Assenagon Asset Management S.A. Increases Holdings in Dayforce, Inc. $DAY

Assenagon Asset Management S.A. grew its position in shares of Dayforce, Inc. (NYSE:DAY) by 1,055.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 567,796 shares of the company’s stock after buying an additional 518,636 shares during the quarter. Assenagon Asset Management S.A. owned 0.36% of Dayforce worth $39,115,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. MUFG Securities EMEA plc bought a new position in Dayforce in the second quarter valued at about $26,000. SVB Wealth LLC bought a new stake in shares of Dayforce during the 1st quarter valued at about $30,000. Assetmark Inc. increased its position in shares of Dayforce by 701.4% during the 2nd quarter. Assetmark Inc. now owns 561 shares of the company’s stock valued at $31,000 after purchasing an additional 491 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Dayforce by 50.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 715 shares of the company’s stock worth $40,000 after purchasing an additional 240 shares during the period. Finally, State of Wyoming bought a new position in shares of Dayforce in the 2nd quarter worth approximately $54,000.

Dayforce Trading Up 0.1%

Shares of Dayforce stock opened at $69.32 on Friday. The company has a market capitalization of $11.09 billion, a P/E ratio of -73.74, a P/E/G ratio of 2.68 and a beta of 1.20. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.04 and a current ratio of 1.04. The company has a fifty day moving average of $68.78 and a 200 day moving average of $64.20. Dayforce, Inc. has a fifty-two week low of $48.01 and a fifty-two week high of $75.80.

Dayforce (NYSE:DAY) last released its quarterly earnings data on Wednesday, October 29th. The company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.19). Dayforce had a positive return on equity of 6.54% and a negative net margin of 7.91%.The business had revenue of $481.60 million during the quarter, compared to the consensus estimate of $481.22 million. During the same period last year, the company earned $0.47 EPS. The business’s revenue was up 9.5% on a year-over-year basis. On average, sell-side analysts anticipate that Dayforce, Inc. will post 1.48 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have weighed in on DAY shares. UBS Group downgraded shares of Dayforce from a “strong-buy” rating to a “hold” rating in a research report on Saturday, November 15th. Wells Fargo & Company upgraded Dayforce from a “strong sell” rating to an “equal weight” rating and upped their price objective for the stock from $50.00 to $70.00 in a research note on Friday, August 22nd. Stifel Nicolaus reaffirmed a “hold” rating and issued a $70.00 target price (down from $72.00) on shares of Dayforce in a report on Friday, September 19th. Zacks Research downgraded Dayforce from a “hold” rating to a “strong sell” rating in a research report on Wednesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Dayforce from $60.00 to $70.00 and gave the stock a “hold” rating in a research report on Friday, August 22nd. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, fourteen have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $70.36.

Insider Activity at Dayforce

In other news, EVP William Everett Mcdonald sold 1,912 shares of the business’s stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $68.25, for a total value of $130,494.00. Following the sale, the executive vice president directly owned 101,772 shares in the company, valued at $6,945,939. The trade was a 1.84% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Samer Alkharrat sold 3,233 shares of the firm’s stock in a transaction that occurred on Friday, October 24th. The shares were sold at an average price of $68.55, for a total value of $221,622.15. Following the completion of the sale, the executive vice president directly owned 117,934 shares of the company’s stock, valued at $8,084,375.70. The trade was a 2.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 74,179 shares of company stock worth $5,081,560 in the last three months. Insiders own 4.50% of the company’s stock.

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.