Analysts Set Dayforce, Inc. (NYSE:DAY) Price Target at $70.36

Dayforce, Inc. (NYSE:DAY) has earned an average recommendation of “Hold” from the eighteen brokerages that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, fourteen have given a hold recommendation, two have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $70.3571.

Several research firms recently commented on DAY. Zacks Research downgraded shares of Dayforce from a “hold” rating to a “strong sell” rating in a research note on Wednesday, November 5th. Piper Sandler upgraded shares of Dayforce to a “strong-buy” rating in a research report on Tuesday, August 19th. William Blair downgraded shares of Dayforce from an “outperform” rating to a “hold” rating in a research report on Wednesday, August 20th. Weiss Ratings reissued a “hold (c)” rating on shares of Dayforce in a research report on Thursday, October 30th. Finally, BMO Capital Markets restated a “market perform” rating and set a $70.00 price objective (up previously from $67.00) on shares of Dayforce in a research note on Friday, August 22nd.

Dayforce Price Performance

Shares of NYSE DAY opened at $68.38 on Friday. The firm has a market cap of $10.94 billion, a P/E ratio of -72.74, a price-to-earnings-growth ratio of 2.64 and a beta of 1.20. The business’s 50 day moving average is $68.76 and its 200-day moving average is $62.06. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.23. Dayforce has a 1-year low of $48.01 and a 1-year high of $82.69.

Dayforce (NYSE:DAY) last released its quarterly earnings results on Wednesday, October 29th. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.19). The firm had revenue of $481.60 million during the quarter, compared to the consensus estimate of $481.22 million. Dayforce had a negative net margin of 7.91% and a positive return on equity of 6.54%. The business’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.47 earnings per share. Equities research analysts predict that Dayforce will post 1.48 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP William Everett Mcdonald sold 1,912 shares of the business’s stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $68.25, for a total value of $130,494.00. Following the completion of the transaction, the executive vice president owned 101,772 shares of the company’s stock, valued at $6,945,939. The trade was a 1.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Samer Alkharrat sold 3,233 shares of the company’s stock in a transaction dated Friday, October 24th. The stock was sold at an average price of $68.55, for a total transaction of $221,622.15. Following the sale, the executive vice president directly owned 117,934 shares of the company’s stock, valued at $8,084,375.70. This represents a 2.67% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 74,179 shares of company stock worth $5,081,720 over the last three months. Company insiders own 4.50% of the company’s stock.

Institutional Trading of Dayforce

Large investors have recently made changes to their positions in the company. Alberta Investment Management Corp bought a new position in Dayforce in the third quarter valued at approximately $4,822,000. NEOS Investment Management LLC increased its stake in shares of Dayforce by 48.4% in the 3rd quarter. NEOS Investment Management LLC now owns 13,528 shares of the company’s stock valued at $932,000 after purchasing an additional 4,413 shares during the last quarter. Skandinaviska Enskilda Banken AB publ increased its stake in shares of Dayforce by 5,830.2% in the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 35,107 shares of the company’s stock valued at $2,419,000 after purchasing an additional 34,515 shares during the last quarter. Credit Industriel ET Commercial acquired a new position in shares of Dayforce during the 3rd quarter worth $4,960,000. Finally, State of New Jersey Common Pension Fund D lifted its position in shares of Dayforce by 8.1% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 56,452 shares of the company’s stock worth $3,889,000 after buying an additional 4,243 shares during the last quarter.

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.