Dayforce Inc (NYSE:DAY) Receives Average Recommendation of “Moderate Buy” from Analysts

Dayforce Inc (NYSE:DAY) has received a consensus rating 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 given a buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $79.07.

A number of research analysts have recently weighed in on the company. Jefferies Financial Group cut their price objective on Dayforce from $80.00 to $75.00 and set a “hold” rating on the stock in a report on Thursday, February 6th. Barclays cut their price objective on Dayforce from $80.00 to $69.00 and set an “equal weight” rating on the stock in a report on Thursday, February 6th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $80.00 price objective (down from $85.00) on shares of Dayforce in a report on Wednesday, January 8th. Citigroup cut their price objective on Dayforce from $90.00 to $83.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Finally, Needham & Company LLC restated a “buy” rating and issued a $95.00 target price on shares of Dayforce in a research note on Thursday, February 6th.

Dayforce Trading Up 1.4 %

Shares of NYSE:DAY opened at $55.43 on Friday. The business’s 50-day moving average is $67.54 and its 200 day moving average is $67.85. Dayforce has a 1 year low of $47.08 and a 1 year high of $82.69. The firm has a market capitalization of $8.81 billion, a P/E ratio of 503.96, a P/E/G ratio of 2.49 and a beta of 1.33. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.13 and a quick ratio of 1.15.

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 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, research analysts predict that Dayforce will post 1.48 earnings per share for the current fiscal year.

Insider Buying and Selling at Dayforce

In other Dayforce news, COO Stephen H. Holdridge sold 1,000 shares of Dayforce stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $71.33, for a total value of $71,330.00. Following the sale, the chief operating officer now owns 119,022 shares in the company, valued at $8,489,839.26. The trade was a 0.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 4.90% of the company’s stock.

Institutional Investors Weigh In On Dayforce

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DAY. FMR LLC raised its position in Dayforce by 382.5% in the fourth quarter. FMR LLC now owns 3,215,123 shares of the company’s stock valued at $233,547,000 after purchasing an additional 2,548,779 shares during the period. Capital International Investors raised its holdings in shares of Dayforce by 3.9% in the 4th quarter. Capital International Investors now owns 17,659,706 shares of the company’s stock valued at $1,282,800,000 after buying an additional 667,065 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Dayforce by 18,250.4% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 660,613 shares of the company’s stock valued at $47,890,000 after buying an additional 657,013 shares during the period. California Public Employees Retirement System raised its holdings in shares of Dayforce by 189.0% in the 4th quarter. California Public Employees Retirement System now owns 567,561 shares of the company’s stock valued at $41,228,000 after buying an additional 371,153 shares during the period. Finally, New York State Common Retirement Fund purchased a new stake in shares of Dayforce in the 3rd quarter valued at $20,942,000.

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.