Elo Mutual Pension Insurance Co Purchases New Position in Dayforce Inc (NYSE:DAY)

Elo Mutual Pension Insurance Co acquired a new position in shares of Dayforce Inc (NYSE:DAY) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 13,560 shares of the company’s stock, valued at approximately $673,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Financial Perspectives Inc purchased a new stake in shares of Dayforce in the second quarter valued at about $28,000. Sentry Investment Management LLC purchased a new stake in Dayforce in the 2nd quarter valued at about $33,000. Brown Brothers Harriman & Co. bought a new position in shares of Dayforce during the 2nd quarter worth approximately $66,000. American Century Companies Inc. purchased a new position in shares of Dayforce in the 2nd quarter worth approximately $264,000. Finally, Acadian Asset Management LLC bought a new position in shares of Dayforce in the second quarter valued at approximately $287,000.

Dayforce Stock Performance

NYSE DAY opened at $58.91 on Friday. The firm has a market cap of $9.30 billion, a P/E ratio of 178.52, a price-to-earnings-growth ratio of 2.07 and a beta of 1.29. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.49. The company’s 50 day moving average is $55.46 and its 200-day moving average is $57.30. Dayforce Inc has a 12-month low of $47.08 and a 12-month high of $75.33.

Dayforce (NYSE:DAY) last issued 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. The business had revenue of $423.30 million for 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%. Sell-side analysts predict that Dayforce Inc will post 1.08 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts recently commented on DAY shares. Deutsche Bank Aktiengesellschaft lifted their price target on Dayforce from $70.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. TD Cowen cut their price target on shares of Dayforce from $63.00 to $53.00 and set a “buy” rating on the stock in a report on Friday, June 28th. Needham & Company LLC restated a “buy” rating and set a $82.00 price objective on shares of Dayforce in a report on Wednesday, July 31st. BMO Capital Markets reiterated an “outperform” rating and issued a $75.00 target price on shares of Dayforce in a research note on Tuesday, June 11th. Finally, Citigroup decreased their price target 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. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Dayforce presently has an average rating of “Moderate Buy” and a consensus 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.