APG Asset Management N.V. Invests $9.52 Million in Dayforce Inc (NYSE:DAY)

APG Asset Management N.V. bought a new stake in Dayforce Inc (NYSE:DAY) during the second quarter, Holdings Channel reports. The fund bought 205,783 shares of the company’s stock, valued at approximately $9,524,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Financial Perspectives Inc acquired a new position in shares of Dayforce in the 2nd quarter valued at about $28,000. Sentry Investment Management LLC purchased a new position in Dayforce in the second quarter valued at approximately $33,000. Benjamin F. Edwards & Company Inc. purchased a new position in Dayforce in the second quarter valued at approximately $62,000. Brown Brothers Harriman & Co. acquired a new position in Dayforce during the second quarter valued at approximately $66,000. Finally, Canada Pension Plan Investment Board purchased a new stake in Dayforce during the second quarter worth approximately $97,000.

Dayforce Stock Up 2.4 %

DAY stock opened at $60.20 on Friday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49. The firm has a 50 day simple moving average of $55.97 and a 200-day simple moving average of $57.12. The company has a market capitalization of $9.51 billion, a P/E ratio of 182.42, a PEG ratio of 2.12 and a beta of 1.29. Dayforce Inc has a twelve month low of $47.08 and a twelve month high of $75.33.

Dayforce (NYSE:DAY) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.05. The company had revenue of $423.30 million during the quarter, compared to analyst estimates of $417.41 million. Dayforce had a net margin of 2.89% and a return on equity of 6.35%. On average, equities research analysts predict that Dayforce Inc will post 1.08 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently commented on DAY shares. Piper Sandler raised shares of Dayforce from a “neutral” rating to an “overweight” rating and raised their target price for the company from $68.00 to $71.00 in a research note on Wednesday, July 31st. Wells Fargo & Company cut their price objective on Dayforce from $64.00 to $52.00 and set an “equal weight” rating on the stock in a research report on Friday, June 21st. Deutsche Bank Aktiengesellschaft upped their target price on Dayforce from $70.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. BMO Capital Markets reiterated an “outperform” rating and set a $75.00 target price on shares of Dayforce in a report on Tuesday, June 11th. Finally, Needham & Company LLC restated a “buy” rating and issued a $82.00 price target on shares of Dayforce in a report on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $69.36.

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.