Sumitomo Mitsui DS Asset Management Company Ltd Makes New Investment in Dayforce Inc (NYSE:DAY)

Sumitomo Mitsui DS Asset Management Company Ltd acquired a new stake in shares of Dayforce Inc (NYSE:DAY) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 13,586 shares of the company’s stock, valued at approximately $832,000.

A number of other hedge funds have also recently made changes to their positions in the company. Select Equity Group L.P. bought a new position in Dayforce during the 2nd quarter worth approximately $721,310,000. EdgePoint Investment Group Inc. bought a new position in shares of Dayforce during the 2nd quarter worth $521,396,000. Dragoneer Investment Group LLC purchased a new position in shares of Dayforce in the second quarter worth about $193,274,000. Dimensional Fund Advisors LP bought a new stake in Dayforce during the 2nd quarter valued at $51,027,000. Finally, Cannae Holdings Inc. bought a new stake in shares of Dayforce during the 2nd quarter valued at $49,600,000.

Dayforce Stock Down 0.1 %

NYSE:DAY opened at $64.74 on Wednesday. Dayforce Inc has a 1-year low of $47.08 and a 1-year high of $74.66. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.11 and a quick ratio of 1.11. The firm has a market cap of $10.22 billion, a PE ratio of 196.18, a price-to-earnings-growth ratio of 2.23 and a beta of 1.29. The company has a 50-day moving average of $59.12 and a 200 day moving average of $56.52.

Dayforce (NYSE:DAY) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.18 by $0.05. Dayforce had a net margin of 2.89% and a return on equity of 6.35%. The business had revenue of $423.30 million during the quarter, compared to analyst estimates of $417.41 million. As a group, research analysts anticipate that Dayforce Inc will post 1.07 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

DAY has been the subject of several research analyst reports. Needham & Company LLC reissued a “buy” rating and set a $82.00 price objective on shares of Dayforce in a research note on Wednesday, July 31st. TD Cowen lifted their target price on shares of Dayforce from $58.00 to $62.00 and gave the stock a “hold” rating in a research report on Monday, October 7th. Jefferies Financial Group boosted their price objective on Dayforce from $55.00 to $65.00 and gave the company a “hold” rating in a research report on Tuesday. Citigroup raised their target price on Dayforce from $74.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. Finally, Mizuho upped their price objective on shares of Dayforce from $70.00 to $80.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Five equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $69.75.

Insider Activity

In other Dayforce news, COO Stephen H. Holdridge sold 1,000 shares of the company’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $63.37, for a total value of $63,370.00. Following the sale, the chief operating officer now directly owns 101,437 shares of the company’s stock, valued at approximately $6,428,062.69. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, COO Stephen H. Holdridge sold 1,000 shares of the firm’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $63.37, for a total transaction of $63,370.00. Following the sale, the chief operating officer now owns 101,437 shares in the company, valued at approximately $6,428,062.69. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jeffrey Scott Jacobs sold 643 shares of the stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $63.37, for a total value of $40,746.91. Following the transaction, the insider now owns 34,074 shares in the company, valued at $2,159,269.38. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,643 shares of company stock valued at $169,117. Company insiders own 4.90% of the company’s stock.

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.