Dayforce, Inc. (NYSE:DAY) Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. raised its stake in Dayforce, Inc. (NYSE:DAY - Free Report) by 53.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 273,055 shares of the company's stock after buying an additional 94,635 shares during the period. Principal Financial Group Inc. owned about 0.17% of Dayforce worth $15,927,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in DAY. Teacher Retirement System of Texas purchased a new stake in shares of Dayforce in the first quarter worth approximately $1,282,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in Dayforce by 13.4% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,585 shares of the company's stock worth $1,259,000 after purchasing an additional 2,557 shares during the last quarter. Amalgamated Bank increased its holdings in shares of Dayforce by 2.2% in the first quarter. Amalgamated Bank now owns 30,966 shares of the company's stock worth $1,806,000 after buying an additional 661 shares during the period. Exchange Traded Concepts LLC boosted its position in Dayforce by 38.6% during the 1st quarter. Exchange Traded Concepts LLC now owns 3,669 shares of the company's stock valued at $214,000 after acquiring an additional 1,022 shares in the last quarter. Finally, Fifth Third Bancorp grew its stake in shares of Dayforce by 7.1% in the 1st quarter. Fifth Third Bancorp now owns 9,802 shares of the company's stock worth $572,000 after buying an additional 648 shares during the last quarter.

Insider Buying and Selling at Dayforce

In other news, EVP Samer Alkharrat sold 664 shares of the firm's stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $57.95, for a total value of $38,478.80. Following the sale, the executive vice president directly owned 132,266 shares in the company, valued at approximately $7,664,814.70. This trade represents a 0.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 4.50% of the company's stock.

Dayforce Stock Down 1.1%

Dayforce stock traded down $0.63 during mid-day trading on Tuesday, reaching $54.25. 939,447 shares of the company's stock were exchanged, compared to its average volume of 1,757,385. Dayforce, Inc. has a twelve month low of $48.01 and a twelve month high of $82.69. The company has a fifty day moving average of $57.76 and a 200-day moving average of $60.67. The company has a market cap of $8.67 billion, a P/E ratio of 339.08, a P/E/G ratio of 2.16 and a beta of 1.08. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.24.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on DAY shares. KeyCorp dropped their price target on Dayforce from $80.00 to $65.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. Citigroup raised their target price on Dayforce from $68.00 to $70.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Mizuho decreased their price target on Dayforce from $95.00 to $80.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. Jefferies Financial Group restated a "hold" rating on shares of Dayforce in a research report on Friday, May 23rd. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $95.00 price target on shares of Dayforce in a report on Monday, June 30th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $70.86.

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.