Principal Financial Group Inc. Has $15.93 Million Stake in Dayforce, Inc. (NYSE:DAY)

Principal Financial Group Inc. grew its position in Dayforce, Inc. (NYSE:DAY - Free Report) by 53.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 273,055 shares of the company's stock after purchasing an additional 94,635 shares during the quarter. Principal Financial Group Inc. owned about 0.17% of Dayforce worth $15,927,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Stifel Financial Corp grew its position in shares of Dayforce by 4.1% in the fourth quarter. Stifel Financial Corp now owns 5,206 shares of the company's stock valued at $378,000 after purchasing an additional 205 shares during the last quarter. United Capital Financial Advisors LLC grew its position in Dayforce by 3.5% during the fourth quarter. United Capital Financial Advisors LLC now owns 6,740 shares of the company's stock worth $490,000 after buying an additional 228 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its position in Dayforce by 0.6% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 43,707 shares of the company's stock worth $3,175,000 after buying an additional 277 shares in the last quarter. Utah Retirement Systems grew its position in Dayforce by 1.2% during the fourth quarter. Utah Retirement Systems now owns 24,923 shares of the company's stock worth $1,810,000 after buying an additional 300 shares in the last quarter. Finally, Neuberger Berman Group LLC grew its position in Dayforce by 3.5% during the fourth quarter. Neuberger Berman Group LLC now owns 9,076 shares of the company's stock worth $659,000 after buying an additional 305 shares in the last quarter.

Dayforce Price Performance

Shares of DAY stock traded down $3.02 during trading hours on Friday, reaching $55.25. The company's stock had a trading volume of 1,411,418 shares, compared to its average volume of 1,759,548. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.24. Dayforce, Inc. has a fifty-two week low of $48.01 and a fifty-two week high of $82.69. The company has a market capitalization of $8.83 billion, a price-to-earnings ratio of 49.78, a PEG ratio of 2.16 and a beta of 1.08. The firm's 50 day simple moving average is $57.83 and its 200-day simple moving average is $60.89.

Insider Buying and Selling at Dayforce

In related news, EVP Samer Alkharrat sold 664 shares of the firm's stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $57.95, for a total transaction of $38,478.80. Following the sale, the executive vice president owned 132,266 shares of the company's stock, valued at $7,664,814.70. This trade represents a 0.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP William Everett Mcdonald sold 2,000 shares of the firm's stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $56.16, for a total value of $112,320.00. Following the sale, the executive vice president directly owned 105,691 shares in the company, valued at approximately $5,935,606.56. This trade represents a 1.86% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,580 shares of company stock worth $259,321. 4.50% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on DAY. Piper Sandler reduced their price target on Dayforce from $83.00 to $70.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 7th. Jefferies Financial Group reissued a "hold" rating on shares of Dayforce in a research report on Friday, May 23rd. Mizuho reduced their price target on Dayforce from $95.00 to $80.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 15th. Barclays reduced their price target on Dayforce from $61.00 to $60.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 8th. Finally, Wells Fargo & Company downgraded Dayforce from an "equal weight" rating to an "underweight" rating and reduced their price target for the stock from $60.00 to $50.00 in a research report on Friday, June 13th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $70.86.

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.