State of New Jersey Common Pension Fund D Acquires Shares of 55,654 Dayforce Inc (NYSE:DAY)

State of New Jersey Common Pension Fund D bought a new position in Dayforce Inc (NYSE:DAY) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 55,654 shares of the company’s stock, valued at approximately $2,760,000.

A number of other large investors have also modified their holdings of the stock. Sentry Investment Management LLC purchased a new stake in shares of Dayforce during the second quarter worth about $33,000. Acadian Asset Management LLC purchased a new stake in Dayforce during the 2nd quarter worth approximately $287,000. New Mexico Educational Retirement Board purchased a new stake in Dayforce during the 2nd quarter worth approximately $392,000. Prudential PLC acquired a new position in shares of Dayforce in the 2nd quarter valued at approximately $490,000. Finally, Daiwa Securities Group Inc. acquired a new stake in shares of Dayforce during the second quarter worth approximately $1,251,000.

Analysts Set New Price Targets

Several brokerages have weighed in on DAY. Piper Sandler raised shares of Dayforce from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $68.00 to $71.00 in a report on Wednesday, July 31st. Citigroup cut their price objective on Dayforce from $72.00 to $66.00 and set a “buy” rating on the stock in a research note on Tuesday, June 18th. Wells Fargo & Company reduced their target price on Dayforce from $64.00 to $52.00 and set an “equal weight” rating on the stock in a report on Friday, June 21st. TD Cowen lowered their price target on Dayforce from $63.00 to $53.00 and set a “buy” rating for the company in a report on Friday, June 28th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Dayforce from $70.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $68.40.

Dayforce Stock Up 0.3 %

Dayforce stock opened at $59.18 on Thursday. The firm has a market cap of $9.34 billion, a price-to-earnings ratio of 179.33, a P/E/G ratio of 2.07 and a beta of 1.29. The firm has a fifty day moving average price of $55.17 and a two-hundred day moving average price of $57.38. Dayforce Inc has a fifty-two week low of $47.08 and a fifty-two week high of $75.33. 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 (NYSE:DAY) last announced 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. The firm had revenue of $423.30 million during the quarter, compared to the consensus estimate of $417.41 million. Dayforce had a return on equity of 6.35% and a net margin of 2.89%. As a group, analysts forecast that Dayforce Inc will post 1.08 earnings per share 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.