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

Shares of Dayforce Inc (NYSE:DAY) have been given a consensus rating of “Moderate Buy” by the fifteen ratings firms that are covering the firm, MarketBeat reports. Seven research analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $80.07.

A number of research firms have weighed in on DAY. KeyCorp increased their price target on shares of Dayforce from $80.00 to $92.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Citigroup reduced their target price on Dayforce from $90.00 to $83.00 and set a “buy” rating on the stock in a report on Thursday. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $80.00 price objective (down from $85.00) on shares of Dayforce in a research note on Wednesday, January 8th. Mizuho increased their target price 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. Finally, Piper Sandler reiterated an “overweight” rating and set a $94.00 price objective (up from $82.00) on shares of Dayforce in a research note on Wednesday, November 13th.

Dayforce Stock Down 0.9 %

DAY opened at $69.55 on Friday. Dayforce has a 12 month low of $47.08 and a 12 month high of $82.69. The business has a 50-day moving average of $75.52 and a two-hundred day moving average of $64.59. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.15 and a quick ratio of 1.15. The stock has a market capitalization of $10.97 billion, a price-to-earnings ratio of 210.77, a price-to-earnings-growth ratio of 2.61 and a beta of 1.26.

Insider Buying and Selling at Dayforce

In other news, COO Stephen H. Holdridge sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $77.00, for a total value of $77,000.00. Following the transaction, the chief operating officer now directly owns 122,022 shares in the company, valued at approximately $9,395,694. This trade represents a 0.81 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO David D. Ossip sold 858,697 shares of the firm’s stock in a transaction dated 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 transaction, 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 position. The disclosure for this sale can be found here. Insiders have sold 863,697 shares of company stock worth $68,672,436 in the last ninety days. 4.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Dayforce

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DAY. Financial Perspectives Inc acquired a new position in shares of Dayforce during the second quarter valued at $28,000. Quent Capital LLC acquired a new stake in shares of Dayforce in the 3rd quarter worth approximately $28,000. Sentry Investment Management LLC bought a new position in shares of Dayforce in the second quarter valued at approximately $33,000. Farther Finance Advisors LLC acquired a new position in shares of Dayforce during the third quarter valued at approximately $40,000. Finally, Quarry LP bought a new stake in Dayforce during the third quarter worth approximately $51,000.

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.