QRG Capital Management Inc. Buys Shares of 3,126 Dayforce Inc (NYSE:DAY)

QRG Capital Management Inc. bought a new stake in shares of Dayforce Inc (NYSE:DAY) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,126 shares of the company’s stock, valued at approximately $227,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Farther Finance Advisors LLC bought a new position in shares of Dayforce during the 3rd quarter worth approximately $40,000. Quarry LP bought a new position in shares of Dayforce during the 3rd quarter worth approximately $51,000. US Bancorp DE boosted its holdings in shares of Dayforce by 66.3% during the 3rd quarter. US Bancorp DE now owns 2,363 shares of the company’s stock worth $145,000 after buying an additional 942 shares in the last quarter. National Bank of Canada FI bought a new position in shares of Dayforce during the 3rd quarter worth approximately $179,000. Finally, Harbor Capital Advisors Inc. bought a new position in shares of Dayforce during the 3rd quarter worth approximately $192,000.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on DAY shares. Stifel Nicolaus cut their price target on Dayforce from $90.00 to $85.00 and set a “buy” rating on the stock in a report on Thursday, February 6th. BMO Capital Markets increased 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. Piper Sandler restated an “overweight” rating and set a $83.00 price objective (down from $94.00) on shares of Dayforce in a research note on Wednesday, February 5th. TD Cowen raised Dayforce from a “hold” rating to a “buy” rating and raised their target price for the company from $67.00 to $68.00 in a research report on Friday. Finally, Jefferies Financial Group decreased their target price on Dayforce from $80.00 to $75.00 and set a “hold” rating for the company in a research report on Thursday, February 6th. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $79.07.

Insider Activity

In related news, COO Stephen H. Holdridge sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $71.33, for a total value of $71,330.00. Following the completion of the sale, the chief operating officer now owns 119,022 shares in the company, valued at $8,489,839.26. The trade was a 0.83 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 4.90% of the company’s stock.

Dayforce Stock Up 1.4 %

DAY stock opened at $55.43 on Friday. The company has a quick ratio of 1.15, a current ratio of 1.13 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $8.81 billion, a PE ratio of 503.96, a PEG ratio of 2.49 and a beta of 1.33. Dayforce Inc has a twelve month low of $47.08 and a twelve month high of $82.69. The stock has a 50-day simple moving average of $67.54 and a two-hundred day simple moving average of $67.76.

Dayforce (NYSE:DAY) last posted its earnings results on Wednesday, February 5th. The company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.09). Dayforce had a net margin of 1.03% and a return on equity of 6.49%. On average, equities analysts predict that Dayforce Inc will post 1.48 EPS for the current fiscal year.

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.