Dayforce Inc (NYSE:DAY) Receives $78.64 Consensus Price Target from Analysts

Shares of Dayforce Inc (NYSE:DAY) have been given a consensus rating of “Moderate Buy” by the fifteen brokerages that are covering the stock, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $78.64.

Several brokerages recently commented on DAY. Needham & Company LLC restated a “buy” rating and set a $95.00 target price on shares of Dayforce in a research report on Thursday, February 6th. KeyCorp upped their target price on Dayforce from $80.00 to $92.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Scotiabank cut their target price on Dayforce from $75.00 to $72.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 6th. Stifel Nicolaus cut their target price on Dayforce from $90.00 to $85.00 and set a “buy” rating on the stock in a research report on Thursday, February 6th. Finally, Jefferies Financial Group cut their target price on Dayforce from $80.00 to $75.00 and set a “hold” rating on the stock in a research report on Thursday, February 6th.

Dayforce Trading Down 4.5 %

Shares of DAY stock opened at $54.68 on Friday. The stock has a market cap of $8.69 billion, a price-to-earnings ratio of 497.10, a PEG ratio of 2.49 and a beta of 1.33. The stock has a 50-day moving average of $67.91 and a 200-day moving average of $67.76. The company has a current ratio of 1.13, a quick ratio of 1.15 and a debt-to-equity ratio of 0.47. Dayforce has a 1-year low of $47.08 and a 1-year high of $82.69.

Dayforce (NYSE:DAY) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $0.37 earnings per share 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, equities research analysts forecast that Dayforce will post 1.48 earnings per share for the current year.

Insider Buying and Selling

In related news, COO Stephen H. Holdridge sold 1,000 shares of the firm’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 directly owns 119,022 shares of the company’s stock, valued at $8,489,839.26. This trade 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 at this link. 4.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Dayforce

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC purchased a new position in shares of Dayforce in the 3rd quarter worth approximately $40,000. Quarry LP purchased a new position in Dayforce in the third quarter worth $51,000. Harvest Fund Management Co. Ltd bought a new position in Dayforce in the 4th quarter valued at $61,000. Federated Hermes Inc. purchased a new stake in shares of Dayforce during the 4th quarter valued at $72,000. Finally, AlphaQuest LLC increased its position in shares of Dayforce by 14,800.0% during the 4th quarter. AlphaQuest LLC now owns 1,043 shares of the company’s stock valued at $76,000 after purchasing an additional 1,036 shares during the last quarter.

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.