Dayforce Inc (NYSE:DAY) Receives $77.86 Average PT from Analysts

Shares of Dayforce Inc (NYSE:DAY) have been assigned an average rating of “Moderate Buy” from the sixteen brokerages that are covering the company, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $77.86.

Several equities analysts have recently commented on the stock. Scotiabank lowered their price target on shares of Dayforce from $72.00 to $55.00 and set a “sector perform” rating on the stock in a report on Monday, March 17th. Needham & Company LLC restated a “buy” rating and issued a $95.00 target price on shares of Dayforce in a research note on Thursday, February 6th. Jefferies Financial Group cut their price target on Dayforce from $80.00 to $75.00 and set a “hold” rating for the company in a research note on Thursday, February 6th. TD Cowen raised Dayforce from a “hold” rating to a “buy” rating and boosted their price target for the company from $67.00 to $68.00 in a research note on Friday, March 7th. Finally, Cowen raised shares of Dayforce from a “hold” rating to a “buy” rating in a research report on Friday, March 7th.

Insider Buying and Selling

In related news, COO Stephen H. Holdridge sold 1,000 shares of the business’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $71.33, for a total transaction of $71,330.00. Following the completion of the transaction, the chief operating officer now owns 119,022 shares of the company’s stock, valued at approximately $8,489,839.26. The trade was a 0.83 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Dayforce

Hedge funds and other institutional investors have recently modified their holdings of the stock. Quarry LP acquired a new position in Dayforce in the 3rd quarter valued at approximately $51,000. Harvest Fund Management Co. Ltd acquired a new position in Dayforce during the fourth quarter worth $61,000. Federated Hermes Inc. acquired a new stake in shares of Dayforce in the 4th quarter valued at $72,000. AlphaQuest LLC grew its holdings in shares of Dayforce by 14,800.0% in the 4th quarter. AlphaQuest LLC now owns 1,043 shares of the company’s stock worth $76,000 after purchasing an additional 1,036 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its position in shares of Dayforce by 69.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,227 shares of the company’s stock worth $89,000 after purchasing an additional 501 shares in the last quarter.

Dayforce Trading Up 1.7 %

Shares of NYSE DAY opened at $59.36 on Thursday. The company has a current ratio of 1.13, a quick ratio of 1.15 and a debt-to-equity ratio of 0.47. Dayforce has a one year low of $47.08 and a one year high of $82.69. The business has a 50-day moving average price of $62.63 and a two-hundred day moving average price of $67.91. The firm has a market capitalization of $9.39 billion, a PE ratio of 539.69, a PEG ratio of 2.49 and a beta of 1.33.

Dayforce (NYSE:DAY) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.09). Dayforce had a return on equity of 6.49% and a net margin of 1.03%. As a group, analysts predict that Dayforce will post 1.48 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.