Dai ichi Life Insurance Company Ltd Invests $566,000 in Dayforce Inc (NYSE:DAY)

Dai ichi Life Insurance Company Ltd acquired a new stake in shares of Dayforce Inc (NYSE:DAY) during the second quarter, according to its most recent filing with the SEC. The fund acquired 11,412 shares of the company’s stock, valued at approximately $566,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Sentry Investment Management LLC purchased a new stake in Dayforce in the 2nd quarter worth approximately $33,000. American Century Companies Inc. bought a new stake in Dayforce during the second quarter valued at $264,000. Acadian Asset Management LLC purchased a new position in Dayforce during the second quarter worth about $287,000. New Mexico Educational Retirement Board bought a new position in Dayforce in the 2nd quarter worth about $392,000. Finally, Prudential PLC purchased a new stake in shares of Dayforce in the 2nd quarter valued at about $490,000.

Dayforce Stock Up 0.3 %

Shares of Dayforce stock opened at $59.60 on Tuesday. The company’s 50 day moving average price is $54.75 and its 200-day moving average price is $57.44. 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. The stock has a market capitalization of $9.41 billion, a price-to-earnings ratio of 180.61, a P/E/G ratio of 2.07 and a beta of 1.29.

Dayforce (NYSE:DAY) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.18 by $0.05. The firm had revenue of $423.30 million during 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%. Equities research analysts forecast that Dayforce Inc will post 1.08 EPS for the current year.

Wall Street Analysts Forecast Growth

DAY has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Dayforce from $70.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Wells Fargo & Company dropped their price target on Dayforce from $64.00 to $52.00 and set an “equal weight” rating for the company in a research note on Friday, June 21st. BMO Capital Markets reiterated an “outperform” rating and set a $75.00 price objective on shares of Dayforce in a research report on Tuesday, June 11th. Needham & Company LLC reaffirmed a “buy” rating and issued a $82.00 target price on shares of Dayforce in a research note on Wednesday, July 31st. Finally, Citigroup decreased their price target on shares of Dayforce from $72.00 to $66.00 and set a “buy” rating on the stock in a research note on Tuesday, June 18th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on 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.