Principal Financial Group Inc. Decreases Stake in Dayforce Inc (NYSE:DAY)

Principal Financial Group Inc. trimmed its position in Dayforce Inc (NYSE:DAY) by 1.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 178,420 shares of the company’s stock after selling 3,382 shares during the period. Principal Financial Group Inc.’s holdings in Dayforce were worth $12,960,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of DAY. Farther Finance Advisors LLC purchased a new stake in shares of Dayforce during the third quarter worth about $40,000. Quarry LP acquired a new position in shares of Dayforce in the 3rd quarter worth approximately $51,000. US Bancorp DE boosted its stake in shares of Dayforce by 66.3% during the 3rd quarter. US Bancorp DE now owns 2,363 shares of the company’s stock worth $145,000 after acquiring an additional 942 shares in the last quarter. National Bank of Canada FI purchased a new stake in Dayforce during the third quarter valued at about $179,000. Finally, Harbor Capital Advisors Inc. purchased a new position in Dayforce during the 3rd quarter worth approximately $192,000.

Dayforce Price Performance

DAY opened at $61.68 on Friday. The company has a fifty day moving average price of $69.53 and a two-hundred day moving average price of $67.61. The firm has a market capitalization of $9.73 billion, a PE ratio of 560.73, a P/E/G ratio of 2.49 and a beta of 1.26. Dayforce Inc has a 52 week low of $47.08 and a 52 week high of $82.69. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.15 and a current ratio of 1.13.

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

Insider Transactions at Dayforce

In other news, COO Stephen H. Holdridge sold 1,000 shares of the business’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $71.33, for a total value of $71,330.00. Following the sale, the chief operating officer now directly owns 119,022 shares in the company, valued at $8,489,839.26. The trade was a 0.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 4.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Mizuho boosted their price objective on shares of Dayforce from $85.00 to $95.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Citigroup lowered their price target on Dayforce from $90.00 to $83.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $80.00 price objective (down previously from $85.00) on shares of Dayforce in a report on Wednesday, January 8th. Piper Sandler restated an “overweight” rating and issued a $83.00 price objective (down previously from $94.00) on shares of Dayforce in a research note on Wednesday, February 5th. Finally, Stifel Nicolaus cut their price objective on Dayforce from $90.00 to $85.00 and set a “buy” rating for the company in a report on Thursday, February 6th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $78.64.

Dayforce 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.