Forsta AP Fonden Invests $1.84 Million in Dayforce Inc (NYSE:DAY)

Forsta AP Fonden bought a new stake in Dayforce Inc (NYSE:DAY) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 37,000 shares of the company’s stock, valued at approximately $1,835,000.

A number of other large investors have also added to or reduced their stakes in the company. Sentry Investment Management LLC purchased a new position in Dayforce in the 2nd quarter valued at about $33,000. American Century Companies Inc. acquired a new stake in Dayforce during the 2nd quarter valued at approximately $264,000. Acadian Asset Management LLC purchased a new stake in Dayforce during the 2nd quarter worth approximately $287,000. New Mexico Educational Retirement Board acquired a new position in shares of Dayforce in the 2nd quarter valued at approximately $392,000. Finally, Prudential PLC purchased a new position in shares of Dayforce during the 2nd quarter valued at approximately $490,000.

Dayforce Trading Up 0.3 %

NYSE:DAY opened at $59.60 on Tuesday. The firm has a market capitalization of $9.41 billion, a P/E ratio of 180.61, a P/E/G ratio of 2.07 and a beta of 1.29. The business has a 50 day simple moving average of $54.75 and a 200 day simple moving average of $57.44. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.11 and a quick ratio of 1.11. Dayforce Inc has a 12-month low of $47.08 and a 12-month high of $75.33.

Dayforce (NYSE:DAY) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $417.41 million. Equities research analysts predict that Dayforce Inc will post 1.08 EPS for the current year.

Analyst Ratings Changes

Several analysts recently issued reports on DAY shares. Piper Sandler raised shares of Dayforce from a “neutral” rating to an “overweight” rating and upped their price target for the company from $68.00 to $71.00 in a report on Wednesday, July 31st. Needham & Company LLC reaffirmed a “buy” rating and set a $82.00 price target on shares of Dayforce in a research report on Wednesday, July 31st. BMO Capital Markets reissued an “outperform” rating and issued a $75.00 price objective on shares of Dayforce in a report on Tuesday, June 11th. Wells Fargo & Company cut their price objective on Dayforce from $64.00 to $52.00 and set an “equal weight” rating on the stock in a research note on Friday, June 21st. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Dayforce from $70.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Dayforce presently has an average rating of “Moderate Buy” and an average 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.