Dayforce Inc (NYSE:DAY) Receives $78.77 Average PT from Brokerages

Shares of Dayforce Inc (NYSE:DAY) have received an average recommendation of “Moderate Buy” from the fourteen research firms that are currently covering the stock, Marketbeat Ratings reports. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $78.77.

Several equities analysts have commented on the stock. Piper Sandler reissued an “overweight” rating and issued a $94.00 target price (up from $82.00) on shares of Dayforce in a report on Wednesday, November 13th. Mizuho lifted their price target on Dayforce from $85.00 to $95.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Jefferies Financial Group upped their price objective on shares of Dayforce from $55.00 to $65.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. Barclays increased their target price on Dayforce from $70.00 to $80.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 13th. Finally, BMO Capital Markets lifted their price target on shares of Dayforce from $80.00 to $90.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th.

Dayforce Price Performance

Dayforce stock opened at $79.87 on Friday. The firm has a market cap of $12.60 billion, a PE ratio of 242.03, a price-to-earnings-growth ratio of 3.84 and a beta of 1.27. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.15 and a quick ratio of 1.15. The stock’s fifty day moving average price is $68.98 and its two-hundred day moving average price is $59.39. Dayforce has a one year low of $47.08 and a one year high of $82.69.

Insiders Place Their Bets

In other Dayforce news, COO Stephen H. Holdridge sold 1,000 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $63.37, for a total value of $63,370.00. Following the transaction, the chief operating officer now owns 101,437 shares in the company, valued at approximately $6,428,062.69. This represents a 0.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO David D. Ossip sold 858,697 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $79.55, for a total value of $68,309,346.35. Following the sale, the chief executive officer now owns 794,527 shares of the company’s stock, valued at approximately $63,204,622.85. This represents a 51.94 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 865,340 shares of company stock worth $68,770,223. 4.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Select Equity Group L.P. acquired a new stake in shares of Dayforce in the 2nd quarter worth about $721,310,000. EdgePoint Investment Group Inc. bought a new position in shares of Dayforce in the second quarter valued at approximately $521,396,000. Dragoneer Investment Group LLC bought a new position in shares of Dayforce in the second quarter valued at approximately $193,274,000. Dimensional Fund Advisors LP purchased a new position in shares of Dayforce during the second quarter valued at approximately $51,027,000. Finally, Cannae Holdings Inc. bought a new stake in shares of Dayforce in the 2nd quarter worth $49,600,000.

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.