Analysts Set Dayforce Inc (NYSE:DAY) PT at $69.75

Shares of Dayforce Inc (NYSE:DAY) have received an average recommendation of “Moderate Buy” from the thirteen research firms that are presently covering the company, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $72.67.

Several analysts have recently issued reports on the stock. Piper Sandler boosted their price objective on shares of Dayforce from $71.00 to $82.00 and gave the company an “overweight” rating in a research note on Thursday. KeyCorp initiated coverage on shares of Dayforce in a research report on Tuesday, September 24th. They issued an “overweight” rating and a $70.00 price objective for the company. Citigroup upped their target price on shares of Dayforce from $75.00 to $81.00 and gave the company a “buy” rating in a research note on Thursday. Mizuho raised their price target on shares of Dayforce from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, Needham & Company LLC restated a “buy” rating and issued a $82.00 price target on shares of Dayforce in a research report on Thursday.

Dayforce Stock Up 6.0 %

DAY opened at $75.23 on Monday. Dayforce has a one year low of $47.08 and a one year high of $75.41. The business’s 50-day simple moving average is $61.11 and its 200-day simple moving average is $56.91. The stock has a market capitalization of $11.89 billion, a P/E ratio of 227.98, a price-to-earnings-growth ratio of 2.52 and a beta of 1.29. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.11 and a current ratio of 1.15.

Dayforce (NYSE:DAY) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.05. The firm had revenue of $423.30 million during the quarter, compared to the consensus estimate of $417.41 million. Dayforce had a return on equity of 6.69% and a net margin of 3.12%. Analysts anticipate that Dayforce will post 1.07 EPS for the current year.

Insider Activity at Dayforce

In other Dayforce news, COO Stephen H. Holdridge sold 2,000 shares of the stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $69.25, for a total value of $138,500.00. Following the completion of the sale, the chief operating officer now owns 98,437 shares in the company, valued at $6,816,762.25. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Jeffrey Scott Jacobs sold 643 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $63.37, for a total transaction of $40,746.91. Following the completion of the sale, the insider now owns 34,074 shares in the company, valued at approximately $2,159,269.38. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Stephen H. Holdridge sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $69.25, for a total transaction of $138,500.00. Following the sale, the chief operating officer now owns 98,437 shares of the company’s stock, valued at approximately $6,816,762.25. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,643 shares of company stock valued at $307,617. Corporate insiders own 4.90% of the company’s stock.

Institutional Trading of Dayforce

A number of hedge funds have recently modified their holdings of the stock. Quent Capital LLC bought a new position in Dayforce during the third quarter worth about $28,000. Financial Perspectives Inc acquired a new stake in Dayforce during the 2nd quarter worth approximately $28,000. Farther Finance Advisors LLC acquired a new position in shares of Dayforce in the 3rd quarter worth approximately $40,000. Sentry Investment Management LLC acquired a new position in shares of Dayforce in the 2nd quarter worth approximately $33,000. Finally, Livforsakringsbolaget Skandia Omsesidigt acquired a new position in shares of Dayforce in the 3rd quarter worth approximately $74,000.

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.