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

Shares of Dayforce Inc (NYSE:DAY) have been assigned a consensus rating of “Moderate Buy” from the fifteen research firms that are covering the company, MarketBeat.com reports. Seven equities research 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 brokers that have issued ratings on the stock in the last year is $80.07.

A number of research analysts recently commented on DAY shares. Stifel Nicolaus upped their price objective on Dayforce from $82.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Scotiabank assumed coverage on Dayforce in a research note on Monday, November 18th. They issued a “sector perform” rating and a $75.00 price target on the stock. Needham & Company LLC increased 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. BMO Capital Markets boosted their price objective on shares of Dayforce from $80.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $94.00 target price (up previously from $82.00) on shares of Dayforce in a research note on Wednesday, November 13th.

Insider Buying and Selling

In other news, COO Stephen H. Holdridge sold 1,000 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $76.26, for a total transaction of $76,260.00. Following the completion of the transaction, the chief operating officer now directly owns 121,022 shares of the company’s stock, valued at approximately $9,229,137.72. The trade was a 0.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO David D. Ossip sold 858,697 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $79.55, for a total transaction of $68,309,346.35. Following the sale, the chief executive officer now owns 794,527 shares in the company, valued at $63,204,622.85. The trade was a 51.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 860,697 shares of company stock valued at $68,456,936 in the last ninety days. Company insiders own 4.90% of the company’s stock.

Institutional Investors Weigh In On Dayforce

Institutional investors have recently modified their holdings of the company. New York State Common Retirement Fund purchased a new position in Dayforce in the third quarter valued at approximately $20,942,000. Sumitomo Mitsui Trust Group Inc. acquired a new position in shares of Dayforce in the 3rd quarter valued at $19,273,000. Principal Financial Group Inc. purchased a new position in shares of Dayforce in the 3rd quarter valued at $11,135,000. EdgePoint Investment Group Inc. raised its stake in Dayforce by 1.1% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 10,624,105 shares of the company’s stock worth $650,726,000 after acquiring an additional 112,086 shares in the last quarter. Finally, New York State Teachers Retirement System purchased a new stake in Dayforce in the third quarter valued at $6,639,000.

Dayforce Stock Performance

NYSE:DAY opened at $71.80 on Wednesday. The company’s 50-day moving average is $74.07 and its two-hundred day moving average is $66.26. Dayforce has a 1-year low of $47.08 and a 1-year high of $82.69. 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 market capitalization of $11.32 billion, a price-to-earnings ratio of 217.57, a PEG ratio of 2.59 and a beta of 1.26.

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.