Hollencrest Capital Management Buys Shares of 88,949 Dayforce Inc (NYSE:DAY)

Hollencrest Capital Management purchased a new stake in shares of Dayforce Inc (NYSE:DAY) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 88,949 shares of the company’s stock, valued at approximately $4,412,000. Hollencrest Capital Management owned approximately 0.06% of Dayforce at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Financial Perspectives Inc bought a new position in shares of Dayforce during the second quarter valued at $28,000. Sentry Investment Management LLC acquired a new position in Dayforce during the 2nd quarter worth about $33,000. Benjamin F. Edwards & Company Inc. bought a new stake in shares of Dayforce in the 2nd quarter valued at about $62,000. Brown Brothers Harriman & Co. bought a new position in shares of Dayforce during the second quarter worth about $66,000. Finally, Canada Pension Plan Investment Board acquired a new position in shares of Dayforce in the second quarter worth approximately $97,000.

Dayforce Price Performance

Shares of DAY opened at $59.64 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.49. The business’s fifty day moving average is $55.34 and its 200 day moving average is $57.40. Dayforce Inc has a 12-month low of $47.08 and a 12-month high of $75.33. The stock has a market cap of $9.42 billion, a P/E ratio of 180.73, a P/E/G ratio of 2.07 and a beta of 1.29.

Dayforce (NYSE:DAY) last posted its earnings results on Wednesday, July 31st. The company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.05. Dayforce had a net margin of 2.89% and a return on equity of 6.35%. The company had revenue of $423.30 million for the quarter, compared to analyst estimates of $417.41 million. Sell-side analysts anticipate that Dayforce Inc will post 1.08 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft raised their price target on shares of Dayforce from $70.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Piper Sandler upgraded shares of Dayforce from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $68.00 to $71.00 in a report on Wednesday, July 31st. Wells Fargo & Company decreased their price target on Dayforce from $64.00 to $52.00 and set an “equal weight” rating for the company in a report on Friday, June 21st. Citigroup dropped their price objective on Dayforce from $72.00 to $66.00 and set a “buy” rating on the stock in a research note on Tuesday, June 18th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $75.00 target price on shares of Dayforce in a report on Tuesday, June 11th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $68.40.

About Dayforce

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.