Daiwa Securities Group Inc. Makes New $1.25 Million Investment in Dayforce Inc (NYSE:DAY)

Daiwa Securities Group Inc. purchased a new position in Dayforce Inc (NYSE:DAY) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 25,230 shares of the company’s stock, valued at approximately $1,251,000.

Other hedge funds have also added to or reduced their stakes in the company. Candriam S.C.A. purchased a new position in shares of Dayforce in the second quarter valued at about $6,027,000. Royal London Asset Management Ltd. purchased a new position in shares of Dayforce in the second quarter valued at about $2,942,000. Texas Permanent School Fund Corp purchased a new position in shares of Dayforce in the second quarter valued at about $1,281,000. Prudential PLC purchased a new position in shares of Dayforce in the second quarter valued at about $490,000. Finally, New Mexico Educational Retirement Board purchased a new position in shares of Dayforce in the second quarter valued at about $392,000.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on DAY. Wells Fargo & Company reduced their price target on shares of Dayforce from $64.00 to $52.00 and set an “equal weight” rating on the stock in a research report on Friday, June 21st. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Dayforce from $70.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Needham & Company LLC reiterated a “buy” rating and set a $82.00 price target on shares of Dayforce in a research report on Wednesday, July 31st. Piper Sandler upgraded shares of Dayforce from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $68.00 to $71.00 in a research report on Wednesday, July 31st. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $75.00 price target on shares of Dayforce in a research report on Tuesday, June 11th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Dayforce has a consensus rating of “Moderate Buy” and a consensus target price of $68.40.

Dayforce Trading Up 1.1 %

Shares of NYSE DAY opened at $59.41 on Monday. The firm’s 50 day moving average price is $54.53 and its 200-day moving average price is $57.51. The company has a market cap of $9.38 billion, a PE ratio of 180.03, a P/E/G ratio of 2.07 and a beta of 1.29. Dayforce Inc has a 52-week low of $47.08 and a 52-week 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.

Dayforce (NYSE:DAY) last issued its earnings results on Wednesday, July 31st. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.05. The firm had revenue of $423.30 million for the quarter, compared to the consensus estimate of $417.41 million. Dayforce had a net margin of 2.89% and a return on equity of 6.35%. On average, equities research analysts expect that Dayforce Inc will post 1.08 EPS for the current fiscal year.

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.