Public Employees Retirement Association of Colorado Invests $798,000 in Dayforce Inc (NYSE:DAY)

Public Employees Retirement Association of Colorado acquired a new position in Dayforce Inc (NYSE:DAY) in the 2nd quarter, HoldingsChannel.com reports. The firm acquired 16,097 shares of the company’s stock, valued at approximately $798,000.

Several other institutional investors have also recently modified their holdings of the company. Dimensional Fund Advisors LP purchased a new position in Dayforce during the second quarter valued at approximately $51,027,000. Cannae Holdings Inc. purchased a new position in Dayforce during the second quarter valued at approximately $49,600,000. Fidelity National Financial Inc. purchased a new position in Dayforce during the second quarter valued at approximately $39,680,000. Hsbc Holdings PLC purchased a new position in Dayforce during the second quarter valued at approximately $9,801,000. Finally, Candriam S.C.A. purchased a new position in Dayforce during the second quarter valued at approximately $6,027,000.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on DAY. Wells Fargo & Company reduced their price target on Dayforce from $64.00 to $52.00 and set an “equal weight” rating for the company in a research report on Friday, June 21st. Needham & Company LLC reiterated a “buy” rating and set a $82.00 price target on shares of Dayforce in a research report on Wednesday, July 31st. TD Cowen cut their price objective on Dayforce from $63.00 to $53.00 and set a “buy” rating for the company in a research report on Friday, June 28th. Piper Sandler upgraded Dayforce from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $68.00 to $71.00 in a research report on Wednesday, July 31st. Finally, KeyCorp assumed coverage on Dayforce in a research report on Tuesday. They issued an “overweight” rating and a $70.00 price objective for the company. Three investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $69.36.

Dayforce Stock Performance

Shares of NYSE:DAY opened at $58.49 on Thursday. 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 business’s 50 day moving average price is $55.72 and its 200-day moving average price is $57.16. The firm has a market capitalization of $9.25 billion, a PE ratio of 177.25, a P/E/G ratio of 2.12 and a beta of 1.29. Dayforce Inc has a 1 year low of $47.08 and a 1 year high of $75.33.

Dayforce (NYSE:DAY) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.05. The firm had revenue of $423.30 million for 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%. As a group, equities research analysts expect that Dayforce Inc will post 1.08 earnings per share for the current fiscal year.

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.