Brokerages Set Dayforce Inc (NYSE:DAY) Target Price at $80.07

Dayforce Inc (NYSE:DAY) has earned an average recommendation of “Moderate Buy” from the fifteen analysts that are presently covering the stock, MarketBeat.com reports. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $78.64.

DAY has been the subject of several recent research reports. BMO Capital Markets boosted their target price on shares of Dayforce from $80.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Scotiabank lowered their price objective on shares of Dayforce from $75.00 to $72.00 and set a “sector perform” rating for the company in a research report on Thursday, February 6th. Jefferies Financial Group cut their target price on shares of Dayforce from $80.00 to $75.00 and set a “hold” rating on the stock in a report on Thursday, February 6th. Needham & Company LLC reaffirmed a “buy” rating and set a $95.00 target price on shares of Dayforce in a report on Thursday, February 6th. Finally, Deutsche Bank Aktiengesellschaft reiterated 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.

Insider Activity at Dayforce

In other news, CEO David D. Ossip sold 858,697 shares of the company’s stock in a transaction on 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 in the company, 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 SEC, which is available through this link. Also, COO Stephen H. Holdridge sold 1,000 shares of Dayforce stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $76.26, for a total value of $76,260.00. Following the transaction, the chief operating officer now directly owns 121,022 shares in the company, valued at approximately $9,229,137.72. The trade was a 0.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 860,697 shares of company stock worth $68,456,936 over the last ninety days. 4.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Dayforce

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Metis Global Partners LLC raised its position in shares of Dayforce by 3.8% during the fourth quarter. Metis Global Partners LLC now owns 5,261 shares of the company’s stock worth $382,000 after purchasing an additional 193 shares during the period. Xponance Inc. increased its stake in Dayforce by 1.6% in the 4th quarter. Xponance Inc. now owns 22,494 shares of the company’s stock worth $1,634,000 after purchasing an additional 357 shares in the last quarter. Bleakley Financial Group LLC raised its holdings in Dayforce by 9.9% during the 3rd quarter. Bleakley Financial Group LLC now owns 4,867 shares of the company’s stock worth $298,000 after buying an additional 439 shares during the period. Smartleaf Asset Management LLC lifted its stake in Dayforce by 69.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,227 shares of the company’s stock valued at $89,000 after buying an additional 501 shares in the last quarter. Finally, HighTower Advisors LLC boosted its holdings in shares of Dayforce by 11.0% in the third quarter. HighTower Advisors LLC now owns 6,083 shares of the company’s stock worth $368,000 after buying an additional 602 shares during the period.

Dayforce Trading Down 0.8 %

DAY opened at $65.25 on Wednesday. The firm’s 50 day moving average is $72.73 and its 200-day moving average is $66.76. Dayforce has a 52-week low of $47.08 and a 52-week high of $82.69. The company has a quick ratio of 1.15, a current ratio of 1.13 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $10.29 billion, a P/E ratio of 593.24, a P/E/G ratio of 2.41 and a beta of 1.26.

Dayforce (NYSE:DAY) last announced its earnings results on Wednesday, February 5th. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.09). Dayforce had a net margin of 1.03% and a return on equity of 6.49%. Analysts expect that Dayforce will post 1.41 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.