Fidelity National Financial Inc. Buys Shares of 800,000 Dayforce Inc (NYSE:DAY)

Fidelity National Financial Inc. bought a new stake in Dayforce Inc (NYSE:DAY) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 800,000 shares of the company’s stock, valued at approximately $39,680,000. Dayforce makes up 0.8% of Fidelity National Financial Inc.’s portfolio, making the stock its 5th biggest holding. Fidelity National Financial Inc. owned about 0.51% of Dayforce as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in DAY. Candriam S.C.A. purchased a new stake in shares of Dayforce in the second quarter valued at approximately $6,027,000. Royal London Asset Management Ltd. purchased a new stake in shares of Dayforce in the 2nd quarter valued at approximately $2,942,000. State of New Jersey Common Pension Fund D acquired a new stake in shares of Dayforce during the 2nd quarter worth approximately $2,760,000. Forsta AP Fonden purchased a new stake in shares of Dayforce during the 2nd quarter valued at approximately $1,835,000. Finally, Texas Permanent School Fund Corp acquired a new position in Dayforce in the second quarter valued at approximately $1,281,000.

Dayforce Price Performance

Shares of NYSE DAY opened at $59.41 on Friday. The stock’s 50-day simple moving average is $54.53 and its 200-day simple moving average is $57.70. The firm has a market capitalization of $9.38 billion, a PE ratio of 180.03, a price-to-earnings-growth ratio of 2.07 and a beta of 1.29. Dayforce Inc has a fifty-two week low of $47.08 and a fifty-two week high of $75.33. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.11 and a current ratio of 1.11.

Dayforce (NYSE:DAY) last released its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $417.41 million. As a group, equities research analysts forecast that Dayforce Inc will post 1.08 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. BMO Capital Markets reissued an “outperform” rating and set a $75.00 price objective on shares of Dayforce in a research report on Tuesday, June 11th. Needham & Company LLC reiterated a “buy” rating and set a $82.00 price target on shares of Dayforce in a research report on Wednesday, July 31st. TD Cowen decreased their price objective on shares of Dayforce from $63.00 to $53.00 and set a “buy” rating on the stock in a report on Friday, June 28th. Citigroup dropped their target price 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. Finally, Piper Sandler upgraded Dayforce from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $68.00 to $71.00 in a research report on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Dayforce has an average rating of “Moderate Buy” and a consensus price target of $68.40.

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.