Dayforce, Inc. (NYSE:DAY) Stake Raised by Principal Financial Group Inc.

Principal Financial Group Inc. boosted its holdings in Dayforce, Inc. (NYSE:DAY) by 53.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 273,055 shares of the company’s stock after acquiring an additional 94,635 shares during the quarter. Principal Financial Group Inc. owned about 0.17% of Dayforce worth $15,927,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of DAY. Teacher Retirement System of Texas bought a new stake in shares of Dayforce during the 1st quarter worth $1,282,000. Mather Group LLC. boosted its stake in shares of Dayforce by 196.9% during the 1st quarter. Mather Group LLC. now owns 962 shares of the company’s stock worth $56,000 after acquiring an additional 638 shares in the last quarter. Amalgamated Bank boosted its stake in shares of Dayforce by 2.2% during the 1st quarter. Amalgamated Bank now owns 30,966 shares of the company’s stock worth $1,806,000 after acquiring an additional 661 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Dayforce by 13.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,585 shares of the company’s stock worth $1,259,000 after acquiring an additional 2,557 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its stake in shares of Dayforce by 6.2% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 24,524 shares of the company’s stock worth $1,430,000 after acquiring an additional 1,427 shares in the last quarter.

Dayforce Price Performance

NYSE DAY opened at $55.25 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $8.83 billion, a PE ratio of 345.33, a price-to-earnings-growth ratio of 2.28 and a beta of 1.08. The company has a 50 day moving average price of $57.83 and a two-hundred day moving average price of $60.99. Dayforce, Inc. has a 12-month low of $48.01 and a 12-month high of $82.69.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on DAY shares. KeyCorp cut their price target on shares of Dayforce from $80.00 to $65.00 and set an “overweight” rating on the stock in a report on Tuesday, April 22nd. Wells Fargo & Company lowered shares of Dayforce from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $60.00 to $50.00 in a report on Friday, June 13th. Mizuho cut their price target on shares of Dayforce from $95.00 to $80.00 and set an “outperform” rating on the stock in a report on Tuesday, April 15th. BMO Capital Markets restated an “outperform” rating on shares of Dayforce in a report on Tuesday, June 10th. Finally, Needham & Company LLC restated a “buy” rating and set a $95.00 price objective on shares of Dayforce in a research report on Monday, June 30th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, Dayforce has a consensus rating of “Moderate Buy” and a consensus target price of $70.86.

Insider Buying and Selling

In other news, EVP William Everett Mcdonald sold 2,000 shares of the stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $56.16, for a total transaction of $112,320.00. Following the transaction, the executive vice president owned 105,691 shares of the company’s stock, valued at approximately $5,935,606.56. This represents a 1.86% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Samer Alkharrat sold 664 shares of the stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $57.95, for a total value of $38,478.80. Following the transaction, the executive vice president directly owned 132,266 shares in the company, valued at approximately $7,664,814.70. This represents a 0.50% decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,580 shares of company stock valued at $259,321 over the last quarter. Corporate insiders own 4.50% of the company’s stock.

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.