Plato Investment Management Ltd Makes New Investment in Dayforce Inc (NYSE:DAY)

Plato Investment Management Ltd purchased a new position in shares of Dayforce Inc (NYSE:DAY) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 13,036 shares of the company’s stock, valued at approximately $647,000.

Other institutional investors have also made changes to their positions in the company. Fidelity National Financial Inc. bought a new stake in Dayforce during the second quarter worth approximately $39,680,000. Candriam S.C.A. bought a new stake in shares of Dayforce during the 2nd quarter worth $6,027,000. Royal London Asset Management Ltd. acquired a new position in Dayforce in the 2nd quarter valued at $2,942,000. State of New Jersey Common Pension Fund D acquired 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 worth $1,904,000.

Dayforce Trading Up 1.1 %

Shares of DAY stock opened at $59.41 on Monday. The firm has a fifty day moving average of $54.53 and a 200-day moving average of $57.51. The stock has a market cap of $9.38 billion, a price-to-earnings ratio of 180.03, a P/E/G ratio of 2.07 and a beta of 1.29. Dayforce Inc has a 52-week low of $47.08 and a 52-week high of $75.33. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.11 and a current ratio of 1.11.

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

Analyst Ratings Changes

Several equities research analysts have recently issued reports on DAY shares. Wells Fargo & Company lowered their price target on Dayforce from $64.00 to $52.00 and set an “equal weight” rating on the stock in a research report on Friday, June 21st. Needham & Company LLC reiterated a “buy” rating and set a $82.00 price target on shares of Dayforce in a report on Wednesday, July 31st. Citigroup cut their price target on Dayforce from $72.00 to $66.00 and set a “buy” rating for the company in a report on Tuesday, June 18th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Dayforce from $70.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, Piper Sandler upgraded shares of Dayforce from a “neutral” rating to an “overweight” rating and upped their target price for the company from $68.00 to $71.00 in a research note on Wednesday, July 31st. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $68.40.

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.