Analysts Set Dayforce Inc (NYSE:DAY) Target Price at $77.86

Shares of Dayforce Inc (NYSE:DAY) have received a consensus rating of “Moderate Buy” from the sixteen analysts that are currently covering the stock, Marketbeat reports. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $77.86.

A number of equities analysts have issued reports on DAY shares. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $80.00 price target (down from $85.00) on shares of Dayforce in a research report on Wednesday, January 8th. Scotiabank decreased their target price on shares of Dayforce from $72.00 to $55.00 and set a “sector perform” rating for the company in a research report on Monday, March 17th. Cowen raised Dayforce from a “hold” rating to a “buy” rating in a research report on Friday, March 7th. TD Cowen upgraded Dayforce from a “hold” rating to a “buy” rating and lifted their price objective for the company from $67.00 to $68.00 in a research note on Friday, March 7th. Finally, Barclays lowered their target price on Dayforce from $80.00 to $69.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 6th.

Insider Activity at Dayforce

In related news, COO Stephen H. Holdridge sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $71.33, for a total transaction of $71,330.00. Following the completion of the sale, the chief operating officer now directly owns 119,022 shares in the company, valued at approximately $8,489,839.26. The trade was a 0.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Dayforce

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Quarry LP purchased a new position in shares of Dayforce in the third quarter worth about $51,000. Harvest Fund Management Co. Ltd purchased a new position in Dayforce in the 4th quarter worth approximately $61,000. Federated Hermes Inc. acquired a new position in shares of Dayforce during the 4th quarter worth approximately $72,000. AlphaQuest LLC grew its position in shares of Dayforce by 14,800.0% in the fourth quarter. AlphaQuest LLC now owns 1,043 shares of the company’s stock valued at $76,000 after purchasing an additional 1,036 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its position in shares of Dayforce by 69.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,227 shares of the company’s stock valued at $89,000 after purchasing an additional 501 shares in the last quarter.

Dayforce Price Performance

Shares of DAY opened at $58.31 on Thursday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.13 and a quick ratio of 1.15. The company’s fifty day moving average price is $63.29 and its 200-day moving average price is $67.91. Dayforce has a 1-year low of $47.08 and a 1-year high of $82.69. The firm has a market capitalization of $9.23 billion, a PE ratio of 530.15, a price-to-earnings-growth ratio of 2.49 and a beta of 1.33.

Dayforce (NYSE:DAY) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.09). Dayforce had a net margin of 1.03% and a return on equity of 6.49%. On average, equities research analysts predict that Dayforce will post 1.48 EPS for the current year.

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.