KBC Group NV Makes New $946,000 Investment in Dayforce Inc (NYSE:DAY)

KBC Group NV acquired a new position in Dayforce Inc (NYSE:DAY) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 15,451 shares of the company’s stock, valued at approximately $946,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Sumitomo Mitsui Trust Group Inc. bought a new stake in Dayforce during the third quarter valued at about $19,273,000. State of New Jersey Common Pension Fund D raised its stake in Dayforce by 1.1% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 56,294 shares of the company’s stock valued at $3,448,000 after purchasing an additional 640 shares during the period. Principal Financial Group Inc. purchased a new position in Dayforce in the 3rd quarter worth approximately $11,135,000. Mn Services Vermogensbeheer B.V. bought a new stake in shares of Dayforce during the third quarter valued at approximately $3,485,000. Finally, Asset Management One Co. Ltd. purchased a new position in shares of Dayforce in the third quarter worth $3,792,000.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Dayforce from $70.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, August 1st. KeyCorp lifted their target price on Dayforce from $80.00 to $92.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Citigroup increased their price target on Dayforce from $75.00 to $81.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Barclays lifted 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. Finally, Scotiabank assumed coverage on Dayforce in a research report on Monday. They set a “sector perform” rating and a $75.00 target price for the company. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $78.77.

Insider Activity at Dayforce

In other news, COO Stephen H. Holdridge sold 1,000 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 transaction of $63,370.00. Following the completion of the sale, the chief operating officer now directly owns 101,437 shares of the company’s stock, valued at approximately $6,428,062.69. The trade was a 0.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jeffrey Scott Jacobs sold 643 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $63.37, for a total transaction of $40,746.91. Following the completion of the transaction, the insider now directly owns 34,074 shares in the company, valued at $2,159,269.38. This represents a 1.85 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,643 shares of company stock worth $384,617. Insiders own 4.90% of the company’s stock.

Dayforce Trading Up 0.2 %

DAY stock opened at $74.70 on Tuesday. The firm’s fifty day simple moving average is $65.44 and its two-hundred day simple moving average is $58.15. The stock has a market capitalization of $11.78 billion, a price-to-earnings ratio of 226.36, a price-to-earnings-growth ratio of 3.50 and a beta of 1.27. The company has a quick ratio of 1.15, a current 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.

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.