Dayforce Inc (NYSE:DAY) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Dayforce Inc (NYSE:DAY) have been assigned a consensus recommendation of “Moderate Buy” from the sixteen brokerages that are currently covering the stock, Marketbeat Ratings reports. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $77.86.

A number of research firms have recently commented on DAY. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $80.00 target price (down from $85.00) on shares of Dayforce in a research report on Wednesday, January 8th. Scotiabank dropped their price objective on Dayforce from $72.00 to $55.00 and set a “sector perform” rating on the stock in a report on Monday, March 17th. Citigroup reduced their target price on Dayforce from $90.00 to $83.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Stifel Nicolaus dropped their price target on shares of Dayforce from $90.00 to $85.00 and set a “buy” rating on the stock in a research note on Thursday, February 6th. Finally, Jefferies Financial Group reduced their price objective on shares of Dayforce from $80.00 to $75.00 and set a “hold” rating for the company in a research report on Thursday, February 6th.

Dayforce Stock Up 0.2 %

Dayforce stock opened at $58.42 on Thursday. The business’s 50-day simple moving average is $63.07 and its two-hundred day simple moving average is $67.98. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.15 and a current ratio of 1.13. The company has a market cap of $9.25 billion, a PE ratio of 531.14, a PEG ratio of 2.49 and a beta of 1.33. Dayforce has a fifty-two week low of $47.08 and a fifty-two week high of $82.69.

Dayforce (NYSE:DAY) last posted its quarterly earnings results 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%. Equities analysts anticipate that Dayforce will post 1.48 EPS for the current year.

Insider Buying and Selling at Dayforce

In other news, COO Stephen H. Holdridge sold 1,000 shares of the business’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $71.33, for a total transaction of $71,330.00. Following the transaction, the chief operating officer now owns 119,022 shares of the company’s stock, valued at approximately $8,489,839.26. The trade was a 0.83 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 4.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Dayforce

Institutional investors and hedge funds have recently bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Dayforce in the third quarter valued at $220,000. Charles Schwab Investment Management Inc. increased its position in shares of Dayforce by 0.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,395,044 shares of the company’s stock worth $85,446,000 after purchasing an additional 8,506 shares during the last quarter. Cerity Partners LLC raised its holdings in Dayforce by 39.7% in the 3rd quarter. Cerity Partners LLC now owns 28,110 shares of the company’s stock valued at $1,722,000 after buying an additional 7,992 shares during the period. Swedbank AB acquired a new position in Dayforce in the third quarter valued at about $5,292,000. Finally, Daiwa Securities Group Inc. boosted its stake in Dayforce by 9.3% during the third quarter. Daiwa Securities Group Inc. now owns 27,574 shares of the company’s stock worth $1,689,000 after buying an additional 2,344 shares during the period.

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.