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

by · The Cerbat Gem

Shares of Dayforce Inc (NYSE:DAY – Get Free Report) have been assigned a consensus rating of “Moderate Buy” from the fifteen analysts that are presently covering the company, Marketbeat.com reports. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $79.86.

A number of equities research analysts have weighed in on the company. Needham & Company LLC raised their price target on Dayforce from $82.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Stifel Nicolaus raised 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. Mizuho upped their target price on Dayforce from $85.00 to $95.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Barclays lifted their price target on shares of Dayforce from $80.00 to $84.00 and gave the stock an “equal weight” rating in a research note on Friday, December 6th. Finally, TD Cowen upped their price objective on shares of Dayforce from $58.00 to $62.00 and gave the company a “hold” rating in a research note on Monday, October 7th.

Read Our Latest Stock Report on DAY

Insider Buying and Selling

In other news, insider Jeffrey Scott Jacobs sold 643 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $63.37, for a total value of $40,746.91. Following the completion of the sale, the insider now directly owns 34,074 shares of the company’s stock, valued at approximately $2,159,269.38. This trade represents a 1.85 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO David D. Ossip sold 858,697 shares of the business’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $79.55, for a total transaction of $68,309,346.35. Following the transaction, the chief executive officer now owns 794,527 shares in the company, valued at $63,204,622.85. This represents a 51.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 865,340 shares of company stock valued at $68,770,223 over the last ninety days. 4.90% of the stock is owned by insiders.

Institutional Trading of Dayforce

Large investors have recently bought and sold shares of the company. Select Equity Group L.P. purchased a new position in shares of Dayforce in the 2nd quarter valued at approximately $721,310,000. EdgePoint Investment Group Inc. lifted its position in Dayforce by 1.1% during the third quarter. EdgePoint Investment Group Inc. now owns 10,624,105 shares of the company’s stock valued at $650,726,000 after buying an additional 112,086 shares during the period. Janus Henderson Group PLC boosted its holdings in shares of Dayforce by 1.9% during the 3rd quarter. Janus Henderson Group PLC now owns 5,669,154 shares of the company’s stock valued at $347,236,000 after buying an additional 103,794 shares in the last quarter. Dragoneer Investment Group LLC purchased a new stake in shares of Dayforce in the 2nd quarter worth about $193,274,000. Finally, Geode Capital Management LLC increased its stake in shares of Dayforce by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 3,782,024 shares of the company’s stock worth $230,875,000 after acquiring an additional 30,302 shares in the last quarter.

Dayforce Stock Performance

Dayforce stock opened at $73.99 on Tuesday. Dayforce has a fifty-two week low of $47.08 and a fifty-two week high of $82.69. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.15 and a current ratio of 1.15. The stock has a market cap of $11.67 billion, a P/E ratio of 224.22, a price-to-earnings-growth ratio of 3.68 and a beta of 1.26. The firm’s fifty day moving average price is $74.70 and its 200-day moving average price is $61.91.

Dayforce Company Profile

(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.

Further Reading