Dayforce Inc (NYSE:DAY) Given Average Recommendation of “Moderate Buy” by Brokerages

Dayforce Inc (NYSE:DAY) has been given a consensus recommendation of “Moderate Buy” by the fifteen analysts that are currently covering the stock, Marketbeat reports. Seven analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $80.07.

DAY has been the subject of a number of recent analyst reports. 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. Citigroup lowered their price objective on shares of Dayforce from $90.00 to $83.00 and set a “buy” rating on the stock in a research report on Thursday. Stifel Nicolaus raised their price objective on shares of Dayforce from $82.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Piper Sandler reissued 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. Finally, Scotiabank initiated coverage on Dayforce in a research report on Monday, November 18th. They set a “sector perform” rating and a $75.00 target price for the company.

Dayforce Stock Down 0.9 %

Shares of Dayforce stock opened at $69.55 on Friday. Dayforce has a 12-month low of $47.08 and a 12-month high of $82.69. The firm has a market capitalization of $10.97 billion, a PE ratio of 210.77, a price-to-earnings-growth ratio of 2.61 and a beta of 1.26. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.47. The stock’s fifty day moving average is $75.52 and its 200-day moving average is $64.59.

Insider Buying and Selling

In related news, CEO David D. Ossip sold 858,697 shares of the firm’s stock in a transaction 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 sale, the chief executive officer now owns 794,527 shares of the company’s stock, valued at approximately $63,204,622.85. This trade represents a 51.94 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Stephen H. Holdridge sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $77.00, for a total transaction of $77,000.00. Following the sale, the chief operating officer now owns 122,022 shares in the company, valued at $9,395,694. This trade represents a 0.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 863,697 shares of company stock worth $68,672,436 over the last three months. 4.90% of the stock is currently owned by company insiders.

Institutional Trading of Dayforce

Several hedge funds and other institutional investors have recently modified their holdings of the company. Bleakley Financial Group LLC grew its position in Dayforce by 9.9% in the third quarter. Bleakley Financial Group LLC now owns 4,867 shares of the company’s stock valued at $298,000 after purchasing an additional 439 shares in the last quarter. Quent Capital LLC acquired a new position in shares of Dayforce during the 3rd quarter worth approximately $28,000. Financial Perspectives Inc bought a new stake in shares of Dayforce during the 2nd quarter worth approximately $28,000. HighTower Advisors LLC increased its holdings in Dayforce by 11.0% during the third quarter. HighTower Advisors LLC now owns 6,083 shares of the company’s stock worth $368,000 after buying an additional 602 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D raised its holdings in shares of Dayforce by 1.1% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 56,294 shares of the company’s stock valued at $3,448,000 after purchasing an additional 640 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.