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

Shares of Dayforce Inc (NYSE:DAY) have been given a consensus recommendation of “Moderate Buy” by the fifteen research firms that are covering the company, Marketbeat Ratings reports. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $79.86.

Several equities analysts recently issued reports on DAY shares. Citigroup boosted their price objective on Dayforce from $75.00 to $81.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Scotiabank assumed coverage on shares of Dayforce in a research report on Monday, November 18th. They set a “sector perform” rating and a $75.00 price objective for the company. Piper Sandler reaffirmed an “overweight” rating and issued a $94.00 price objective (up from $82.00) on shares of Dayforce in a research report on Wednesday, November 13th. TD Cowen lifted their price target on Dayforce from $58.00 to $62.00 and gave the company a “hold” rating in a research note on Monday, October 7th. Finally, KeyCorp upped their price objective on Dayforce from $80.00 to $92.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th.

Dayforce Stock Performance

Shares of Dayforce stock opened at $74.84 on Tuesday. Dayforce has a 12 month low of $47.08 and a 12 month high of $82.69. 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 $11.80 billion, a PE ratio of 226.79, a PEG ratio of 3.68 and a beta of 1.26. The stock’s fifty day simple moving average is $74.48 and its 200 day simple moving average is $61.67.

Insiders Place Their Bets

In related news, insider Jeffrey Scott Jacobs sold 643 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $63.37, for a total transaction of $40,746.91. Following the transaction, the insider now directly owns 34,074 shares of the company’s stock, valued at approximately $2,159,269.38. The trade was a 1.85 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Stephen H. Holdridge sold 1,000 shares of the firm’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $63.37, for a total value of $63,370.00. Following the sale, the chief operating officer now directly owns 101,437 shares of the company’s stock, valued at $6,428,062.69. This represents a 0.98 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 865,340 shares of company stock valued at $68,770,223. 4.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Dayforce

Several large investors have recently modified their holdings of the stock. Quent Capital LLC acquired a new stake in Dayforce during the third quarter worth approximately $28,000. Financial Perspectives Inc bought a new position in Dayforce during the 2nd quarter worth $28,000. Farther Finance Advisors LLC acquired a new stake in Dayforce in the 3rd quarter worth about $40,000. Sentry Investment Management LLC bought a new stake in shares of Dayforce in the second quarter valued at approximately $33,000. Finally, Quarry LP bought a new stake in shares of Dayforce during the 3rd quarter valued at $51,000.

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.