Qsemble Capital Management LP Invests $1.15 Million in Dayforce Inc (NYSE:DAY)

Qsemble Capital Management LP acquired a new position in shares of Dayforce Inc (NYSE:DAY) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 23,101 shares of the company’s stock, valued at approximately $1,146,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Candriam S.C.A. bought a new position in shares of Dayforce during the 2nd quarter worth about $6,027,000. Royal London Asset Management Ltd. bought a new position in shares of Dayforce during the 2nd quarter worth about $2,942,000. State of New Jersey Common Pension Fund D bought a new position in Dayforce during the 2nd quarter valued at about $2,760,000. Texas Permanent School Fund Corp bought a new position in Dayforce during the 2nd quarter valued at about $1,281,000. Finally, Daiwa Securities Group Inc. bought a new position in Dayforce during the 2nd quarter valued at about $1,251,000.

Dayforce Trading Up 1.6 %

Shares of NYSE DAY opened at $58.81 on Friday. Dayforce Inc has a 1-year low of $47.08 and a 1-year high of $75.33. The company has a market cap of $9.29 billion, a PE ratio of 178.21, a P/E/G ratio of 1.95 and a beta of 1.29. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49. The company has a 50-day moving average of $54.36 and a two-hundred day moving average of $57.78.

Dayforce (NYSE:DAY) last announced its earnings results on Wednesday, July 31st. The company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.05. Dayforce had a net margin of 2.89% and a return on equity of 6.35%. The company had revenue of $423.30 million during the quarter, compared to the consensus estimate of $417.41 million. As a group, equities analysts expect that Dayforce Inc will post 1.08 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently issued reports on DAY shares. 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 target for the company from $68.00 to $71.00 in a report on Wednesday, July 31st. BMO Capital Markets reissued an “outperform” rating and set a $75.00 price target on shares of Dayforce in a report on Tuesday, June 11th. Needham & Company LLC reissued a “buy” rating and set a $82.00 price target on shares of Dayforce in a report on Wednesday, July 31st. Finally, Piper Sandler Companies reissued a “neutral” rating and set a $68.00 price target on shares of Dayforce in a report on Friday, May 17th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.