Dayforce Inc (NYSE:DAY) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Dayforce Inc (NYSE:DAY) have received a consensus rating of “Moderate Buy” from the thirteen analysts that are currently covering the company, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $69.75.

A number of brokerages have weighed in on DAY. Jefferies Financial Group increased their price target on Dayforce from $55.00 to $65.00 and gave the stock a “hold” rating in a research note on Tuesday, October 22nd. KeyCorp assumed coverage on Dayforce in a research note on Tuesday, September 24th. They issued an “overweight” rating and a $70.00 price target on the stock. TD Cowen upped their price objective on shares of Dayforce from $58.00 to $62.00 and gave the company a “hold” rating in a research note on Monday, October 7th. Piper Sandler raised shares of Dayforce from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $68.00 to $71.00 in a research report on Wednesday, July 31st. Finally, Citigroup upped their price target on shares of Dayforce from $74.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th.

Insider Transactions at Dayforce

In other Dayforce news, COO Stephen H. Holdridge sold 1,000 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $63.37, for a total transaction of $63,370.00. Following the transaction, the chief operating officer now owns 101,437 shares in the company, valued at $6,428,062.69. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Jeffrey Scott Jacobs sold 643 shares of the firm’s 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 completion of the sale, the insider now directly owns 34,074 shares of the company’s stock, valued at approximately $2,159,269.38. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Stephen H. Holdridge sold 1,000 shares of the business’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $63.37, for a total transaction of $63,370.00. Following the completion of the transaction, the chief operating officer now owns 101,437 shares in the company, valued at $6,428,062.69. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,643 shares of company stock valued at $169,117 over the last 90 days. Corporate insiders own 4.90% of the company’s stock.

Institutional Trading of Dayforce

Several large investors have recently modified their holdings of the business. Financial Perspectives Inc purchased a new position in shares of Dayforce during the 2nd quarter valued at approximately $28,000. Quent Capital LLC bought a new position in Dayforce during the 3rd quarter valued at $28,000. Sentry Investment Management LLC acquired a new position in Dayforce during the 2nd quarter worth $33,000. Benjamin F. Edwards & Company Inc. bought a new stake in shares of Dayforce in the 2nd quarter worth about $62,000. Finally, Brown Brothers Harriman & Co. acquired a new stake in shares of Dayforce in the 2nd quarter valued at about $66,000.

Dayforce Stock Down 0.3 %

DAY opened at $64.84 on Monday. The firm has a market cap of $10.24 billion, a P/E ratio of 196.48, a PEG ratio of 2.23 and a beta of 1.29. The business’s fifty day simple moving average is $59.72 and its 200 day simple moving average is $56.60. Dayforce has a 52 week low of $47.08 and a 52 week high of $74.66. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.49.

Dayforce (NYSE:DAY) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.23 earnings per share for the quarter, beating 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 business had revenue of $423.30 million during the quarter, compared to analyst estimates of $417.41 million. As a group, equities research analysts anticipate that Dayforce will post 1.07 EPS for the current fiscal year.

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.