Insider Selling: Dayforce Inc (NYSE:DAY) COO Sells $65,000.00 in Stock

Dayforce Inc (NYSE:DAY) COO Stephen H. Holdridge sold 1,000 shares of the firm’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $65.00, for a total value of $65,000.00. Following the completion of the sale, the chief operating officer now directly owns 100,437 shares of the company’s stock, valued at $6,528,405. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Dayforce Price Performance

Dayforce stock opened at $65.06 on Friday. Dayforce Inc has a 52 week low of $47.08 and a 52 week high of $74.66. The business has a 50-day simple moving average of $59.53 and a 200 day simple moving average of $56.63. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.49. The stock has a market cap of $10.27 billion, a price-to-earnings ratio of 197.15, a PEG ratio of 2.23 and a beta of 1.29.

Dayforce (NYSE:DAY) last posted its earnings results on Wednesday, July 31st. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.18 by $0.05. Dayforce had a return on equity of 6.35% and a net margin of 2.89%. The business had revenue of $423.30 million during the quarter, compared to analysts’ expectations of $417.41 million. On average, research analysts forecast that Dayforce Inc will post 1.07 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Dayforce

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DAY. Bleakley Financial Group LLC lifted its stake in Dayforce by 9.9% during the third quarter. Bleakley Financial Group LLC now owns 4,867 shares of the company’s stock worth $298,000 after purchasing an additional 439 shares during the last quarter. Quent Capital LLC bought a new stake in Dayforce during the third quarter worth about $28,000. Financial Perspectives Inc bought a new stake in Dayforce during the second quarter worth about $28,000. Sentry Investment Management LLC bought a new stake in Dayforce during the second quarter worth about $33,000. Finally, IFM Investors Pty Ltd lifted its stake in Dayforce by 3.6% during the third quarter. IFM Investors Pty Ltd now owns 28,501 shares of the company’s stock worth $1,746,000 after purchasing an additional 997 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on DAY shares. TD Cowen raised their target price on Dayforce from $58.00 to $62.00 and gave the stock a “hold” rating in a research report on Monday, October 7th. Jefferies Financial Group raised their target price on Dayforce from $55.00 to $65.00 and gave the stock a “hold” rating in a research report on Tuesday. Needham & Company LLC reissued a “buy” rating and issued a $82.00 target price on shares of Dayforce in a research report on Wednesday, July 31st. Piper Sandler raised Dayforce from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $68.00 to $71.00 in a research report on Wednesday, July 31st. Finally, Mizuho lifted their price target on Dayforce from $70.00 to $80.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Five equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $69.75.

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.