Meiji Yasuda Asset Management Co Ltd. Increases Position in Dayforce Inc (NYSE:DAY)

Meiji Yasuda Asset Management Co Ltd. grew its holdings in shares of Dayforce Inc (NYSE:DAY) by 202.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 30,710 shares of the company’s stock after acquiring an additional 20,550 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Dayforce were worth $2,231,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Quarry LP purchased a new position in Dayforce during the third quarter valued at $51,000. Harvest Fund Management Co. Ltd purchased a new stake in shares of Dayforce in the fourth quarter worth $61,000. AlphaQuest LLC increased its holdings in shares of Dayforce by 14,800.0% during the fourth quarter. AlphaQuest LLC now owns 1,043 shares of the company’s stock valued at $76,000 after acquiring an additional 1,036 shares in the last quarter. Smartleaf Asset Management LLC raised its position in shares of Dayforce by 69.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,227 shares of the company’s stock worth $89,000 after purchasing an additional 501 shares during the last quarter. Finally, National Bank of Canada FI bought a new position in Dayforce in the 3rd quarter worth about $179,000.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on DAY shares. Piper Sandler reaffirmed an “overweight” rating and issued a $83.00 target price (down from $94.00) on shares of Dayforce in a report on Wednesday, February 5th. Barclays cut their target price on Dayforce from $80.00 to $69.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 6th. Needham & Company LLC restated a “buy” rating and issued a $95.00 price target on shares of Dayforce in a research note on Thursday, February 6th. Scotiabank dropped their price objective on Dayforce from $72.00 to $55.00 and set a “sector perform” rating on the stock in a research report on Monday, March 17th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $80.00 price objective (down from $85.00) on shares of Dayforce in a report on Wednesday, January 8th. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, Dayforce currently has an average rating of “Moderate Buy” and an average price target of $77.86.

Insider Activity at Dayforce

In other Dayforce news, COO Stephen H. Holdridge sold 1,000 shares of Dayforce stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $71.33, for a total transaction of $71,330.00. Following the transaction, the chief operating officer now owns 119,022 shares of the company’s stock, valued at $8,489,839.26. The trade was a 0.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 4.90% of the stock is currently owned by corporate insiders.

Dayforce Price Performance

DAY opened at $60.16 on Wednesday. The firm’s 50 day simple moving average is $63.93 and its two-hundred day simple moving average is $67.94. The company has a market capitalization of $9.52 billion, a PE ratio of 546.96, a PEG ratio of 2.49 and a beta of 1.33. Dayforce Inc has a 1-year low of $47.08 and a 1-year high of $82.69. The company has a current ratio of 1.13, a quick ratio of 1.15 and a debt-to-equity ratio of 0.47.

Dayforce (NYSE:DAY) last released its earnings results on Wednesday, February 5th. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.09). Dayforce had a net margin of 1.03% and a return on equity of 6.49%. As a group, equities analysts forecast that Dayforce Inc will post 1.48 EPS 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.