KBC Group NV Invests $946,000 in Dayforce Inc (NYSE:DAY)

KBC Group NV purchased a new stake in Dayforce Inc (NYSE:DAY - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 15,451 shares of the company's stock, valued at approximately $946,000.

Several other institutional investors and hedge funds also recently made changes to their positions in DAY. Candriam S.C.A. acquired a new position in shares of Dayforce in the 2nd quarter valued at $6,027,000. New Mexico Educational Retirement Board acquired a new position in shares of Dayforce in the 2nd quarter valued at $392,000. Acadian Asset Management LLC acquired a new stake in Dayforce during the 2nd quarter worth approximately $287,000. Prudential PLC acquired a new stake in Dayforce during the 2nd quarter worth approximately $490,000. Finally, Texas Permanent School Fund Corp acquired a new stake in Dayforce during the 2nd quarter worth approximately $1,281,000.

Insiders Place Their Bets

In other Dayforce news, insider Jeffrey Scott Jacobs sold 643 shares of the firm's stock in a transaction that occurred 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. This trade represents a 1.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO Stephen H. Holdridge sold 1,000 shares of the firm's stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $76.26, for a total transaction of $76,260.00. Following the completion of the sale, the chief operating officer now owns 121,022 shares in the company, valued at $9,229,137.72. This represents a 0.82 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,643 shares of company stock worth $460,877 over the last ninety days. Corporate insiders own 4.90% of the company's stock.

Dayforce Price Performance

Dayforce stock traded up $0.16 during trading hours on Tuesday, reaching $74.81. 1,042,658 shares of the stock were exchanged, compared to its average volume of 1,605,744. The company has a market cap of $11.80 billion, a P/E ratio of 224.58, a price-to-earnings-growth ratio of 3.50 and a beta of 1.27. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.47. Dayforce Inc has a twelve month low of $47.08 and a twelve month high of $81.32. The stock has a 50 day moving average of $65.80 and a two-hundred day moving average of $58.27.

Analyst Upgrades and Downgrades

Several brokerages have commented on DAY. Citigroup raised their target price on shares of Dayforce from $75.00 to $81.00 and gave the stock a "buy" rating in a report on Thursday, October 31st. Barclays upped their price objective on Dayforce from $70.00 to $80.00 and gave the stock an "equal weight" rating in a research note on Wednesday, November 13th. Needham & Company LLC increased their price objective on Dayforce from $82.00 to $95.00 and gave the company a "buy" rating in a report on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Dayforce from $70.00 to $75.00 and gave the stock a "buy" rating in a research note on Thursday, August 1st. Finally, Scotiabank began coverage on Dayforce in a report on Monday. They issued a "sector perform" rating and a $75.00 price objective on the stock. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Dayforce has an average rating of "Moderate Buy" and an average price target of $78.77.

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.