Seven Eight Capital LP Purchases New Position in Dayforce Inc (NYSE:DAY)

Seven Eight Capital LP purchased a new stake in Dayforce Inc (NYSE:DAY) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 104,916 shares of the company’s stock, valued at approximately $5,204,000. Dayforce makes up about 0.5% of Seven Eight Capital LP’s portfolio, making the stock its 22nd biggest holding. Seven Eight Capital LP owned 0.07% of Dayforce at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Candriam S.C.A. purchased a new stake in Dayforce in the 2nd quarter valued at about $6,027,000. New Mexico Educational Retirement Board purchased a new stake in Dayforce in the 2nd quarter valued at about $392,000. Acadian Asset Management LLC purchased a new stake in Dayforce in the 2nd quarter valued at about $287,000. Prudential PLC purchased a new stake in shares of Dayforce during the 2nd quarter worth approximately $490,000. Finally, Texas Permanent School Fund Corp purchased a new stake in shares of Dayforce during the 2nd quarter worth approximately $1,281,000.

Dayforce Stock Performance

Dayforce stock opened at $58.99 on Wednesday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $9.31 billion, a PE ratio of 178.76, a P/E/G ratio of 2.07 and a beta of 1.29. The firm has a fifty day simple moving average of $54.96 and a two-hundred day simple moving average of $57.37. Dayforce Inc has a twelve month low of $47.08 and a twelve month high of $75.33.

Dayforce (NYSE:DAY) last posted 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 business had revenue of $423.30 million during the quarter, compared to the consensus estimate of $417.41 million. Dayforce had a net margin of 2.89% and a return on equity of 6.35%. Research analysts expect that Dayforce Inc will post 1.08 EPS for the current year.

Analysts Set New Price Targets

DAY has been the subject of a number of recent research reports. Wells Fargo & Company reduced their price objective on shares of Dayforce from $64.00 to $52.00 and set an “equal weight” rating for the company in a research note on Friday, June 21st. Deutsche Bank Aktiengesellschaft raised their price target on shares of Dayforce from $70.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Citigroup cut their price target on shares of Dayforce from $72.00 to $66.00 and set a “buy” rating for the company in a report on Tuesday, June 18th. Piper Sandler raised shares of Dayforce from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $68.00 to $71.00 in a report on Wednesday, July 31st. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $75.00 price objective on shares of Dayforce in a report on Tuesday, June 11th. 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, Dayforce presently has an average rating of “Moderate Buy” and an average price target of $68.40.

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.