Principal Financial Group Inc. Buys Shares of 181,802 Dayforce Inc (NYSE:DAY)

Principal Financial Group Inc. bought a new stake in shares of Dayforce Inc (NYSE:DAY) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 181,802 shares of the company’s stock, valued at approximately $11,135,000.

A number of other institutional investors and hedge funds have also made changes to their positions in DAY. Financial Perspectives Inc bought a new position in shares of Dayforce during the second quarter valued at approximately $28,000. Quent Capital LLC bought a new position in shares of Dayforce during the third quarter valued at approximately $28,000. Sentry Investment Management LLC bought a new stake in shares of Dayforce during the second quarter valued at approximately $33,000. Farther Finance Advisors LLC bought a new stake in shares of Dayforce during the third quarter valued at approximately $40,000. Finally, Benjamin F. Edwards & Company Inc. bought a new stake in shares of Dayforce during the second quarter valued at approximately $62,000.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. BMO Capital Markets raised their price target on shares of Dayforce from $80.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Mizuho raised their price target 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. Piper Sandler reissued an “overweight” rating and set a $94.00 price target (up previously from $82.00) on shares of Dayforce in a research report on Wednesday, November 13th. Barclays raised their price target on shares of Dayforce from $70.00 to $80.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 13th. Finally, Jefferies Financial Group raised their price target on shares of Dayforce from $55.00 to $65.00 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $79.08.

Insider Transactions at Dayforce

In other news, insider Jeffrey Scott Jacobs sold 643 shares of Dayforce stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $63.37, for a total transaction of $40,746.91. Following the transaction, the insider now owns 34,074 shares in the company, valued at $2,159,269.38. This trade represents a 1.85 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Stephen H. Holdridge sold 1,000 shares of Dayforce stock in a transaction on Friday, October 18th. The stock was sold at an average price of $65.00, for a total transaction of $65,000.00. Following the transaction, the chief operating officer now owns 100,437 shares in the company, valued at $6,528,405. This represents a 0.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,643 shares of company stock worth $384,617 in the last 90 days. 4.90% of the stock is currently owned by insiders.

Dayforce Trading Down 2.8 %

Shares of Dayforce stock opened at $74.56 on Monday. The company’s fifty day simple moving average is $65.44 and its 200-day simple moving average is $58.15. The stock has a market capitalization of $11.76 billion, a PE ratio of 225.95, a P/E/G ratio of 3.50 and a beta of 1.27. Dayforce Inc has a 1-year low of $47.08 and a 1-year high of $81.32. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.15 and a quick ratio of 1.15.

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.