Analysts Set Dayforce Inc (NYSE:DAY) Price Target at $79.08

Dayforce Inc (NYSE:DAY) has earned a consensus recommendation of “Moderate Buy” from the fifteen brokerages that are currently covering the stock, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $79.86.

DAY has been the subject of a number of research analyst reports. Mizuho raised their target price on Dayforce from $85.00 to $95.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Needham & Company LLC increased their price target on shares of Dayforce from $82.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Barclays raised their target price on Dayforce from $80.00 to $84.00 and gave the company an “equal weight” rating in a research report on Friday, December 6th. TD Cowen boosted their price target on shares of Dayforce from $58.00 to $62.00 and gave the stock a “hold” rating in a report on Monday, October 7th. Finally, Citigroup increased their target price on Dayforce from $75.00 to $81.00 and gave the company a “buy” rating in a report on Thursday, October 31st.

Insider Activity

In other news, CEO David D. Ossip sold 858,697 shares of the company’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $79.55, for a total value of $68,309,346.35. Following the completion of the sale, the chief executive officer now owns 794,527 shares of the company’s stock, valued at $63,204,622.85. This represents a 51.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jeffrey Scott Jacobs sold 643 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $63.37, for a total value of $40,746.91. Following the completion of the transaction, the insider now directly owns 34,074 shares of the company’s stock, valued at $2,159,269.38. This represents a 1.85 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 865,340 shares of company stock valued at $68,770,223 over the last 90 days. Insiders own 4.90% of the company’s stock.

Institutional Investors Weigh In On Dayforce

Institutional investors and hedge funds have recently bought and sold shares of the business. Select Equity Group L.P. acquired a new position in shares of Dayforce in the 2nd quarter worth approximately $721,310,000. EdgePoint Investment Group Inc. acquired a new stake in shares of Dayforce in the second quarter worth $521,396,000. Dragoneer Investment Group LLC bought a new position in Dayforce during the second quarter valued at about $193,274,000. Dimensional Fund Advisors LP acquired a new position in shares of Dayforce in the second quarter valued at $51,027,000. Finally, Cannae Holdings Inc. bought a new position in Dayforce during the second quarter worth about $49,600,000.

Dayforce Stock Up 0.6 %

Shares of Dayforce stock opened at $74.00 on Tuesday. The firm’s 50 day moving average price is $74.23 and its 200-day moving average price is $61.41. The company has a market cap of $11.67 billion, a P/E ratio of 224.25, a PEG ratio of 3.68 and a beta of 1.26. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.47. Dayforce has a 52-week low of $47.08 and a 52-week high of $82.69.

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.