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

Principal Financial Group Inc. purchased a new position in shares of Dayforce Inc (NYSE:DAY - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 181,802 shares of the company's stock, valued at approximately $11,135,000. Principal Financial Group Inc. owned about 0.12% of Dayforce as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of DAY. Select Equity Group L.P. purchased a new position in Dayforce in the second quarter valued at $721,310,000. KBC Group NV acquired a new position in shares of Dayforce during the third quarter valued at approximately $946,000. Adero Partners LLC purchased a new position in shares of Dayforce in the third quarter valued at approximately $4,987,000. Sumitomo Mitsui Trust Group Inc. acquired a new stake in shares of Dayforce in the third quarter worth approximately $19,273,000. Finally, Elo Mutual Pension Insurance Co purchased a new stake in shares of Dayforce during the second quarter worth approximately $673,000.

Dayforce Stock Down 1.7 %

DAY stock traded down $1.23 during mid-day trading on Monday, hitting $72.49. The stock had a trading volume of 623,312 shares, compared to its average volume of 1,590,839. Dayforce Inc has a 1-year low of $47.08 and a 1-year high of $82.69. The company has a fifty day moving average of $75.64 and a 200 day moving average of $62.70. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $11.43 billion, a price-to-earnings ratio of 219.67, a PEG ratio of 3.68 and a beta of 1.26.

Insider Buying and Selling

In related news, CEO David D. Ossip sold 858,697 shares of the company's stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $79.55, for a total value of $68,309,346.35. Following the sale, the chief executive officer now owns 794,527 shares of the company's stock, valued at $63,204,622.85. The trade was a 51.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Stephen H. Holdridge sold 1,000 shares of the stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $63.37, for a total transaction of $63,370.00. Following the sale, the chief operating officer now owns 101,437 shares of the company's stock, valued at $6,428,062.69. This trade represents a 0.98 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 865,340 shares of company stock worth $68,770,223. 4.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. KeyCorp increased their price target on Dayforce from $80.00 to $92.00 and gave the company an "overweight" rating in a report on Wednesday, November 13th. Needham & Company LLC lifted their target price on Dayforce from $82.00 to $95.00 and gave the company a "buy" rating in a research report on Wednesday, November 13th. TD Cowen upped their price target on Dayforce from $58.00 to $62.00 and gave the stock a "hold" rating in a research note on Monday, October 7th. Jefferies Financial Group raised their price target on Dayforce from $55.00 to $65.00 and gave the stock a "hold" rating in a research report on Tuesday, October 22nd. Finally, Barclays increased their target price on Dayforce from $80.00 to $84.00 and gave the stock an "equal weight" rating in a research report on Friday, December 6th. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $79.86.

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.