Mirae Asset Global Investments Co. Ltd. Takes Position in Dayforce Inc (NYSE:DAY)

Mirae Asset Global Investments Co. Ltd. purchased a new stake in Dayforce Inc (NYSE:DAY) during the third quarter, according to its most recent filing with the SEC. The firm purchased 14,432 shares of the company’s stock, valued at approximately $869,000.

A number of other institutional investors have also recently made changes to their positions in the business. Louisiana State Employees Retirement System acquired a new stake in shares of Dayforce in the 3rd quarter worth $545,000. Assenagon Asset Management S.A. acquired a new stake in shares of Dayforce in the 3rd quarter worth $2,386,000. IFM Investors Pty Ltd boosted its position in shares of Dayforce by 3.6% in the 3rd quarter. IFM Investors Pty Ltd now owns 28,501 shares of the company’s stock worth $1,746,000 after purchasing an additional 997 shares in the last quarter. Hartford Investment Management Co. acquired a new stake in shares of Dayforce in the 3rd quarter worth $615,000. Finally, Signaturefd LLC acquired a new stake in shares of Dayforce in the 3rd quarter worth $96,000.

Dayforce Stock Performance

Shares of DAY stock opened at $75.23 on Friday. The stock has a market cap of $11.89 billion, a PE ratio of 227.98, a price-to-earnings-growth ratio of 2.52 and a beta of 1.29. The business has a 50-day simple moving average of $61.11 and a 200-day simple moving average of $56.91. The company has a quick ratio of 1.11, a current ratio of 1.15 and a debt-to-equity ratio of 0.47. Dayforce Inc has a 52-week low of $47.08 and a 52-week high of $75.41.

Dayforce (NYSE:DAY) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.05. Dayforce had a return on equity of 6.69% and a net margin of 3.12%. The business had revenue of $423.30 million during the quarter, compared to analysts’ expectations of $417.41 million. On average, equities analysts expect that Dayforce Inc will post 1.07 EPS for the current year.

Insider Activity at Dayforce

In related news, insider Jeffrey Scott Jacobs sold 643 shares of Dayforce stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $63.37, for a total value of $40,746.91. Following the completion of the transaction, the insider now owns 34,074 shares in the company, valued at $2,159,269.38. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Jeffrey Scott Jacobs sold 643 shares of Dayforce stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $63.37, for a total value of $40,746.91. Following the completion of the transaction, the insider now owns 34,074 shares in the company, valued at $2,159,269.38. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Stephen H. Holdridge sold 1,000 shares of Dayforce stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $65.00, for a total value of $65,000.00. Following the completion of the transaction, the chief operating officer now owns 100,437 shares of the company’s stock, valued at approximately $6,528,405. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,643 shares of company stock worth $307,617 in the last 90 days. Corporate insiders own 4.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on DAY. Needham & Company LLC reissued a “buy” rating and issued a $82.00 price objective on shares of Dayforce in a research report on Thursday. Citigroup raised their price objective on Dayforce from $75.00 to $81.00 and gave the stock a “buy” rating in a research report on Thursday. Barclays lifted their price target on Dayforce from $63.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Thursday. Jefferies Financial Group lifted their price target on Dayforce from $55.00 to $65.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Dayforce from $70.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Five research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $72.67.

Dayforce Company 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.