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

Dayforce Inc (NYSE:DAY) has been given a consensus recommendation of “Moderate Buy” by the fifteen analysts that are currently covering the company, Marketbeat.com reports. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $79.93.

A number of analysts have commented on the stock. Needham & Company LLC boosted their price target on shares of Dayforce from $82.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. KeyCorp boosted their target price on shares of Dayforce from $80.00 to $92.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Piper Sandler reaffirmed an “overweight” rating and issued a $94.00 price target (up previously from $82.00) on shares of Dayforce in a research report on Wednesday, November 13th. Jefferies Financial Group boosted their price objective on Dayforce from $55.00 to $65.00 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $80.00 target price (down previously from $85.00) on shares of Dayforce in a report on Wednesday, January 8th.

Insider Activity

In related news, COO Stephen H. Holdridge sold 1,000 shares of the stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $65.00, for a total transaction of $65,000.00. Following the completion of the transaction, the chief operating officer now owns 100,437 shares in the company, valued at approximately $6,528,405. This represents a 0.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David D. Ossip sold 858,697 shares of Dayforce 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 sale, the chief executive officer now directly owns 794,527 shares in the company, valued at approximately $63,204,622.85. This represents a 51.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 863,697 shares of company stock valued at $68,666,106 in the last ninety days. 4.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Dayforce

Institutional investors and hedge funds have recently bought and sold shares of the company. Retireful LLC purchased a new stake in Dayforce in the 4th quarter worth about $1,636,000. USA Financial Formulas purchased a new stake in Dayforce during the 4th quarter worth about $224,000. Assenagon Asset Management S.A. boosted its stake in Dayforce by 7.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 41,842 shares of the company’s stock worth $3,039,000 after purchasing an additional 2,893 shares during the period. Friedenthal Financial purchased a new position in Dayforce during the 4th quarter valued at about $824,000. Finally, Czech National Bank increased its position in shares of Dayforce by 6.2% during the fourth quarter. Czech National Bank now owns 34,193 shares of the company’s stock valued at $2,484,000 after buying an additional 1,987 shares during the period.

Dayforce Trading Down 0.4 %

Shares of Dayforce stock opened at $70.24 on Friday. The stock has a market capitalization of $11.08 billion, a PE ratio of 212.85, a price-to-earnings-growth ratio of 3.68 and a beta of 1.26. Dayforce has a 52 week low of $47.08 and a 52 week high of $82.69. The stock has a 50 day moving average price of $75.96 and a two-hundred day moving average price of $64.42. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.15 and a current ratio of 1.15.

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.