Dayforce (NYSE:DAY) Receives “Hold (C)” Rating from Weiss Ratings

Weiss Ratings restated their hold (c) rating on shares of Dayforce (NYSE:DAY) in a research note issued to investors on Thursday morning,Weiss Ratings reports.

Other equities analysts also recently issued research reports about the company. Wells Fargo & Company upgraded Dayforce from a “strong sell” rating to an “equal weight” rating and boosted their target price for the stock from $50.00 to $70.00 in a research note on Friday, August 22nd. Piper Sandler upgraded Dayforce to a “strong-buy” rating in a research note on Tuesday, August 19th. TD Cowen cut shares of Dayforce from a “buy” rating to a “hold” rating in a report on Thursday, August 21st. Stifel Nicolaus reaffirmed a “hold” rating and issued a $70.00 price target (down previously from $72.00) on shares of Dayforce in a report on Friday, September 19th. Finally, KeyCorp cut shares of Dayforce from an “overweight” rating to a “sector weight” rating in a report on Friday, August 22nd. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and fourteen have assigned a Hold rating to the company. According to data from MarketBeat, Dayforce presently has a consensus rating of “Hold” and a consensus price target of $70.36.

Dayforce Price Performance

Shares of NYSE DAY opened at $68.46 on Thursday. Dayforce has a twelve month low of $48.01 and a twelve month high of $82.69. The stock’s 50 day moving average price is $68.88 and its 200-day moving average price is $61.38. The company has a market capitalization of $10.93 billion, a PE ratio of -72.83, a PEG ratio of 2.52 and a beta of 1.17. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.23.

Dayforce (NYSE:DAY) last announced its earnings results on Wednesday, October 29th. The company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.19). Dayforce had a positive return on equity of 6.59% and a negative net margin of 7.91%.The business had revenue of $481.60 million during the quarter, compared to analysts’ expectations of $481.22 million. During the same quarter in the previous year, the firm earned $0.47 EPS. Dayforce’s quarterly revenue was up 9.5% on a year-over-year basis. On average, equities analysts anticipate that Dayforce will post 1.48 EPS for the current year.

Insider Buying and Selling at Dayforce

In other Dayforce news, major shareholder Price T. Rowe Associates Inc /M sold 2,977 shares of the business’s stock in a transaction on Friday, October 24th. The shares were sold at an average price of $68.50, for a total transaction of $203,924.50. Following the sale, the insider owned 24,789,870 shares of the company’s stock, valued at $1,698,106,095. The trade was a 0.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Stephen H. Holdridge sold 2,000 shares of the business’s stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $68.25, for a total transaction of $136,500.00. Following the sale, the chief operating officer directly owned 184,811 shares in the company, valued at $12,613,350.75. The trade was a 1.07% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 24,474 shares of company stock worth $1,676,470. 4.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Dayforce

Hedge funds and other institutional investors have recently bought and sold shares of the business. Principal Financial Group Inc. raised its holdings in Dayforce by 53.0% during the 1st quarter. Principal Financial Group Inc. now owns 273,055 shares of the company’s stock valued at $15,927,000 after acquiring an additional 94,635 shares during the period. Teacher Retirement System of Texas bought a new position in shares of Dayforce in the first quarter worth $1,282,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Dayforce by 13.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,585 shares of the company’s stock worth $1,259,000 after purchasing an additional 2,557 shares during the period. Amalgamated Bank grew its position in Dayforce by 2.2% in the first quarter. Amalgamated Bank now owns 30,966 shares of the company’s stock worth $1,806,000 after acquiring an additional 661 shares in the last quarter. Finally, UniSuper Management Pty Ltd grew its position in Dayforce by 26.0% in the first quarter. UniSuper Management Pty Ltd now owns 32,741 shares of the company’s stock worth $1,910,000 after acquiring an additional 6,763 shares in the last quarter.

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.