KBC Group NV Trims Stake in Dayforce, Inc. (NYSE:DAY)

KBC Group NV lowered its stake in Dayforce, Inc. (NYSE:DAY) by 88.3% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 27,154 shares of the company’s stock after selling 205,828 shares during the period. KBC Group NV’s holdings in Dayforce were worth $1,584,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in DAY. Proficio Capital Partners LLC purchased a new stake in Dayforce during the 4th quarter valued at $1,314,000. QRG Capital Management Inc. bought a new position in shares of Dayforce during the 4th quarter valued at $227,000. Metis Global Partners LLC lifted its holdings in shares of Dayforce by 3.8% during the 4th quarter. Metis Global Partners LLC now owns 5,261 shares of the company’s stock valued at $382,000 after buying an additional 193 shares during the period. Smartleaf Asset Management LLC lifted its holdings in shares of Dayforce by 69.0% during the 4th 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, Charles Schwab Investment Management Inc. raised its holdings in Dayforce by 0.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,399,628 shares of the company’s stock worth $101,669,000 after purchasing an additional 4,584 shares during the period.

Dayforce Price Performance

NYSE DAY opened at $57.22 on Friday. The firm’s fifty day simple moving average is $57.90 and its two-hundred day simple moving average is $61.70. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.24. Dayforce, Inc. has a 12-month low of $47.08 and a 12-month high of $82.69. The firm has a market capitalization of $9.15 billion, a P/E ratio of 357.67, a P/E/G ratio of 2.17 and a beta of 1.08.

Insider Buying and Selling at Dayforce

In related news, EVP William Everett Mcdonald sold 2,000 shares of the company’s stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $56.16, for a total value of $112,320.00. Following the transaction, the executive vice president directly owned 105,691 shares of the company’s stock, valued at $5,935,606.56. This represents a 1.86% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Samer Alkharrat sold 1,916 shares of the company’s stock in a transaction 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 completion of the transaction, the executive vice president directly owned 150,237 shares in the company, valued at approximately $8,509,423.68. The trade was a 1.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,580 shares of company stock worth $259,321. 4.50% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

DAY has been the topic of a number of recent research reports. KeyCorp decreased their target price on Dayforce from $80.00 to $65.00 and set an “overweight” rating on the stock in a report on Tuesday, April 22nd. Piper Sandler decreased their price target on Dayforce from $83.00 to $70.00 and set an “overweight” rating on the stock in a report on Wednesday, May 7th. Wells Fargo & Company lowered Dayforce from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $60.00 to $50.00 in a research report on Friday, June 13th. UBS Group raised their price objective on Dayforce from $68.00 to $72.00 and gave the company a “buy” rating in a research report on Thursday, June 5th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $95.00 price target on shares of Dayforce in a research report on Monday. One analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $70.86.

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.