Resona Asset Management Co. Ltd. Takes Position in Dayforce Inc (NYSE:DAY)

Resona Asset Management Co. Ltd. acquired a new stake in Dayforce Inc (NYSE:DAY - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 46,205 shares of the company's stock, valued at approximately $3,364,000.

A number of other institutional investors have also modified their holdings of DAY. Metis Global Partners LLC grew its holdings in Dayforce by 3.8% in the 4th quarter. Metis Global Partners LLC now owns 5,261 shares of the company's stock valued at $382,000 after buying an additional 193 shares during the period. Nomura Asset Management Co. Ltd. increased its position in Dayforce by 0.6% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 43,707 shares of the company's stock worth $3,175,000 after purchasing an additional 277 shares during the last quarter. Xponance Inc. boosted its holdings in shares of Dayforce by 1.6% in the 4th quarter. Xponance Inc. now owns 22,494 shares of the company's stock valued at $1,634,000 after purchasing an additional 357 shares during the last quarter. Smartleaf Asset Management LLC boosted its holdings in shares of Dayforce by 69.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,227 shares of the company's stock valued at $89,000 after purchasing an additional 501 shares during the last quarter. Finally, HighTower Advisors LLC grew its stake in shares of Dayforce by 11.0% during the 3rd quarter. HighTower Advisors LLC now owns 6,083 shares of the company's stock valued at $368,000 after buying an additional 602 shares during the period.

Dayforce Stock Performance

DAY traded down $0.19 during trading hours on Tuesday, hitting $55.97. 369,797 shares of the stock were exchanged, compared to its average volume of 1,738,803. Dayforce Inc has a 12 month low of $47.08 and a 12 month high of $82.69. The stock has a 50-day simple moving average of $59.15 and a 200-day simple moving average of $67.50. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.13 and a quick ratio of 1.15. The stock has a market cap of $8.86 billion, a price-to-earnings ratio of 508.69, a price-to-earnings-growth ratio of 2.49 and a beta of 1.20.

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Dayforce (NYSE:DAY - Get Free Report) last posted its earnings results on Wednesday, February 5th. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.46 by ($0.09). Dayforce had a net margin of 1.03% and a return on equity of 6.49%. Analysts anticipate that Dayforce Inc will post 1.48 earnings per share for the current year.

Insider Activity at Dayforce

In other news, COO Stephen H. Holdridge sold 1,000 shares of the firm's stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $71.33, for a total transaction of $71,330.00. Following the completion of the sale, the chief operating officer now directly owns 119,022 shares of the company's stock, valued at $8,489,839.26. This trade represents a 0.83 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 4.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Citigroup lowered their price target on Dayforce from $90.00 to $83.00 and set a "buy" rating for the company in a research report on Thursday, January 16th. Stifel Nicolaus cut their price target on shares of Dayforce from $90.00 to $85.00 and set a "buy" rating on the stock in a report on Thursday, February 6th. Needham & Company LLC reiterated a "buy" rating and set a $95.00 price objective on shares of Dayforce in a research note on Thursday, February 6th. Barclays cut their target price on shares of Dayforce from $80.00 to $69.00 and set an "equal weight" rating on the stock in a research note on Thursday, February 6th. Finally, Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $80.00 price target (down previously from $85.00) on shares of Dayforce in a report on Wednesday, January 8th. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $76.79.

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.