Meiji Yasuda Asset Management Co Ltd. Acquires 20,550 Shares of 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 fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 30,710 shares of the company’s stock after acquiring an additional 20,550 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Dayforce were worth $2,231,000 at the end of the most recent quarter.

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

Dayforce Price Performance

DAY opened at $60.16 on Wednesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.15 and a current ratio of 1.13. The stock has a market capitalization of $9.52 billion, a PE ratio of 546.96, a price-to-earnings-growth ratio of 2.49 and a beta of 1.33. The stock’s 50 day moving average price is $63.93 and its 200-day moving average price is $67.94. Dayforce Inc has a 52-week low of $47.08 and a 52-week high of $82.69.

Dayforce (NYSE:DAY) last issued 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 return on equity of 6.49% and a net margin of 1.03%. On average, equities research analysts predict that Dayforce Inc will post 1.48 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on DAY. Barclays reduced their price objective on Dayforce from $80.00 to $69.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 6th. Jefferies Financial Group reduced their price target on shares of Dayforce from $80.00 to $75.00 and set a “hold” rating on the stock in a research report on Thursday, February 6th. Citigroup decreased their price target on shares of Dayforce from $90.00 to $83.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. Piper Sandler reaffirmed an “overweight” rating and issued a $83.00 price objective (down previously from $94.00) on shares of Dayforce in a research note on Wednesday, February 5th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $80.00 target price (down previously from $85.00) on shares of Dayforce in a research report on Wednesday, January 8th. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $77.86.

Insiders Place Their Bets

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

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.