Dragoneer Investment Group LLC Makes New $193.27 Million Investment in Dayforce Inc (NYSE:DAY)

Dragoneer Investment Group LLC acquired a new stake in shares of Dayforce Inc (NYSE:DAY) during the second quarter, HoldingsChannel reports. The firm acquired 3,896,644 shares of the company’s stock, valued at approximately $193,274,000. Dayforce accounts for 3.7% of Dragoneer Investment Group LLC’s holdings, making the stock its 14th largest holding.

Other large investors have also modified their holdings of the company. Financial Perspectives Inc acquired a new position in Dayforce in the second quarter worth about $28,000. Sentry Investment Management LLC acquired a new position in shares of Dayforce in the 2nd quarter worth approximately $33,000. Benjamin F. Edwards & Company Inc. bought a new position in shares of Dayforce during the 2nd quarter worth approximately $62,000. Brown Brothers Harriman & Co. acquired a new stake in Dayforce in the 2nd quarter valued at $66,000. Finally, Canada Pension Plan Investment Board bought a new stake in Dayforce in the second quarter valued at $97,000.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. TD Cowen cut their price objective on Dayforce from $63.00 to $53.00 and set a “buy” rating for the company in a report on Friday, June 28th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Dayforce from $70.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, August 1st. KeyCorp started coverage on shares of Dayforce in a research note on Tuesday. They set an “overweight” rating and a $70.00 price objective on the stock. Citigroup lifted their target price on shares of Dayforce from $74.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, BMO Capital Markets restated an “outperform” rating and set a $75.00 price target on shares of Dayforce in a research report on Tuesday, June 11th. Three analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $69.36.

Dayforce Stock Down 3.2 %

Shares of DAY opened at $58.49 on Thursday. The business’s fifty day moving average price is $55.72 and its two-hundred day moving average price is $57.16. The firm has a market capitalization of $9.25 billion, a price-to-earnings ratio of 177.25, a PEG ratio of 2.12 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 released its earnings results on Wednesday, July 31st. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $417.41 million. On average, analysts predict that Dayforce Inc will post 1.08 earnings per share for the current 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.