Canada Pension Plan Investment Board Makes New Investment in Dayforce Inc (NYSE:DAY)

Canada Pension Plan Investment Board acquired a new stake in Dayforce Inc (NYSE:DAY) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,961 shares of the company’s stock, valued at approximately $97,000.

Several other hedge funds have also modified their holdings of DAY. Financial Perspectives Inc purchased a new stake in Dayforce during the 2nd quarter worth about $28,000. Sentry Investment Management LLC purchased a new stake in shares of Dayforce during the second quarter worth approximately $33,000. Benjamin F. Edwards & Company Inc. purchased a new stake in shares of Dayforce during the second quarter worth approximately $62,000. Brown Brothers Harriman & Co. acquired a new stake in Dayforce in the second quarter valued at approximately $66,000. Finally, American Century Companies Inc. purchased a new position in Dayforce in the second quarter worth approximately $264,000.

Dayforce Trading Up 2.4 %

NYSE DAY opened at $60.20 on Friday. The firm’s fifty day moving average is $55.97 and its two-hundred day moving average is $57.12. Dayforce Inc has a one year low of $47.08 and a one year high of $75.33. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.11 and a current ratio of 1.11. The firm has a market cap of $9.51 billion, a PE ratio of 182.42, a P/E/G ratio of 2.12 and a beta of 1.29.

Dayforce (NYSE:DAY) last issued 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 return on equity of 6.35% and a net margin of 2.89%. The firm had revenue of $423.30 million for the quarter, compared to analysts’ expectations of $417.41 million. Analysts expect that Dayforce Inc will post 1.08 earnings per share for the current year.

Analyst Ratings Changes

DAY has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Dayforce from $70.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Citigroup lifted their price target on Dayforce from $74.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday. Piper Sandler upgraded Dayforce from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $68.00 to $71.00 in a report on Wednesday, July 31st. TD Cowen decreased their target price on Dayforce from $63.00 to $53.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Finally, KeyCorp assumed coverage on Dayforce in a report on Tuesday, September 24th. They issued an “overweight” rating and a $70.00 price target for the company. Three research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Dayforce currently has a consensus rating of “Moderate Buy” and an average price target of $69.36.

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.