Sei Investments Co. Takes $1.79 Million Position in Dayforce Inc (NYSE:DAY)

Sei Investments Co. purchased a new stake in Dayforce Inc (NYSE:DAY) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 35,988 shares of the company’s stock, valued at approximately $1,785,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Financial Perspectives Inc acquired a new position in shares of Dayforce in the 2nd quarter valued at $28,000. Sentry Investment Management LLC acquired a new position in shares of Dayforce in the 2nd quarter valued at $33,000. Benjamin F. Edwards & Company Inc. acquired a new position in shares of Dayforce in the 2nd quarter valued at $62,000. Brown Brothers Harriman & Co. acquired a new position in shares of Dayforce in the 2nd quarter valued at $66,000. Finally, Canada Pension Plan Investment Board acquired a new position in shares of Dayforce in the 2nd quarter valued at $97,000.

Dayforce Trading Up 0.4 %

Shares of NYSE:DAY opened at $61.86 on Friday. 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 company’s 50-day moving average price is $56.87 and its two-hundred day moving average price is $56.84. The stock has a market capitalization of $9.77 billion, a PE ratio of 187.45, a price-to-earnings-growth ratio of 2.12 and a beta of 1.29. Dayforce Inc has a one year low of $47.08 and a one year 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 company 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%. On average, equities analysts forecast that Dayforce Inc will post 1.08 EPS for the current fiscal year.

Analysts Set New Price Targets

DAY has been the subject of several research analyst reports. TD Cowen decreased their price target on shares of Dayforce from $63.00 to $53.00 and set a “buy” rating for the company in a report on Friday, June 28th. KeyCorp started coverage on shares of Dayforce in a research report on Tuesday, September 24th. They issued an “overweight” rating and a $70.00 price objective on the stock. BMO Capital Markets reaffirmed an “outperform” rating and issued a $75.00 price objective on shares of Dayforce in a research report on Tuesday, June 11th. Citigroup boosted their price objective on shares of Dayforce from $74.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective 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. Three analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $69.36.

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.