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

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

Several equities analysts have recently issued reports on the stock. Piper Sandler reiterated an “overweight” rating and set a $94.00 target price (up from $82.00) on shares of Dayforce in a report on Wednesday, November 13th. BMO Capital Markets raised their price objective on Dayforce from $80.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Citigroup boosted their target price on Dayforce from $75.00 to $81.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Mizuho raised their price target on Dayforce from $85.00 to $95.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Finally, KeyCorp lifted their price target on Dayforce from $80.00 to $92.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th.

Insider Activity

In other news, insider Jeffrey Scott Jacobs sold 643 shares of the stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $63.37, for a total value of $40,746.91. Following the transaction, the insider now owns 34,074 shares in the company, valued at $2,159,269.38. This represents a 1.85 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Stephen H. Holdridge sold 1,000 shares of the stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $65.00, for a total transaction of $65,000.00. Following the completion of the transaction, the chief operating officer now owns 100,437 shares in the company, valued at $6,528,405. The trade was a 0.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,643 shares of company stock valued at $460,877 in the last 90 days. 4.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Dayforce

Several large investors have recently added to or reduced their stakes in DAY. Bleakley Financial Group LLC boosted its stake in shares of Dayforce by 9.9% in the third quarter. Bleakley Financial Group LLC now owns 4,867 shares of the company’s stock worth $298,000 after acquiring an additional 439 shares during the period. Quent Capital LLC purchased a new position in Dayforce in the 3rd quarter worth approximately $28,000. Financial Perspectives Inc bought a new position in Dayforce in the 2nd quarter worth approximately $28,000. HighTower Advisors LLC grew its holdings in Dayforce by 11.0% during the 3rd quarter. HighTower Advisors LLC now owns 6,083 shares of the company’s stock valued at $368,000 after buying an additional 602 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D raised its position in shares of Dayforce by 1.1% during the third quarter. State of New Jersey Common Pension Fund D now owns 56,294 shares of the company’s stock valued at $3,448,000 after buying an additional 640 shares during the last quarter.

Dayforce Trading Up 3.3 %

Shares of NYSE DAY opened at $78.43 on Friday. Dayforce has a 1 year low of $47.08 and a 1 year high of $81.32. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.15 and a quick ratio of 1.15. The firm has a 50-day moving average of $66.51 and a 200 day moving average of $58.52. The stock has a market cap of $12.37 billion, a P/E ratio of 237.67, a price-to-earnings-growth ratio of 3.51 and a beta of 1.27.

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.