Plato Investment Management Ltd Invests $647,000 in Dayforce Inc (NYSE:DAY)

Plato Investment Management Ltd purchased a new stake in shares of Dayforce Inc (NYSE:DAY) in the 2nd quarter, Holdings Channel reports. The fund purchased 13,036 shares of the company’s stock, valued at approximately $647,000.

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

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Needham & Company LLC restated a “buy” rating and issued a $82.00 target price on shares of Dayforce in a research note on Wednesday, July 31st. TD Cowen lowered their price objective on shares of Dayforce from $63.00 to $53.00 and set a “buy” rating for the company in a research report on Friday, June 28th. Wells Fargo & Company reduced their target price on shares of 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 raised their price target on shares of Dayforce from $70.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, Citigroup reduced their price objective on Dayforce from $72.00 to $66.00 and set a “buy” rating on the stock in a report on Tuesday, June 18th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $68.40.

Dayforce Stock Performance

DAY stock opened at $59.41 on Monday. Dayforce Inc has a twelve month low of $47.08 and a twelve month high of $75.33. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.49. The company has a market cap of $9.38 billion, a P/E ratio of 180.03, a price-to-earnings-growth ratio of 2.07 and a beta of 1.29. The business’s fifty day moving average is $54.53 and its 200-day moving average is $57.51.

Dayforce (NYSE:DAY) last released its earnings results on Wednesday, July 31st. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.05. Dayforce had a return on equity of 6.35% and a net margin of 2.89%. The firm had revenue of $423.30 million for the quarter, compared to analyst estimates of $417.41 million. Equities research analysts forecast that Dayforce Inc will post 1.08 EPS for the current year.

Dayforce Company 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.