Principal Financial Group Inc. Invests $11.14 Million in Dayforce Inc (NYSE:DAY)

Principal Financial Group Inc. acquired a new stake in shares of Dayforce Inc (NYSE:DAY - Free Report) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 181,802 shares of the company's stock, valued at approximately $11,135,000. Principal Financial Group Inc. owned about 0.11% of Dayforce as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Financial Perspectives Inc bought a new stake in shares of Dayforce during the second quarter worth $28,000. Quent Capital LLC bought a new position in Dayforce in the 3rd quarter worth about $28,000. Sentry Investment Management LLC purchased a new position in shares of Dayforce during the second quarter worth approximately $33,000. Farther Finance Advisors LLC bought a new stake in shares of Dayforce during the third quarter valued at approximately $40,000. Finally, Benjamin F. Edwards & Company Inc. bought a new position in Dayforce in the second quarter worth approximately $62,000.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. TD Cowen upped their target price on Dayforce from $58.00 to $62.00 and gave the stock a "hold" rating in a report on Monday, October 7th. Mizuho raised their target price on shares of Dayforce from $85.00 to $95.00 and gave the company an "outperform" rating in a research report on Wednesday, November 13th. Barclays upped their price target on shares of Dayforce from $70.00 to $80.00 and gave the stock an "equal weight" rating in a research report on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft lifted their price objective 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, Piper Sandler reaffirmed an "overweight" rating and set a $94.00 target price (up previously from $82.00) on shares of Dayforce in a research report on Wednesday, November 13th. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $79.08.

Insider Activity

In other Dayforce news, COO Stephen H. Holdridge sold 2,000 shares of Dayforce stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $69.25, for a total transaction of $138,500.00. Following the completion of the sale, the chief operating officer now directly owns 98,437 shares in the company, valued at approximately $6,816,762.25. The trade was a 1.99 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Jeffrey Scott Jacobs sold 643 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 transaction of $40,746.91. Following the completion of the sale, the insider now directly owns 34,074 shares in the company, valued at $2,159,269.38. This trade represents a 1.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,643 shares of company stock valued at $384,617 over the last ninety days. 4.90% of the stock is currently owned by insiders.

Dayforce Stock Performance

DAY stock traded up $0.09 during trading on Monday, reaching $74.65. The company had a trading volume of 1,126,381 shares, compared to its average volume of 1,608,144. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.15 and a current ratio of 1.15. Dayforce Inc has a twelve month low of $47.08 and a twelve month high of $81.32. The company has a market cap of $11.77 billion, a price-to-earnings ratio of 225.95, a price-to-earnings-growth ratio of 3.50 and a beta of 1.27. The firm has a 50-day simple moving average of $65.44 and a 200-day simple moving average of $58.15.

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.