Dayforce, Inc. (NYSE:DAY) Given Average Recommendation of “Hold” by Brokerages

Shares of Dayforce, Inc. (NYSE:DAY) have received an average rating of “Hold” from the eighteen research firms that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, two have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $70.3571.

DAY has been the topic of a number of research analyst reports. Jefferies Financial Group raised their target price on Dayforce from $60.00 to $70.00 and gave the company a “hold” rating in a report on Thursday, August 21st. KeyCorp cut Dayforce from an “overweight” rating to a “sector weight” rating in a research report on Friday, August 22nd. William Blair lowered shares of Dayforce from an “outperform” rating to a “hold” rating in a research report on Wednesday, August 20th. TD Cowen cut shares of Dayforce from a “buy” rating to a “hold” rating in a research note on Thursday, August 21st. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $70.00 price target (down from $72.00) on shares of Dayforce in a report on Friday, September 19th.

Dayforce Stock Performance

Shares of DAY opened at $68.79 on Friday. The company has a market capitalization of $11.01 billion, a PE ratio of -73.18, a price-to-earnings-growth ratio of 2.65 and a beta of 1.20. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.04 and a quick ratio of 1.04. Dayforce has a one year low of $48.01 and a one year high of $82.69. The company’s fifty day moving average price is $68.73 and its 200 day moving average price is $62.22.

Dayforce (NYSE:DAY) last issued its quarterly earnings results on Wednesday, October 29th. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.19). The business had revenue of $481.60 million during the quarter, compared to analyst estimates of $481.22 million. Dayforce had a negative net margin of 7.91% and a positive return on equity of 6.54%. The company’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.47 earnings per share. As a group, analysts expect that Dayforce will post 1.48 earnings per share for the current year.

Insider Activity at Dayforce

In other Dayforce news, EVP Samer Alkharrat sold 3,233 shares of the firm’s stock in a transaction that occurred on Friday, October 24th. The stock was sold at an average price of $68.55, for a total value of $221,622.15. Following the completion of the sale, the executive vice president owned 117,934 shares in the company, valued at approximately $8,084,375.70. This trade represents a 2.67% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP William Everett Mcdonald sold 1,912 shares of Dayforce stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $68.25, for a total value of $130,494.00. Following the sale, the executive vice president directly owned 101,772 shares in the company, valued at $6,945,939. The trade was a 1.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 74,179 shares of company stock worth $5,081,720 in the last three months. Corporate insiders own 4.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Teacher Retirement System of Texas bought a new stake in Dayforce in the 1st quarter valued at $1,282,000. Principal Financial Group Inc. boosted its position in shares of Dayforce by 53.0% during the 1st quarter. Principal Financial Group Inc. now owns 273,055 shares of the company’s stock valued at $15,927,000 after acquiring an additional 94,635 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in shares of Dayforce by 2.3% during the 1st quarter. Envestnet Asset Management Inc. now owns 37,758 shares of the company’s stock valued at $2,202,000 after acquiring an additional 854 shares in the last quarter. State of Michigan Retirement System increased its stake in Dayforce by 0.7% in the first quarter. State of Michigan Retirement System now owns 43,110 shares of the company’s stock valued at $2,515,000 after acquiring an additional 300 shares during the period. Finally, CFC Planning Co LLC raised its position in Dayforce by 18.6% in the first quarter. CFC Planning Co LLC now owns 3,989 shares of the company’s stock worth $233,000 after purchasing an additional 626 shares in the last quarter.

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.