Brokerages Set Dayforce Inc (NYSE:DAY) PT at $78.77

Dayforce Inc (NYSE:DAY) has received a consensus rating of “Moderate Buy” from the fourteen brokerages that are covering the stock, Marketbeat reports. Six research analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $78.77.

A number of research firms recently weighed in on DAY. Deutsche Bank Aktiengesellschaft upped their price target on Dayforce from $70.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Needham & Company LLC upped their price target on Dayforce from $82.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Scotiabank began coverage on Dayforce in a report on Monday, November 18th. They issued a “sector perform” rating and a $75.00 price target for the company. KeyCorp upped their price target on Dayforce from $80.00 to $92.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Finally, Barclays boosted their price objective on Dayforce from $70.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 13th.

Dayforce Stock Performance

Shares of DAY stock opened at $79.79 on Friday. The stock has a market cap of $12.58 billion, a PE ratio of 241.80, a price-to-earnings-growth ratio of 3.70 and a beta of 1.27. The business has a 50-day simple moving average of $67.31 and a 200-day simple moving average of $58.81. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.47. Dayforce has a 52-week low of $47.08 and a 52-week high of $81.32.

Insiders Place Their Bets

In related news, insider Jeffrey Scott Jacobs sold 643 shares of Dayforce stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $63.37, for a total value of $40,746.91. Following the completion of the transaction, the insider now directly owns 34,074 shares in the company, valued at approximately $2,159,269.38. This trade represents a 1.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Stephen H. Holdridge sold 1,000 shares of Dayforce stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $76.26, for a total value of $76,260.00. Following the sale, the chief operating officer now directly owns 121,022 shares of the company’s stock, valued at $9,229,137.72. This trade represents a 0.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,643 shares of company stock valued at $460,877 over the last quarter. 4.90% of the stock is owned by insiders.

Institutional Trading of Dayforce

A number of hedge funds and other institutional investors have recently made changes to their positions in DAY. Select Equity Group L.P. acquired a new stake in shares of Dayforce during the second quarter worth about $721,310,000. EdgePoint Investment Group Inc. acquired a new stake in shares of Dayforce during the second quarter worth about $521,396,000. Dragoneer Investment Group LLC acquired a new stake in shares of Dayforce during the second quarter worth about $193,274,000. Dimensional Fund Advisors LP acquired a new position in Dayforce in the 2nd quarter valued at about $51,027,000. Finally, Cannae Holdings Inc. acquired a new position in Dayforce in the 2nd quarter valued at about $49,600,000.

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.