Brokerages Set Dayforce Inc (NYSE:DAY) Target Price at $77.86

Dayforce Inc (NYSE:DAY) has earned a consensus rating of “Moderate Buy” from the sixteen ratings firms that are presently covering the company, MarketBeat.com reports. Six investment analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $77.86.

DAY has been the subject of a number of recent analyst reports. Citigroup dropped their price target on shares of Dayforce from $90.00 to $83.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. TD Cowen upgraded shares of Dayforce from a “hold” rating to a “buy” rating and lifted their target price for the company from $67.00 to $68.00 in a report on Friday, March 7th. Piper Sandler restated an “overweight” rating and set a $83.00 price target (down from $94.00) on shares of Dayforce in a research note on Wednesday, February 5th. Stifel Nicolaus lowered their price target on Dayforce from $90.00 to $85.00 and set a “buy” rating for the company in a research report on Thursday, February 6th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $95.00 price objective on shares of Dayforce in a report on Thursday, February 6th.

Insider Buying and Selling at Dayforce

In other news, COO Stephen H. Holdridge sold 1,000 shares of Dayforce stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $71.33, for a total transaction of $71,330.00. Following the completion of the sale, the chief operating officer now directly owns 119,022 shares of the company’s stock, valued at approximately $8,489,839.26. The trade was a 0.83 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 4.50% of the company’s stock.

Institutional Trading of Dayforce

A number of institutional investors have recently bought and sold shares of DAY. Quarry LP purchased a new position in shares of Dayforce in the 3rd quarter valued at about $51,000. Harvest Fund Management Co. Ltd acquired a new position in Dayforce in the fourth quarter valued at approximately $61,000. Federated Hermes Inc. purchased a new position in Dayforce in the fourth quarter valued at approximately $72,000. AlphaQuest LLC raised its holdings in Dayforce by 14,800.0% during the fourth quarter. AlphaQuest LLC now owns 1,043 shares of the company’s stock worth $76,000 after purchasing an additional 1,036 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its position in shares of Dayforce by 69.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,227 shares of the company’s stock worth $89,000 after buying an additional 501 shares during the last quarter.

Dayforce Price Performance

DAY stock opened at $58.31 on Thursday. Dayforce has a 52-week low of $47.08 and a 52-week high of $82.69. The company has a quick ratio of 1.15, a current ratio of 1.13 and a debt-to-equity ratio of 0.47. The stock has a market cap of $9.23 billion, a price-to-earnings ratio of 530.15, a price-to-earnings-growth ratio of 2.49 and a beta of 1.33. The business has a fifty day moving average of $63.29 and a two-hundred day moving average of $67.91.

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

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.