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

Dayforce Inc (NYSE:DAY) has been given a consensus recommendation of “Moderate Buy” by the fourteen research firms that are currently covering the stock, MarketBeat.com reports. Six research analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $78.77.

DAY has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft raised their price target on Dayforce from $70.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Piper Sandler restated an “overweight” rating and set a $94.00 target price (up from $82.00) on shares of Dayforce in a research report on Wednesday, November 13th. Needham & Company LLC increased their price target on shares of Dayforce from $82.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Citigroup boosted their price objective on shares of Dayforce from $75.00 to $81.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, TD Cowen increased their target price on shares of Dayforce from $58.00 to $62.00 and gave the stock a “hold” rating in a report on Monday, October 7th.

Dayforce Price Performance

Shares of DAY stock opened at $79.87 on Friday. The firm’s 50 day moving average price is $68.98 and its two-hundred day moving average price is $59.39. The stock has a market cap of $12.60 billion, a PE ratio of 242.03, a PEG ratio of 3.84 and a beta of 1.27. Dayforce has a 52-week low of $47.08 and a 52-week high of $82.69. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.15 and a current ratio of 1.15.

Insider Buying and Selling

In other Dayforce news, insider Jeffrey Scott Jacobs sold 643 shares of Dayforce stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $63.37, for a total value of $40,746.91. Following the sale, the insider now directly owns 34,074 shares in the company, valued at approximately $2,159,269.38. The trade was a 1.85 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Stephen H. Holdridge sold 1,000 shares of the stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $65.00, for a total transaction of $65,000.00. Following the transaction, the chief operating officer now owns 100,437 shares of the company’s stock, valued at approximately $6,528,405. This represents a 0.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 865,340 shares of company stock worth $68,770,223. 4.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Dayforce

Institutional investors have recently added to or reduced their stakes in the company. Financial Perspectives Inc acquired a new stake in shares of Dayforce in the second quarter valued at approximately $28,000. Quent Capital LLC acquired a new stake in Dayforce during the 3rd quarter valued at $28,000. Sentry Investment Management LLC acquired a new stake in Dayforce during the 2nd quarter valued at $33,000. Farther Finance Advisors LLC acquired a new position in shares of Dayforce in the third quarter valued at $40,000. Finally, Quarry LP bought a new position in shares of Dayforce in the third quarter valued at about $51,000.

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.