5,030 Shares in Dayforce Inc (NYSE:DAY) Acquired by AREX Capital Management LP

AREX Capital Management LP purchased a new position in Dayforce Inc (NYSE:DAY) during the 2nd quarter, Holdings Channel.com reports. The firm purchased 5,030 shares of the company’s stock, valued at approximately $249,000. Dayforce makes up about 0.3% of AREX Capital Management LP’s holdings, making the stock its 13th biggest position.

Several other hedge funds and other institutional investors also recently made changes to their positions in DAY. Dimensional Fund Advisors LP bought a new position in Dayforce in the 2nd quarter valued at approximately $51,027,000. Cannae Holdings Inc. bought a new position in Dayforce in the 2nd quarter valued at approximately $49,600,000. Fidelity National Financial Inc. bought a new position in Dayforce in the 2nd quarter valued at approximately $39,680,000. Hsbc Holdings PLC bought a new position in Dayforce in the 2nd quarter valued at approximately $9,801,000. Finally, Candriam S.C.A. bought a new position in Dayforce in the 2nd quarter valued at approximately $6,027,000.

Dayforce Trading Down 1.2 %

NYSE:DAY opened at $58.91 on Monday. 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 firm has a market capitalization of $9.30 billion, a price-to-earnings ratio of 178.52, a price-to-earnings-growth ratio of 2.07 and a beta of 1.29. Dayforce Inc has a one year low of $47.08 and a one year high of $75.33. The business has a fifty day moving average price of $55.46 and a 200-day moving average price of $57.25.

Dayforce (NYSE:DAY) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.18 by $0.05. The firm had revenue of $423.30 million during the quarter, compared to analyst estimates of $417.41 million. Dayforce had a return on equity of 6.35% and a net margin of 2.89%. Sell-side analysts forecast that Dayforce Inc will post 1.08 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on DAY shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $82.00 price objective on shares of Dayforce in a research report on Wednesday, July 31st. Piper Sandler raised Dayforce from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $68.00 to $71.00 in a research report on Wednesday, July 31st. Wells Fargo & Company lowered their price objective on Dayforce from $64.00 to $52.00 and set an “equal weight” rating on the stock in a research report on Friday, June 21st. TD Cowen lowered their price target on Dayforce from $63.00 to $53.00 and set a “buy” rating on the stock in a report on Friday, June 28th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Dayforce from $70.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Dayforce currently has an average rating of “Moderate Buy” and a consensus price target 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.