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

Dayforce Inc (NYSE:DAY) has received a consensus rating of “Moderate Buy” from the sixteen research firms that are currently covering the firm, MarketBeat reports. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $77.86.

DAY has been the topic of several analyst reports. Scotiabank dropped their price target on shares of Dayforce from $72.00 to $55.00 and set a “sector perform” rating on the stock in a research note on Monday, March 17th. Piper Sandler reaffirmed an “overweight” rating and set a $83.00 target price (down previously from $94.00) on shares of Dayforce in a research note on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $80.00 price target (down previously from $85.00) on shares of Dayforce in a research report on Wednesday, January 8th. TD Cowen raised Dayforce from a “hold” rating to a “buy” rating and raised their price target for the company from $67.00 to $68.00 in a report on Friday, March 7th. Finally, Jefferies Financial Group decreased their target price on shares of Dayforce from $80.00 to $75.00 and set a “hold” rating for the company in a research report on Thursday, February 6th.

Dayforce Trading Up 1.7 %

NYSE:DAY opened at $59.36 on Thursday. The firm has a market capitalization of $9.39 billion, a P/E ratio of 539.69, a P/E/G ratio of 2.49 and a beta of 1.33. The business has a 50 day simple moving average of $62.63 and a 200 day simple moving average of $67.91. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.13 and a quick ratio of 1.15. Dayforce has a 12-month low of $47.08 and a 12-month high of $82.69.

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

Insider Activity at Dayforce

In other Dayforce news, COO Stephen H. Holdridge sold 1,000 shares of the company’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $71.33, for a total value of $71,330.00. Following the transaction, the chief operating officer now owns 119,022 shares of the company’s stock, valued at approximately $8,489,839.26. This represents a 0.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 4.50% of the company’s stock.

Hedge Funds Weigh In On Dayforce

A number of hedge funds have recently modified their holdings of DAY. Capital International Investors boosted its position in shares of Dayforce by 3.9% in the 4th quarter. Capital International Investors now owns 17,659,706 shares of the company’s stock valued at $1,282,800,000 after purchasing an additional 667,065 shares during the period. Vanguard Group Inc. lifted its stake in Dayforce by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 17,319,275 shares of the company’s stock valued at $1,258,072,000 after buying an additional 197,773 shares in the last quarter. Capital World Investors boosted its holdings in shares of Dayforce by 1.0% in the fourth quarter. Capital World Investors now owns 13,654,333 shares of the company’s stock worth $991,851,000 after buying an additional 128,578 shares during the period. EdgePoint Investment Group Inc. increased its position in shares of Dayforce by 1.1% in the third quarter. EdgePoint Investment Group Inc. now owns 10,624,105 shares of the company’s stock worth $650,726,000 after acquiring an additional 112,086 shares in the last quarter. Finally, Janus Henderson Group PLC raised its holdings in shares of Dayforce by 1.9% during the third quarter. Janus Henderson Group PLC now owns 5,669,154 shares of the company’s stock valued at $347,236,000 after acquiring an additional 103,794 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.