Dayforce Inc (NYSE:DAY) Receives $77.86 Consensus PT from Analysts

Shares of Dayforce Inc (NYSE:DAY) have earned an average rating of “Moderate Buy” from the sixteen brokerages that are covering the firm, Marketbeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $77.86.

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

Insider Buying and Selling

In other news, COO Stephen H. Holdridge sold 1,000 shares of the company’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 owns 119,022 shares in the company, valued at $8,489,839.26. This represents 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 this link. Corporate insiders own 4.50% of the company’s stock.

Hedge Funds Weigh In On Dayforce

Large investors have recently modified their holdings of the business. Principal Financial Group Inc. purchased a new stake in shares of Dayforce in the third quarter valued at about $11,135,000. Smartleaf Asset Management LLC grew its holdings in Dayforce by 69.0% during the 4th 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 during the last quarter. Retirement Systems of Alabama acquired a new stake in Dayforce during the 3rd quarter valued at $2,105,000. SG Americas Securities LLC raised its holdings in shares of Dayforce by 167.7% in the fourth quarter. SG Americas Securities LLC now owns 19,322 shares of the company’s stock worth $1,404,000 after acquiring an additional 12,103 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Dayforce by 31.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,028 shares of the company’s stock worth $1,398,000 after acquiring an additional 4,596 shares during the last quarter.

Dayforce Stock Up 0.2 %

NYSE:DAY opened at $58.42 on Thursday. 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 stock’s fifty day moving average is $63.07 and its two-hundred day moving average is $67.98. The stock has a market capitalization of $9.25 billion, a price-to-earnings ratio of 531.14, a price-to-earnings-growth ratio of 2.49 and a beta of 1.33.

Dayforce (NYSE:DAY) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $0.37 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%. Research analysts anticipate that Dayforce will post 1.48 EPS for the current 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.