KBC Group NV Purchases New Shares in Dayforce Inc (NYSE:DAY)

KBC Group NV acquired a new position in Dayforce Inc (NYSE:DAY) in the third quarter, according to the company in its most recent 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 added to or reduced their stakes in the company. Select Equity Group L.P. purchased a new stake in shares of Dayforce in the 2nd quarter worth about $721,310,000. EdgePoint Investment Group Inc. bought a new position in shares of Dayforce during the second quarter valued at approximately $521,396,000. Dragoneer Investment Group LLC purchased a new position in shares of Dayforce during the second quarter valued at approximately $193,274,000. Dimensional Fund Advisors LP bought a new stake in shares of Dayforce in the 2nd quarter worth approximately $51,027,000. Finally, Cannae Holdings Inc. purchased a new stake in shares of Dayforce in the 2nd quarter worth approximately $49,600,000.

Dayforce Stock Up 0.2 %

Dayforce stock opened at $74.70 on Tuesday. Dayforce Inc has a one year low of $47.08 and a one year high of $81.32. The stock has a fifty day moving average of $65.44 and a 200 day moving average of $58.15. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.15 and a current ratio of 1.15. The stock has a market cap of $11.78 billion, a PE ratio of 226.36, a price-to-earnings-growth ratio of 3.50 and a beta of 1.27.

Insider Buying and Selling at Dayforce

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

Analysts Set New Price Targets

DAY has been the topic of several analyst reports. BMO Capital Markets boosted their target price on Dayforce from $80.00 to $90.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Citigroup upped their price target on shares of Dayforce from $75.00 to $81.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. KeyCorp lifted their target price on shares of Dayforce from $80.00 to $92.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Barclays increased their price target on shares of Dayforce from $70.00 to $80.00 and gave the company an “equal weight” rating in a report on Wednesday, November 13th. Finally, Mizuho boosted their price objective on shares of Dayforce from $85.00 to $95.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Dayforce currently has a consensus rating of “Moderate Buy” and an average target price of $78.77.

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.