Dai ichi Life Insurance Company Ltd Buys New Holdings in Dayforce Inc (NYSE:DAY)

Dai ichi Life Insurance Company Ltd purchased a new position in Dayforce Inc (NYSE:DAY) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 11,412 shares of the company’s stock, valued at approximately $566,000.

A number of other hedge funds have also recently added to or reduced their stakes in DAY. Candriam S.C.A. bought a new position in shares of Dayforce in the 2nd quarter worth $6,027,000. Royal London Asset Management Ltd. acquired a new position in Dayforce during the second quarter worth $2,942,000. State of New Jersey Common Pension Fund D bought a new position in shares of Dayforce in the second quarter valued at $2,760,000. Forsta AP Fonden acquired a new position in shares of Dayforce during the second quarter valued at about $1,835,000. Finally, Texas Permanent School Fund Corp bought a new stake in shares of Dayforce during the second quarter worth about $1,281,000.

Dayforce Stock Up 0.3 %

DAY opened at $59.60 on Tuesday. Dayforce Inc has a twelve month low of $47.08 and a twelve month high of $75.33. The company’s 50-day moving average price is $54.75 and its two-hundred day moving average price is $57.44. The stock has a market cap of $9.41 billion, a price-to-earnings ratio of 180.61, a PEG ratio of 2.07 and a beta of 1.29. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.49.

Dayforce (NYSE:DAY) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.18 by $0.05. Dayforce had a return on equity of 6.35% and a net margin of 2.89%. The business had revenue of $423.30 million for the quarter, compared to the consensus estimate of $417.41 million. As a group, equities analysts expect that Dayforce Inc will post 1.08 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have issued reports on DAY shares. Deutsche Bank Aktiengesellschaft lifted their price target on Dayforce from $70.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Piper Sandler upgraded Dayforce from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $68.00 to $71.00 in a report on Wednesday, July 31st. BMO Capital Markets restated an “outperform” rating and set a $75.00 price objective on shares of Dayforce in a research note on Tuesday, June 11th. TD Cowen reduced their target price on shares of Dayforce from $63.00 to $53.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $82.00 target price on shares of Dayforce in a report on Wednesday, July 31st. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Dayforce has a consensus rating of “Moderate Buy” and a consensus price target of $68.40.

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.