Dayforce Inc (NYSE:DAY) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Dayforce Inc (NYSE:DAY) have been assigned a consensus recommendation of “Moderate Buy” from the fifteen research firms that are currently covering the firm, MarketBeat reports. Seven analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $78.64.

Several analysts have commented on the stock. Citigroup decreased their target price 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. Stifel Nicolaus decreased their target price on shares of Dayforce from $90.00 to $85.00 and set a “buy” rating for the company in a research report on Thursday, February 6th. KeyCorp boosted their target price on shares of Dayforce from $80.00 to $92.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Scotiabank decreased their price objective on shares of Dayforce from $75.00 to $72.00 and set a “sector perform” rating for the company in a report on Thursday, February 6th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $80.00 price objective (down from $85.00) on shares of Dayforce in a report on Wednesday, January 8th.

Dayforce Stock Up 0.5 %

Dayforce stock opened at $61.97 on Friday. The firm has a market cap of $9.77 billion, a PE ratio of 563.41, a P/E/G ratio of 2.49 and a beta of 1.26. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.15 and a current ratio of 1.13. The firm’s 50 day moving average price is $69.27 and its two-hundred day moving average price is $67.79. Dayforce has a twelve month low of $47.08 and a twelve month high of $82.69.

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

Insider Buying and Selling at Dayforce

In other Dayforce news, COO Stephen H. Holdridge sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $71.33, for a total value of $71,330.00. Following the completion of the sale, the chief operating officer now owns 119,022 shares in the company, valued at approximately $8,489,839.26. This trade represents a 0.83 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 4.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Capital International Investors boosted its stake in shares of Dayforce by 3.9% in the 4th quarter. Capital International Investors now owns 17,659,706 shares of the company’s stock valued at $1,282,800,000 after purchasing an additional 667,065 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Dayforce by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 17,319,275 shares of the company’s stock valued at $1,258,072,000 after purchasing an additional 197,773 shares during the last quarter. Capital World Investors boosted its stake in shares of Dayforce by 1.0% in the 4th quarter. Capital World Investors now owns 13,654,333 shares of the company’s stock valued at $991,851,000 after purchasing an additional 128,578 shares during the last quarter. EdgePoint Investment Group Inc. boosted its stake in shares of Dayforce by 1.1% in the 3rd quarter. EdgePoint Investment Group Inc. now owns 10,624,105 shares of the company’s stock valued at $650,726,000 after purchasing an additional 112,086 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its stake in shares of Dayforce by 1.9% in the 3rd quarter. Janus Henderson Group PLC now owns 5,669,154 shares of the company’s stock valued at $347,236,000 after purchasing an additional 103,794 shares during 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.