Resona Asset Management Co. Ltd. Acquires New Position in Dayforce Inc (NYSE:DAY)

Resona Asset Management Co. Ltd. purchased a new position in shares of Dayforce Inc (NYSE:DAY) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 46,205 shares of the company’s stock, valued at approximately $3,364,000.

Other institutional investors have also modified their holdings of the company. Quarry LP acquired a new position in Dayforce in the 3rd quarter valued at $51,000. Harvest Fund Management Co. Ltd purchased a new stake in Dayforce during the 4th quarter worth $61,000. AlphaQuest LLC boosted its position in Dayforce by 14,800.0% during the 4th quarter. AlphaQuest LLC now owns 1,043 shares of the company’s stock worth $76,000 after purchasing an additional 1,036 shares during the period. Smartleaf Asset Management LLC boosted its position in Dayforce by 69.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,227 shares of the company’s stock valued at $89,000 after buying an additional 501 shares during the last quarter. Finally, National Bank of Canada FI purchased a new position in Dayforce in the 3rd quarter valued at about $179,000.

Dayforce Stock Performance

NYSE DAY opened at $56.11 on Thursday. Dayforce Inc has a 12-month low of $47.08 and a 12-month 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. The company has a market cap of $8.88 billion, a P/E ratio of 510.14, a PEG ratio of 2.49 and a beta of 1.20. The company has a fifty day simple moving average of $60.02 and a 200 day simple moving average of $67.53.

Dayforce (NYSE:DAY) last released its quarterly earnings data on Wednesday, February 5th. The company reported $0.37 EPS 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%. Sell-side analysts predict that Dayforce Inc will post 1.48 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently commented on DAY. Scotiabank reduced their price target on shares of Dayforce from $72.00 to $55.00 and set a “sector perform” rating on the stock in a research report on Monday, March 17th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $80.00 price target (down previously from $85.00) on shares of Dayforce in a research note on Wednesday, January 8th. TD Cowen upgraded shares of Dayforce from a “hold” rating to a “buy” rating and raised their price target for the company from $67.00 to $68.00 in a research note on Friday, March 7th. Needham & Company LLC reiterated a “buy” rating and set a $95.00 price objective on shares of Dayforce in a research note on Thursday, February 6th. Finally, Barclays reduced their target price on shares of Dayforce from $80.00 to $69.00 and set an “equal weight” rating for the company in a report on Thursday, February 6th. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, Dayforce presently has an average rating of “Moderate Buy” and a consensus target price of $77.86.

Insider Buying and Selling at Dayforce

In related news, COO Stephen H. Holdridge sold 1,000 shares of Dayforce stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $71.33, for a total value of $71,330.00. Following the sale, the chief operating officer now owns 119,022 shares in the company, valued at $8,489,839.26. The trade was a 0.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 4.50% of the company’s stock.

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.