Acadian Asset Management LLC Makes New Investment in Dayforce Inc (NYSE:DAY)

Acadian Asset Management LLC purchased a new position in shares of Dayforce Inc (NYSE:DAY) during the second quarter, HoldingsChannel.com reports. The fund purchased 5,810 shares of the company’s stock, valued at approximately $287,000.

Separately, Candriam S.C.A. acquired a new stake in Dayforce during the 2nd quarter worth approximately $6,027,000.

Wall Street Analysts Forecast Growth

DAY has been the subject of several research analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $82.00 price target on shares of Dayforce in a report on Wednesday, July 31st. Citigroup reduced their target price on shares of Dayforce from $72.00 to $66.00 and set a “buy” rating for the company in a research note on Tuesday, June 18th. TD Cowen dropped their price target on Dayforce from $63.00 to $53.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. Wells Fargo & Company reduced their price objective on Dayforce from $64.00 to $52.00 and set an “equal weight” rating for the company in a research report on Friday, June 21st. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $75.00 price objective on shares of Dayforce in a report on Tuesday, June 11th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Dayforce has a consensus rating of “Moderate Buy” and an average price target of $68.40.

Dayforce Stock Up 0.8 %

DAY stock opened at $59.64 on Friday. The company has a market cap of $9.42 billion, a price-to-earnings ratio of 180.73, a P/E/G ratio of 2.07 and a beta of 1.29. Dayforce Inc has a twelve month low of $47.08 and a twelve month high of $75.33. The business has a 50 day moving average price of $55.34 and a two-hundred day moving average price of $57.40. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.49.

Dayforce (NYSE:DAY) last released its earnings results on Wednesday, July 31st. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.05. The business had revenue of $423.30 million during the quarter, compared to analysts’ expectations of $417.41 million. Dayforce had a net margin of 2.89% and a return on equity of 6.35%. Analysts anticipate that Dayforce Inc will post 1.08 EPS for the current fiscal year.

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.