New Mexico Educational Retirement Board Invests $392,000 in Dayforce Inc (NYSE:DAY)

New Mexico Educational Retirement Board bought a new stake in Dayforce Inc (NYSE:DAY) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 7,900 shares of the company’s stock, valued at approximately $392,000.

Separately, Candriam S.C.A. acquired a new position in shares of Dayforce during the 2nd quarter worth about $6,027,000.

Dayforce Stock Performance

NYSE DAY opened at $54.47 on Friday. The stock has a market cap of $8.60 billion, a PE ratio of 165.06, a P/E/G ratio of 2.04 and a beta of 1.29. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.11 and a current ratio of 1.11. The firm has a 50-day moving average of $53.81 and a 200-day moving average of $58.06. Dayforce Inc has a 52-week low of $47.08 and a 52-week high of $75.53.

Dayforce (NYSE:DAY) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.05. Dayforce had a net margin of 2.89% and a return on equity of 6.35%. The firm had revenue of $423.30 million during the quarter, compared to the consensus estimate of $417.41 million. On average, sell-side analysts anticipate that Dayforce Inc will post 1.08 EPS for the current year.

Analysts Set New Price Targets

DAY has been the topic of several analyst reports. BMO Capital Markets reiterated an “outperform” rating and set a $75.00 target price on shares of Dayforce in a report on Tuesday, June 11th. Wells Fargo & Company cut their price objective on Dayforce from $64.00 to $52.00 and set an “equal weight” rating for the company in a report on Friday, June 21st. Citigroup lowered their target price on shares of Dayforce from $72.00 to $66.00 and set a “buy” rating on the stock in a report on Tuesday, June 18th. Piper Sandler upgraded shares of Dayforce from a “neutral” rating to an “overweight” rating and increased their price target for the company from $68.00 to $71.00 in a research note on Wednesday, July 31st. Finally, TD Cowen decreased their price objective on shares of Dayforce from $63.00 to $53.00 and set a “buy” rating for the company in a research report on Friday, June 28th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $68.40.

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.