KLP Kapitalforvaltning AS Invests $4.24 Million in Dayforce Inc (NYSE:DAY)

KLP Kapitalforvaltning AS acquired a new stake in Dayforce Inc (NYSE:DAY - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 58,300 shares of the company's stock, valued at approximately $4,235,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in DAY. Quarry LP acquired a new stake in Dayforce in the third quarter worth about $51,000. Harvest Fund Management Co. Ltd acquired a new stake in shares of Dayforce during the 4th quarter worth approximately $61,000. AlphaQuest LLC raised its stake in shares of Dayforce by 14,800.0% during the fourth quarter. AlphaQuest LLC now owns 1,043 shares of the company's stock worth $76,000 after buying an additional 1,036 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in Dayforce by 69.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,227 shares of the company's stock valued at $89,000 after buying an additional 501 shares during the period. Finally, National Bank of Canada FI bought a new position in Dayforce in the third quarter valued at approximately $179,000.

Dayforce Stock Down 2.2 %

DAY traded down $1.34 on Friday, hitting $58.31. 1,361,223 shares of the company were exchanged, compared to its average volume of 1,731,721. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.15 and a current ratio of 1.13. The stock's fifty day moving average is $63.29 and its 200-day moving average is $67.91. The company has a market cap of $9.23 billion, a PE ratio of 530.15, a PEG ratio of 2.49 and a beta of 1.33. Dayforce Inc has a 12 month low of $47.08 and a 12 month high of $82.69.

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Dayforce (NYSE:DAY - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The company reported $0.37 EPS 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 research analysts predict that Dayforce Inc will post 1.48 EPS for the current fiscal year.

Insider Activity at Dayforce

In other Dayforce news, COO Stephen H. Holdridge sold 1,000 shares of the company's stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $71.33, for a total transaction of $71,330.00. Following the completion of the sale, the chief operating officer now directly owns 119,022 shares in the company, valued at $8,489,839.26. This represents a 0.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 4.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on DAY. Scotiabank cut their price target on Dayforce from $72.00 to $55.00 and set a "sector perform" rating on the stock in a research note on Monday, March 17th. Piper Sandler restated an "overweight" rating and issued a $83.00 price objective (down previously from $94.00) on shares of Dayforce in a research report on Wednesday, February 5th. Needham & Company LLC reaffirmed a "buy" rating and set a $95.00 price target on shares of Dayforce in a research report on Thursday, February 6th. TD Cowen raised Dayforce from a "hold" rating to a "buy" rating and increased their target price for the stock from $67.00 to $68.00 in a research note on Friday, March 7th. Finally, Barclays cut their price target on shares of Dayforce from $80.00 to $69.00 and set an "equal weight" rating on the stock in a research note on Thursday, February 6th. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target 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.