stock Down 8.6 %

Shares of DAY traded down $4.86 during mid-day trading on Friday, reaching $51.40. The company's stock had a trading volume of 3,276,120 shares, compared to its average volume of 1,726,436. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.13 and a quick ratio of 1.15. Dayforce Inc has a 12-month low of $47.08 and a 12-month high of $82.69. The stock has a market cap of $8.13 billion, a PE ratio of 467.32, a price-to-earnings-growth ratio of 2.49 and a beta of 1.20. The company's 50 day moving average is $61.97 and its 200 day moving average is $67.89.

Remove Ads

Dayforce (NYSE:DAY - Get Free Report) last posted its 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 net margin of 1.03% and a return on equity of 6.49%. Equities analysts anticipate that Dayforce Inc will post 1.48 EPS for the current fiscal year.

Insider Transactions at Dayforce

In other Dayforce news, COO Stephen H. Holdridge sold 1,000 shares of the company's stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $71.33, for a total transaction of $71,330.00. Following the transaction, the chief operating officer now directly owns 119,022 shares in the company, valued at approximately $8,489,839.26. This represents a 0.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 4.50% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Piper Sandler reiterated an "overweight" rating and set a $83.00 price objective (down previously from $94.00) on shares of Dayforce in a research report on Wednesday, February 5th. Scotiabank lowered their price target on shares of Dayforce from $72.00 to $55.00 and set a "sector perform" rating for the company in a report on Monday, March 17th. Cowen upgraded Dayforce from a "hold" rating to a "buy" rating in a research report on Friday, March 7th. TD Cowen upgraded Dayforce from a "hold" rating to a "buy" rating and upped their price objective for the company from $67.00 to $68.00 in a research report on Friday, March 7th. Finally, Stifel Nicolaus dropped their target price on Dayforce from $90.00 to $85.00 and set a "buy" rating for the company in a report on Thursday, February 6th. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price 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.