Analysts Set Dayforce Inc (NYSE:DAY) Price Target at $69.75

Dayforce Inc (NYSE:DAY) has received an average rating of “Moderate Buy” from the thirteen ratings firms that are covering the stock, MarketBeat Ratings reports. Five analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $69.75.

A number of analysts have recently weighed in on DAY shares. Jefferies Financial Group upped their price target on shares of Dayforce from $55.00 to $65.00 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. Mizuho raised their target price on shares of Dayforce from $70.00 to $80.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Citigroup increased their price target on Dayforce from $74.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. TD Cowen raised their price objective on Dayforce from $58.00 to $62.00 and gave the company a “hold” rating in a report on Monday, October 7th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Dayforce from $70.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, August 1st.

Insider Buying and Selling

In other news, insider Jeffrey Scott Jacobs sold 643 shares of the stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $63.37, for a total transaction of $40,746.91. Following the completion of the sale, the insider now directly owns 34,074 shares in the company, valued at $2,159,269.38. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, COO Stephen H. Holdridge sold 1,000 shares of Dayforce stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $65.00, for a total value of $65,000.00. Following the completion of the transaction, the chief operating officer now directly owns 100,437 shares of the company’s stock, valued at approximately $6,528,405. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jeffrey Scott Jacobs sold 643 shares of Dayforce 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 of the company’s stock, valued at approximately $2,159,269.38. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,643 shares of company stock valued at $169,117 over the last ninety days. 4.90% of the stock is owned by company insiders.

Institutional Trading of Dayforce

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Financial Perspectives Inc acquired a new position in shares of Dayforce during the second quarter valued at about $28,000. Quent Capital LLC bought a new position in Dayforce in the 3rd quarter valued at about $28,000. Sentry Investment Management LLC acquired a new position in Dayforce during the 2nd quarter valued at about $33,000. Farther Finance Advisors LLC bought a new stake in Dayforce during the 3rd quarter worth approximately $40,000. Finally, Benjamin F. Edwards & Company Inc. purchased a new stake in shares of Dayforce in the second quarter worth approximately $62,000.

Dayforce Stock Performance

Shares of Dayforce stock opened at $70.09 on Monday. The company has a 50 day moving average of $60.43 and a 200-day moving average of $56.70. Dayforce has a 1-year low of $47.08 and a 1-year high of $74.66. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49. The company has a market cap of $11.08 billion, a PE ratio of 233.63, a price-to-earnings-growth ratio of 2.23 and a beta of 1.29.

Dayforce (NYSE:DAY) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.05. Dayforce had a net margin of 2.89% and a return on equity of 6.35%. The company had revenue of $423.30 million during the quarter, compared to the consensus estimate of $417.41 million. As a group, equities research analysts forecast that Dayforce will post 1.07 earnings per share for the current fiscal year.

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.