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

Dayforce Inc (NYSE:DAY) has been assigned an average rating of “Moderate Buy” from the thirteen brokerages that are covering the stock, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $72.67.

Several analysts have recently issued reports on the stock. Jefferies Financial Group upped their target price on shares of Dayforce from $55.00 to $65.00 and gave the stock a “hold” rating in a research note on Tuesday, October 22nd. TD Cowen upped their target price on shares of Dayforce from $58.00 to $62.00 and gave the stock a “hold” rating in a research note on Monday, October 7th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Dayforce from $70.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Mizuho upped their target price on shares of Dayforce from $80.00 to $85.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, Citigroup upped their target price on shares of Dayforce from $75.00 to $81.00 and gave the stock a “buy” rating in a research note on Thursday.

Dayforce Stock Performance

Shares of DAY stock opened at $75.23 on Monday. The firm has a market capitalization of $11.89 billion, a PE ratio of 227.98, a price-to-earnings-growth ratio of 2.52 and a beta of 1.29. The firm has a fifty day simple moving average of $61.11 and a two-hundred day simple moving average of $56.91. The company has a current ratio of 1.15, a quick ratio of 1.11 and a debt-to-equity ratio of 0.47. Dayforce has a 12 month low of $47.08 and a 12 month high of $75.41.

Dayforce (NYSE:DAY) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.05. The business had revenue of $423.30 million during the quarter, compared to analyst estimates of $417.41 million. Dayforce had a net margin of 3.12% and a return on equity of 6.69%. Analysts forecast that Dayforce will post 1.07 EPS for the current fiscal year.

Insider Buying and Selling at Dayforce

In other Dayforce news, COO Stephen H. Holdridge sold 2,000 shares of the company’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $69.25, for a total transaction of $138,500.00. Following the sale, the chief operating officer now directly owns 98,437 shares of the company’s stock, valued at $6,816,762.25. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, COO Stephen H. Holdridge sold 2,000 shares of the stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $69.25, for a total value of $138,500.00. Following the sale, the chief operating officer now directly owns 98,437 shares of the company’s stock, valued at approximately $6,816,762.25. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jeffrey Scott Jacobs sold 643 shares of the stock in a transaction dated Tuesday, October 15th. The stock was 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 in the company, valued at approximately $2,159,269.38. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 4,643 shares of company stock valued at $307,617 over the last three months. 4.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Dayforce

Institutional investors and hedge funds have recently modified their holdings of the company. Financial Perspectives Inc bought a new position in shares of Dayforce in the second quarter worth approximately $28,000. Quent Capital LLC bought a new position in shares of Dayforce in the third quarter worth approximately $28,000. Sentry Investment Management LLC bought a new position in shares of Dayforce in the second quarter worth approximately $33,000. Farther Finance Advisors LLC bought a new position in shares of Dayforce in the third quarter worth approximately $40,000. Finally, Benjamin F. Edwards & Company Inc. bought a new position in shares of Dayforce in the second quarter worth approximately $62,000.

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.