Mutual of America Capital Management LLC Invests $988,000 in Dayforce Inc (NYSE:DAY)

Mutual of America Capital Management LLC purchased a new stake in Dayforce Inc (NYSE:DAY) in the 2nd quarter, HoldingsChannel reports. The firm purchased 19,919 shares of the company’s stock, valued at approximately $988,000.

A number of other hedge funds have also recently added to or reduced their stakes in DAY. Financial Perspectives Inc acquired a new stake in Dayforce in the second quarter valued at approximately $28,000. Sentry Investment Management LLC bought a new position in shares of Dayforce during the 2nd quarter valued at $33,000. Brown Brothers Harriman & Co. bought a new position in shares of Dayforce during the 2nd quarter valued at $66,000. American Century Companies Inc. acquired a new stake in shares of Dayforce in the 2nd quarter valued at $264,000. Finally, Acadian Asset Management LLC bought a new stake in Dayforce in the second quarter worth $287,000.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on DAY. Deutsche Bank Aktiengesellschaft raised their target price on Dayforce from $70.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Piper Sandler upgraded Dayforce from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $68.00 to $71.00 in a report on Wednesday, July 31st. KeyCorp started coverage on shares of Dayforce in a research report on Tuesday. They issued an “overweight” rating and a $70.00 price target on the stock. TD Cowen decreased their price objective on shares of Dayforce from $63.00 to $53.00 and set a “buy” rating for the company in a report on Friday, June 28th. Finally, Wells Fargo & Company dropped their target price on shares of Dayforce from $64.00 to $52.00 and set an “equal weight” rating on the stock in a report on Friday, June 21st. Three investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $69.36.

Dayforce Price Performance

Shares of Dayforce stock opened at $58.79 on Friday. The firm has a fifty day moving average price of $55.72 and a two-hundred day moving average price of $57.16. Dayforce Inc has a fifty-two week low of $47.08 and a fifty-two week high of $75.33. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.11 and a quick ratio of 1.11. The company has a market cap of $9.29 billion, a PE ratio of 178.16, a price-to-earnings-growth ratio of 2.12 and a beta of 1.29.

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