Dayforce Inc (NYSE:DAY) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Dayforce Inc (NYSE:DAY) have been given a consensus recommendation of “Moderate Buy” by the fifteen ratings firms that are presently covering the company, Marketbeat.com reports. Seven analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $79.93.

DAY has been the subject of several recent analyst reports. Barclays decreased their target price on Dayforce from $84.00 to $80.00 and set an “equal weight” rating for the company in a research note on Friday. Jefferies Financial Group raised their target price on Dayforce from $55.00 to $65.00 and gave the stock a “hold” rating in a research note on Tuesday, October 22nd. Mizuho raised their target price on Dayforce from $85.00 to $95.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Piper Sandler reaffirmed an “overweight” rating and set a $94.00 target price (up previously from $82.00) on shares of Dayforce in a research note on Wednesday, November 13th. Finally, Stifel Nicolaus raised their price objective on Dayforce from $82.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th.

Insider Buying and Selling

In other news, insider Jeffrey Scott Jacobs sold 643 shares of the company’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $63.37, for a total value of $40,746.91. Following the completion of the transaction, the insider now directly owns 34,074 shares in the company, valued at approximately $2,159,269.38. This represents a 1.85 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David D. Ossip sold 858,697 shares of the company’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $79.55, for a total value of $68,309,346.35. Following the completion of the transaction, the chief executive officer now owns 794,527 shares of the company’s stock, valued at $63,204,622.85. The trade was a 51.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 865,340 shares of company stock worth $68,770,223 over the last ninety days. 4.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Dayforce

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Financial Perspectives Inc bought a new position in Dayforce during the 2nd quarter valued at approximately $28,000. Quent Capital LLC bought a new position in shares of Dayforce in the 3rd quarter worth approximately $28,000. Sentry Investment Management LLC bought a new position in shares of Dayforce in the 2nd quarter worth approximately $33,000. Farther Finance Advisors LLC bought a new position in shares of Dayforce in the 3rd quarter worth approximately $40,000. Finally, Quarry LP bought a new position in shares of Dayforce in the 3rd quarter worth approximately $51,000.

Dayforce Price Performance

Dayforce stock opened at $70.30 on Friday. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $11.09 billion, a PE ratio of 213.04, a P/E/G ratio of 3.68 and a beta of 1.26. Dayforce has a 12 month low of $47.08 and a 12 month high of $82.69. The stock has a 50-day moving average price of $76.40 and a two-hundred day moving average price of $63.88.

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.