Mirae Asset Global Investments Co. Ltd. Buys New Position in Dayforce Inc (NYSE:DAY)

Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Dayforce Inc (NYSE:DAY - Free Report) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 14,432 shares of the company's stock, valued at approximately $869,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Select Equity Group L.P. acquired a new position in shares of Dayforce during the second quarter valued at about $721,310,000. Elo Mutual Pension Insurance Co acquired a new position in Dayforce during the 2nd quarter valued at about $673,000. State of New Jersey Common Pension Fund D bought a new stake in Dayforce during the 2nd quarter worth approximately $2,760,000. Vanguard Personalized Indexing Management LLC purchased a new stake in shares of Dayforce in the second quarter worth approximately $663,000. Finally, Royal London Asset Management Ltd. bought a new position in shares of Dayforce in the second quarter valued at approximately $2,942,000.

Dayforce Stock Performance

NYSE:DAY traded up $4.28 during trading hours on Friday, reaching $75.23. The stock had a trading volume of 2,843,422 shares, compared to its average volume of 1,592,277. The stock has a market cap of $11.86 billion, a P/E ratio of 227.97, a price-to-earnings-growth ratio of 2.52 and a beta of 1.27. The stock has a 50 day simple moving average of $61.11 and a 200 day simple moving average of $56.90. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.11 and a current ratio of 1.15. Dayforce Inc has a 12-month low of $47.08 and a 12-month high of $75.41.

Dayforce (NYSE:DAY - Get Free Report) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.18 by $0.05. The business had revenue of $423.30 million for the quarter, compared to analysts' expectations of $417.41 million. Dayforce had a return on equity of 6.69% and a net margin of 3.12%. On average, research analysts forecast that Dayforce Inc will post 1.07 EPS for the current fiscal year.

Insider Transactions at Dayforce

In other Dayforce news, COO Stephen H. Holdridge sold 2,000 shares of the business's stock in a transaction 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 sale, the chief operating officer now owns 98,437 shares of the company's stock, valued at $6,816,762.25. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Dayforce news, COO Stephen H. Holdridge sold 2,000 shares of the firm's stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $69.25, for a total value of $138,500.00. Following the completion of the transaction, the chief operating officer now owns 98,437 shares in the company, valued at $6,816,762.25. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jeffrey Scott Jacobs sold 643 shares of Dayforce stock in a transaction dated 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 directly owns 34,074 shares of the company's stock, valued at $2,159,269.38. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,643 shares of company stock worth $307,617 over the last quarter. Corporate insiders own 4.90% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on DAY. Mizuho upped their price target on Dayforce from $80.00 to $85.00 and gave the stock an "outperform" rating in a report on Thursday. TD Cowen upped their target price on shares of Dayforce from $58.00 to $62.00 and gave the stock a "hold" rating in a research note on Monday, October 7th. 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 research report on Thursday, August 1st. Needham & Company LLC reaffirmed a "buy" rating and issued a $82.00 price objective on shares of Dayforce in a research report on Thursday. Finally, BMO Capital Markets increased their price objective on shares of Dayforce from $70.00 to $80.00 and gave the company an "outperform" rating in a research note on Friday. Five equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $72.67.

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.