PNC Financial Services Group Inc. Acquires 650 Shares of Dayforce Inc (NYSE:DAY)

PNC Financial Services Group Inc. boosted its stake in shares of Dayforce Inc (NYSE:DAY) by 6.1% during the 4th quarter, Holdings Channel reports. The institutional investor owned 11,282 shares of the company’s stock after buying an additional 650 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Dayforce were worth $820,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in DAY. Principal Financial Group Inc. bought a new position in shares of Dayforce during the third quarter worth about $11,135,000. KBC Group NV bought a new position in Dayforce during the 3rd quarter worth approximately $946,000. Sumitomo Mitsui Trust Group Inc. acquired a new position in shares of Dayforce in the 3rd quarter worth approximately $19,273,000. Smartleaf Asset Management LLC boosted its stake in shares of Dayforce by 69.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,227 shares of the company’s stock valued at $89,000 after purchasing an additional 501 shares during the last quarter. Finally, CIBC Asset Management Inc acquired a new stake in shares of Dayforce during the third quarter worth $1,434,000.

Analysts Set New Price Targets

Several equities analysts recently issued reports on DAY shares. Cowen upgraded shares of Dayforce from a “hold” rating to a “buy” rating in a report on Friday, March 7th. TD Cowen raised Dayforce from a “hold” rating to a “buy” rating and boosted their price objective for the company from $67.00 to $68.00 in a research note on Friday, March 7th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $80.00 target price (down previously from $85.00) on shares of Dayforce in a research note on Wednesday, January 8th. Citigroup lowered their target price on Dayforce from $90.00 to $83.00 and set a “buy” rating for the company in a report on Thursday, January 16th. Finally, Needham & Company LLC restated a “buy” rating and set a $95.00 price target on shares of Dayforce in a report on Thursday, February 6th. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $77.86.

Dayforce Trading Up 2.8 %

Shares of DAY opened at $56.92 on Tuesday. Dayforce Inc has a fifty-two week low of $47.08 and a fifty-two week high of $82.69. The business has a 50-day moving average of $65.36 and a 200 day moving average of $67.81. The firm has a market cap of $9.05 billion, a P/E ratio of 517.54, a price-to-earnings-growth ratio of 2.49 and a beta of 1.33. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.15 and a current ratio of 1.13.

Dayforce (NYSE:DAY) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.09). Dayforce had a return on equity of 6.49% and a net margin of 1.03%. As a group, research analysts forecast that Dayforce Inc will post 1.48 EPS for the current year.

Insider Transactions at Dayforce

In related news, COO Stephen H. Holdridge sold 1,000 shares of Dayforce stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $71.33, for a total transaction of $71,330.00. Following the completion of the sale, the chief operating officer now owns 119,022 shares of the company’s stock, valued at approximately $8,489,839.26. This trade represents a 0.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 4.90% of the company’s stock.

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.