Assenagon Asset Management S.A. Increases Stock Holdings in Dayforce Inc (NYSE:DAY)

Assenagon Asset Management S.A. boosted its position in Dayforce Inc (NYSE:DAY) by 119.7% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 91,939 shares of the company’s stock after purchasing an additional 50,097 shares during the period. Assenagon Asset Management S.A. owned about 0.06% of Dayforce worth $5,363,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of DAY. Asset Management One Co. Ltd. boosted its position in Dayforce by 1.9% in the fourth quarter. Asset Management One Co. Ltd. now owns 63,116 shares of the company’s stock worth $4,653,000 after purchasing an additional 1,198 shares during the last quarter. Vontobel Holding Ltd. bought a new position in shares of Dayforce in the fourth quarter worth about $258,000. CIBC Asset Management Inc raised its stake in shares of Dayforce by 4.3% in the fourth quarter. CIBC Asset Management Inc now owns 24,406 shares of the company’s stock worth $1,773,000 after buying an additional 995 shares during the period. ING Groep NV raised its stake in shares of Dayforce by 307.4% in the fourth quarter. ING Groep NV now owns 20,142 shares of the company’s stock worth $1,463,000 after buying an additional 15,198 shares during the period. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in shares of Dayforce by 4.4% in the fourth quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 33,254 shares of the company’s stock worth $2,416,000 after buying an additional 1,400 shares during the period.

Wall Street Analyst Weigh In

Several research firms have recently commented on DAY. KeyCorp decreased their price objective on Dayforce from $80.00 to $65.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 22nd. TD Cowen raised Dayforce from a “hold” rating to a “buy” rating and boosted their price target for the stock from $67.00 to $68.00 in a report on Friday, March 7th. Cowen raised Dayforce from a “hold” rating to a “buy” rating in a report on Friday, March 7th. Scotiabank lowered their price target on Dayforce from $72.00 to $55.00 and set a “sector perform” rating on the stock in a report on Monday, March 17th. Finally, Jefferies Financial Group reissued a “hold” rating on shares of Dayforce in a report on Friday, May 23rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $70.86.

Dayforce Stock Performance

NYSE:DAY opened at $56.97 on Friday. 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 1 year low of $47.08 and a 1 year high of $82.69. The stock’s 50 day simple moving average is $57.41 and its two-hundred day simple moving average is $63.77. The company has a market cap of $9.11 billion, a price-to-earnings ratio of 517.96, a PEG ratio of 2.49 and a beta of 1.12.

Insider Activity

In other news, EVP William Everett Mcdonald sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $56.16, for a total transaction of $112,320.00. Following the transaction, the executive vice president now owns 105,691 shares of the company’s stock, valued at approximately $5,935,606.56. The trade was a 1.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Samer Alkharrat sold 1,916 shares of the business’s stock in a transaction that occurred on Friday, April 25th. The shares were sold at an average price of $56.64, for a total value of $108,522.24. Following the transaction, the executive vice president now directly owns 150,237 shares in the company, valued at approximately $8,509,423.68. This represents a 1.26% decrease in their position. The disclosure for this sale can be found here. Corporate 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.