Seven Eight Capital LP Acquires Shares of 104,916 Dayforce Inc (NYSE:DAY)

Seven Eight Capital LP acquired a new stake in Dayforce Inc (NYSE:DAY) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 104,916 shares of the company’s stock, valued at approximately $5,204,000. Dayforce accounts for approximately 0.5% of Seven Eight Capital LP’s portfolio, making the stock its 22nd biggest holding.

A number of other hedge funds have also recently modified their holdings of DAY. Hsbc Holdings PLC purchased a new position in shares of Dayforce during the second quarter valued at about $9,801,000. Elo Mutual Pension Insurance Co bought a new position in Dayforce in the 2nd quarter valued at approximately $673,000. Blair William & Co. IL bought a new position in Dayforce during the 2nd quarter valued at about $5,886,000. Vanguard Personalized Indexing Management LLC bought a new stake in shares of Dayforce in the second quarter worth approximately $663,000. Finally, Amalgamated Bank purchased a new position in shares of Dayforce during the second quarter valued at approximately $1,572,000.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $82.00 target price on shares of Dayforce in a research report on Wednesday, July 31st. Piper Sandler upgraded shares of Dayforce from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $68.00 to $71.00 in a research note on Wednesday, July 31st. Wells Fargo & Company reduced their target price on shares of Dayforce from $64.00 to $52.00 and set an “equal weight” rating for the company in a report on Friday, June 21st. Citigroup decreased their target price on Dayforce from $72.00 to $66.00 and set a “buy” rating on the stock in a report on Tuesday, June 18th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Dayforce from $70.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $68.40.

Dayforce Trading Down 1.0 %

Dayforce stock opened at $58.99 on Wednesday. The firm’s 50 day moving average price is $54.96 and its 200-day moving average price is $57.37. Dayforce Inc has a 1 year low of $47.08 and a 1 year high of $75.33. The stock has a market cap of $9.31 billion, a P/E ratio of 178.76, a PEG ratio of 2.07 and a beta of 1.29. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.11 and a quick ratio of 1.11.

Dayforce (NYSE:DAY) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.05. The company had revenue of $423.30 million for the quarter, compared to analysts’ expectations of $417.41 million. Dayforce had a net margin of 2.89% and a return on equity of 6.35%. On average, equities analysts predict that Dayforce Inc will post 1.08 earnings per share for the current fiscal year.

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.