Dayforce, Inc. (NYSE:DAY) Receives Average Recommendation of “Hold” from Analysts

Shares of Dayforce, Inc. (NYSE:DAY) have earned a consensus rating of “Hold” from the eighteen ratings firms that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, fifteen have given a hold recommendation, one has issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $70.3571.

DAY has been the subject of a number of research reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Dayforce in a report on Monday, December 29th. Zacks Research upgraded shares of Dayforce from a “strong sell” rating to a “hold” rating in a research report on Tuesday, December 30th. UBS Group downgraded shares of Dayforce from a “strong-buy” rating to a “hold” rating in a research report on Saturday, November 15th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Dayforce in a report on Thursday, October 30th.

Dayforce Stock Down 0.2%

Shares of Dayforce stock opened at $69.06 on Wednesday. The business has a 50-day moving average price of $69.16 and a 200 day moving average price of $66.19. Dayforce has a fifty-two week low of $48.01 and a fifty-two week high of $75.14. The firm has a market cap of $11.05 billion, a P/E ratio of -73.46, a P/E/G ratio of 2.11 and a beta of 1.18. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.23.

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

Insider Buying and Selling

In related news, COO Stephen H. Holdridge sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $68.87, for a total transaction of $137,740.00. Following the completion of the transaction, the chief operating officer owned 178,814 shares in the company, valued at $12,314,920.18. The trade was a 1.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Price T. Rowe Associates Inc /M sold 10,147 shares of the company’s stock in a transaction on Friday, October 31st. The stock was sold at an average price of $68.74, for a total value of $697,504.78. Following the transaction, the insider owned 24,743,271 shares of the company’s stock, valued at approximately $1,700,852,448.54. The trade was a 0.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 59,459 shares of company stock valued at $4,074,315. Insiders own 4.50% of the company’s stock.

Institutional Trading of Dayforce

Several hedge funds have recently added to or reduced their stakes in DAY. Tema Etfs LLC bought a new position in shares of Dayforce in the fourth quarter worth $141,000. Nisa Investment Advisors LLC raised its stake in shares of Dayforce by 2.4% during the fourth quarter. Nisa Investment Advisors LLC now owns 9,121 shares of the company’s stock valued at $631,000 after purchasing an additional 217 shares in the last quarter. Pallas Capital Advisors LLC acquired a new stake in Dayforce in the fourth quarter worth about $414,000. Syquant Capital Sas bought a new position in Dayforce in the 4th quarter valued at about $159,465,000. Finally, Czech National Bank increased its stake in Dayforce by 4.0% during the 4th quarter. Czech National Bank now owns 42,198 shares of the company’s stock valued at $2,918,000 after buying an additional 1,639 shares during the period.

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. The company also provides payroll and payroll-related services; and implementation and professional services.