Dayforce (NYSE:DAY) Upgraded at Zacks Research

Zacks Research upgraded shares of Dayforce (NYSE:DAY) from a strong sell rating to a hold rating in a research report sent to investors on Tuesday morning,Zacks.com reports.

Several other brokerages also recently issued reports on DAY. UBS Group downgraded Dayforce from a “strong-buy” rating to a “hold” rating in a report on Saturday, November 15th. Stifel Nicolaus reiterated a “hold” rating and issued a $70.00 price objective (down from $72.00) on shares of Dayforce in a research report on Friday, September 19th. Citigroup downgraded shares of Dayforce from a “buy” rating to a “neutral” rating and set a $70.00 target price on the stock. in a report on Wednesday, September 17th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Dayforce in a research note on Monday. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Dayforce in a report on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Dayforce presently has an average rating of “Hold” and a consensus target price of $70.36.

Dayforce Price Performance

Dayforce stock opened at $69.18 on Tuesday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $11.07 billion, a P/E ratio of -73.60, a PEG ratio of 2.76 and a beta of 1.18. The business has a 50-day moving average of $68.95 and a 200-day moving average of $64.89. Dayforce has a 1 year low of $48.01 and a 1 year high of $75.14.

Dayforce (NYSE:DAY) last released its quarterly earnings data on Wednesday, October 29th. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.19). The firm had revenue of $481.60 million for the quarter, compared to the consensus estimate of $481.22 million. Dayforce had a positive return on equity of 6.54% and a negative net margin of 7.91%.The firm’s revenue was up 9.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.47 EPS. On average, equities analysts anticipate that Dayforce will post 1.48 EPS for the current year.

Insider Buying and Selling at Dayforce

In related news, major shareholder Price T. Rowe Associates Inc /M sold 10,147 shares of the stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $68.74, for a total transaction of $697,504.78. Following the completion of the transaction, the insider directly owned 24,743,271 shares of the company’s stock, valued at approximately $1,700,852,448.54. This represents a 0.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Samer Alkharrat sold 3,233 shares of the firm’s stock in a transaction on Friday, October 24th. The shares were sold at an average price of $68.55, for a total transaction of $221,622.15. Following the completion of the transaction, the executive vice president directly owned 117,934 shares of the company’s stock, valued at $8,084,375.70. This represents a 2.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 70,947 shares of company stock worth $4,859,263. Company insiders own 4.50% of the company’s stock.

Institutional Trading of Dayforce

Institutional investors and hedge funds have recently bought and sold shares of the business. Greenland Capital Management LP bought a new position in Dayforce during the second quarter worth $3,264,000. Charles Schwab Investment Management Inc. raised its position in shares of Dayforce by 3.1% in the second quarter. Charles Schwab Investment Management Inc. now owns 1,506,214 shares of the company’s stock valued at $83,429,000 after purchasing an additional 45,623 shares during the period. Andra AP fonden lifted its stake in shares of Dayforce by 799.6% during the 2nd quarter. Andra AP fonden now owns 35,578 shares of the company’s stock worth $1,971,000 after buying an additional 31,623 shares during the last quarter. Future Fund LLC acquired a new stake in shares of Dayforce during the 2nd quarter worth about $928,000. Finally, Prudential Financial Inc. boosted its holdings in shares of Dayforce by 11.3% during the 2nd quarter. Prudential Financial Inc. now owns 93,342 shares of the company’s stock worth $5,170,000 after buying an additional 9,464 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. The company also provides payroll and payroll-related services; and implementation and professional services.