Dayforce Inc (NYSE:DAY) Given Consensus Rating of “Moderate Buy” by Analysts

Dayforce Inc (NYSE:DAY) has received a consensus rating of “Moderate Buy” from the fourteen ratings firms that are covering the company, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $79.08.

A number of research firms have commented on DAY. Piper Sandler reiterated an “overweight” rating and set a $94.00 target price (up from $82.00) on shares of Dayforce in a research report on Wednesday, November 13th. Mizuho boosted their price objective on shares of Dayforce from $85.00 to $95.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Scotiabank began coverage on shares of Dayforce in a report on Monday, November 18th. They set a “sector perform” rating and a $75.00 target price for the company. KeyCorp upped their price target on shares of Dayforce from $80.00 to $92.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Finally, Jefferies Financial Group raised their price objective on shares of Dayforce from $55.00 to $65.00 and gave the stock a “hold” rating in a research note on Tuesday, October 22nd.

Dayforce Stock Performance

DAY opened at $77.34 on Tuesday. Dayforce has a 1-year low of $47.08 and a 1-year high of $82.69. The stock has a market cap of $12.20 billion, a P/E ratio of 234.36, a P/E/G ratio of 3.68 and a beta of 1.26. The stock’s 50 day simple moving average is $73.09 and its 200 day simple moving average is $60.85. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.15 and a quick ratio of 1.15.

Insiders Place Their Bets

In other news, insider Jeffrey Scott Jacobs sold 643 shares of the stock in a transaction dated Tuesday, October 15th. The shares were 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 in the company, valued at $2,159,269.38. This represents a 1.85 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO David D. Ossip sold 858,697 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $79.55, for a total transaction of $68,309,346.35. Following the completion of the sale, the chief executive officer now directly owns 794,527 shares in the company, valued at $63,204,622.85. This represents a 51.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 865,340 shares of company stock valued at $68,770,223. Company insiders own 4.90% of the company’s stock.

Hedge Funds Weigh In On Dayforce

Large investors have recently bought and sold shares of the stock. Select Equity Group L.P. purchased a new stake in shares of Dayforce during the 2nd quarter valued at $721,310,000. EdgePoint Investment Group Inc. purchased a new stake in Dayforce during the second quarter valued at about $521,396,000. Dragoneer Investment Group LLC purchased a new stake in Dayforce during the second quarter valued at about $193,274,000. Dimensional Fund Advisors LP acquired a new stake in Dayforce during the second quarter worth about $51,027,000. Finally, Cannae Holdings Inc. purchased a new position in shares of Dayforce in the 2nd quarter worth about $49,600,000.

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.