Dayforce, Inc. (NYSE:DAY) Receives $70.36 Consensus PT from Analysts

by · The Cerbat Gem

Dayforce, Inc. (NYSE:DAY – Get Free Report) has been assigned an average recommendation of “Hold” from the eighteen research firms that are currently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, fourteen have issued a hold recommendation, one has assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $70.3571.

A number of research analysts have weighed in on DAY shares. Stifel Nicolaus reaffirmed a “hold” rating and issued a $70.00 price objective (down previously from $72.00) on shares of Dayforce in a report on Friday, September 19th. UBS Group lowered Dayforce from a “strong-buy” rating to a “hold” rating in a research note on Saturday, November 15th. Needham & Company LLC reiterated a “hold” rating on shares of Dayforce in a research report on Thursday, October 30th. Zacks Research lowered Dayforce from a “hold” rating to a “strong sell” rating in a report on Wednesday, November 5th. Finally, Citigroup downgraded Dayforce from a “buy” rating to a “neutral” rating and set a $70.00 target price for the company. in a research note on Wednesday, September 17th.

View Our Latest Stock Report on Dayforce

Insider Activity at Dayforce

In other news, major shareholder Price T. Rowe Associates Inc /M sold 10,147 shares of the business’s stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $68.74, for a total transaction of $697,504.78. Following the completion of the sale, the insider owned 24,743,271 shares of the company’s stock, valued at $1,700,852,448.54. The trade was a 0.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Samer Alkharrat sold 3,233 shares of the company’s stock in a transaction dated Friday, October 24th. The stock was sold at an average price of $68.55, for a total transaction of $221,622.15. Following the transaction, the executive vice president owned 117,934 shares of the company’s stock, valued at approximately $8,084,375.70. This trade represents a 2.67% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 70,947 shares of company stock worth $4,859,263 in the last quarter. 4.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Dayforce

Several large investors have recently bought and sold shares of the company. HighTower Advisors LLC raised its holdings in shares of Dayforce by 3.5% during the first quarter. HighTower Advisors LLC now owns 5,931 shares of the company’s stock valued at $346,000 after acquiring an additional 203 shares during the last quarter. Comerica Bank increased its position in shares of Dayforce by 17.8% during the first quarter. Comerica Bank now owns 87,251 shares of the company’s stock worth $5,089,000 after purchasing an additional 13,186 shares in the last quarter. FORA Capital LLC acquired a new position in Dayforce in the 1st quarter valued at $555,000. Trexquant Investment LP acquired a new position in Dayforce in the 1st quarter valued at $1,452,000. Finally, PDT Partners LLC lifted its holdings in Dayforce by 275.8% in the 1st quarter. PDT Partners LLC now owns 51,113 shares of the company’s stock valued at $2,981,000 after purchasing an additional 37,513 shares in the last quarter.

Dayforce Trading Up 0.1%

Shares of NYSE:DAY opened at $69.20 on Friday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.23. Dayforce has a 12-month low of $48.01 and a 12-month high of $75.14. The business has a 50 day moving average of $68.91 and a two-hundred day moving average of $64.74. The company has a market capitalization of $11.07 billion, a PE ratio of -73.62, a PEG ratio of 2.76 and a beta of 1.20.

Dayforce (NYSE:DAY – Get Free Report) last posted its earnings results on Wednesday, October 29th. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.19). Dayforce had a negative net margin of 7.91% and a positive return on equity of 6.54%. The firm had revenue of $481.60 million for the quarter, compared to analysts’ expectations of $481.22 million. During the same period last year, the firm earned $0.47 earnings per share. Dayforce’s revenue for the quarter was up 9.5% compared to the same quarter last year. As a group, analysts forecast that Dayforce will post 1.48 EPS for the current year.

About Dayforce

(Get Free Report)

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. The company also provides payroll and payroll-related services; and implementation and professional services.

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