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

Shares of Dayforce Inc (NYSE:DAY) have been given an average rating of “Moderate Buy” by the fifteen analysts that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and ten have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $70.86.

A number of research analysts recently weighed in on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $95.00 price objective on shares of Dayforce in a research note on Thursday, May 8th. Citigroup lifted their price objective on shares of Dayforce from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, May 8th. Wells Fargo & Company lowered shares of Dayforce from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $60.00 to $50.00 in a research note on Friday. BMO Capital Markets reiterated an “outperform” rating on shares of Dayforce in a research note on Tuesday. Finally, KeyCorp cut their price target on shares of Dayforce from $80.00 to $65.00 and set an “overweight” rating for the company in a report on Tuesday, April 22nd.

Insiders Place Their Bets

In other Dayforce news, EVP William Everett Mcdonald sold 2,000 shares of the company’s stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $56.16, for a total value of $112,320.00. Following the sale, the executive vice president now owns 105,691 shares in the company, valued at approximately $5,935,606.56. This represents a 1.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Samer Alkharrat sold 1,916 shares of the stock in a transaction that occurred on Friday, April 25th. The shares were sold at an average price of $56.64, for a total transaction of $108,522.24. Following the transaction, the executive vice president now owns 150,237 shares in the company, valued at approximately $8,509,423.68. This trade represents a 1.26% decrease in their position. The disclosure for this sale can be found here. 4.50% of the stock is currently owned by insiders.

Institutional Trading of Dayforce

Several hedge funds have recently bought and sold shares of the stock. Xponance Inc. lifted its position in shares of Dayforce by 0.8% in the first quarter. Xponance Inc. now owns 22,673 shares of the company’s stock valued at $1,323,000 after acquiring an additional 179 shares in the last quarter. Metis Global Partners LLC lifted its position in shares of Dayforce by 3.8% in the fourth quarter. Metis Global Partners LLC now owns 5,261 shares of the company’s stock valued at $382,000 after acquiring an additional 193 shares in the last quarter. Covestor Ltd lifted its position in shares of Dayforce by 15.6% in the first quarter. Covestor Ltd now owns 1,430 shares of the company’s stock worth $83,000 after buying an additional 193 shares in the last quarter. HighTower Advisors LLC lifted its position in shares of Dayforce by 3.5% in the first quarter. HighTower Advisors LLC now owns 5,931 shares of the company’s stock worth $346,000 after buying an additional 203 shares in the last quarter. Finally, Stifel Financial Corp increased its stake in Dayforce by 4.1% during the fourth quarter. Stifel Financial Corp now owns 5,206 shares of the company’s stock worth $378,000 after acquiring an additional 205 shares during the last quarter.

Dayforce Trading Down 4.4%

Shares of DAY stock opened at $56.97 on Tuesday. The company has a 50 day moving average of $57.41 and a 200-day moving average of $63.77. The company has a quick ratio of 1.15, a current ratio of 1.13 and a debt-to-equity ratio of 0.47. Dayforce has a 12-month low of $47.08 and a 12-month high of $82.69. The firm has a market cap of $9.11 billion, a P/E ratio of 517.96, a PEG ratio of 2.49 and a beta of 1.12.

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.