Brown Brothers Harriman & Co. Acquires New Position in Dayforce Inc (NYSE:DAY)

Brown Brothers Harriman & Co. bought a new position in shares of Dayforce Inc (NYSE:DAY) during the 2nd quarter, HoldingsChannel.com reports. The fund bought 1,321 shares of the company’s stock, valued at approximately $66,000.

A number of other hedge funds have also bought and sold shares of the stock. Fidelity National Financial Inc. purchased a new stake in shares of Dayforce during the second quarter valued at $39,680,000. Candriam S.C.A. purchased a new stake in Dayforce during the 2nd quarter valued at about $6,027,000. Royal London Asset Management Ltd. purchased a new position in shares of Dayforce in the second quarter worth about $2,942,000. State of New Jersey Common Pension Fund D purchased a new position in shares of Dayforce in the second quarter worth about $2,760,000. Finally, Envestnet Asset Management Inc. acquired a new stake in shares of Dayforce during the second quarter worth about $1,904,000.

Dayforce Trading Up 0.8 %

Shares of DAY stock opened at $59.64 on Friday. The stock has a 50 day simple moving average of $55.34 and a 200-day simple moving average of $57.40. Dayforce Inc has a 1-year low of $47.08 and a 1-year high of $75.33. The company has a market cap of $9.42 billion, a price-to-earnings ratio of 180.73, a PEG ratio of 2.07 and a beta of 1.29. 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 posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.05. Dayforce had a net margin of 2.89% and a return on equity of 6.35%. The company had revenue of $423.30 million during the quarter, compared to analysts’ expectations of $417.41 million. On average, equities research analysts expect that Dayforce Inc will post 1.08 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have issued reports on DAY. Needham & Company LLC reissued a “buy” rating and set a $82.00 price target on shares of Dayforce in a research report on Wednesday, July 31st. TD Cowen reduced their target price 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. Wells Fargo & Company lowered their price target on shares of Dayforce from $64.00 to $52.00 and set an “equal weight” rating on the stock in a report on Friday, June 21st. Deutsche Bank Aktiengesellschaft lifted their price objective on Dayforce from $70.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, Citigroup lowered their target price on Dayforce from $72.00 to $66.00 and set a “buy” rating on the stock in a research note on Tuesday, June 18th. Three investment 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 an average rating of “Moderate Buy” and an average price target of $68.40.

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.