Skandinaviska Enskilda Banken AB publ Makes New Investment in Dayforce Inc (NYSE:DAY)

Skandinaviska Enskilda Banken AB publ bought a new position in Dayforce Inc (NYSE:DAY) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 27,788 shares of the company’s stock, valued at approximately $1,378,000.

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

Wall Street Analyst Weigh In

A number of research analysts have weighed in on DAY shares. 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 research report on Thursday, August 1st. Piper Sandler raised shares of Dayforce from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $68.00 to $71.00 in a research report on Wednesday, July 31st. TD Cowen reduced their price target on shares of Dayforce from $63.00 to $53.00 and set a “buy” rating on the stock in a research report on Friday, June 28th. Needham & Company LLC reaffirmed a “buy” rating and set a $82.00 price target on shares of Dayforce in a research report on Wednesday, July 31st. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $75.00 price objective on shares of Dayforce in a research note on Tuesday, June 11th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Dayforce presently has an average rating of “Moderate Buy” and a consensus target price of $68.40.

Dayforce Stock Up 0.5 %

DAY stock opened at $59.20 on Tuesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.11 and a quick ratio of 1.11. Dayforce Inc has a 1-year low of $47.08 and a 1-year high of $75.33. The firm has a fifty day moving average price of $55.56 and a two-hundred day moving average price of $57.20. The firm has a market cap of $9.35 billion, a price-to-earnings ratio of 179.39, a PEG ratio of 2.07 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, beating the consensus estimate of $0.18 by $0.05. Dayforce had a net margin of 2.89% and a return on equity of 6.35%. The firm had revenue of $423.30 million during the quarter, compared to analyst estimates of $417.41 million. Research analysts predict 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.