Dayforce Inc (NYSE:DAY) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Dayforce Inc (NYSE:DAY) has earned a consensus rating of “Moderate Buy” from the sixteen ratings firms that are presently covering the firm, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $74.86.

Several research firms have recently commented on DAY. Jefferies Financial Group reduced their price target on shares of Dayforce from $80.00 to $75.00 and set a “hold” rating on the stock in a research report on Thursday, February 6th. Cowen raised Dayforce from a “hold” rating to a “buy” rating in a research report on Friday, March 7th. Citigroup decreased their target price on shares of Dayforce from $90.00 to $83.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. Needham & Company LLC reissued a “buy” rating and issued a $95.00 price target on shares of Dayforce in a research note on Thursday, February 6th. Finally, Scotiabank lowered their price objective on shares of Dayforce from $72.00 to $55.00 and set a “sector perform” rating for the company in a research report on Monday, March 17th.

Insider Buying and Selling

In related news, EVP William Everett Mcdonald sold 2,000 shares of the stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $56.16, for a total transaction of $112,320.00. Following the completion of the transaction, the executive vice president now directly owns 105,691 shares of the company’s stock, valued at $5,935,606.56. This represents a 1.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 4.50% of the company’s stock.

Hedge Funds Weigh In On Dayforce

Several institutional investors and hedge funds have recently added to or reduced their stakes in DAY. FMR LLC grew its holdings in Dayforce by 382.5% during the fourth quarter. FMR LLC now owns 3,215,123 shares of the company’s stock worth $233,547,000 after acquiring an additional 2,548,779 shares during the period. Capital International Investors grew its stake in shares of Dayforce by 3.9% during the 4th quarter. Capital International Investors now owns 17,659,706 shares of the company’s stock worth $1,282,800,000 after purchasing an additional 667,065 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Dayforce by 18,250.4% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 660,613 shares of the company’s stock valued at $47,890,000 after purchasing an additional 657,013 shares in the last quarter. California Public Employees Retirement System lifted its stake in shares of Dayforce by 189.0% in the fourth quarter. California Public Employees Retirement System now owns 567,561 shares of the company’s stock valued at $41,228,000 after purchasing an additional 371,153 shares during the period. Finally, Northern Trust Corp boosted its holdings in Dayforce by 21.5% during the fourth quarter. Northern Trust Corp now owns 1,544,475 shares of the company’s stock worth $112,191,000 after buying an additional 273,031 shares in the last quarter.

Dayforce Price Performance

NYSE:DAY opened at $57.82 on Monday. Dayforce has a one year low of $47.08 and a one year high of $82.69. The stock has a market cap of $9.15 billion, a PE ratio of 525.68, a P/E/G ratio of 2.49 and a beta of 1.20. 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 stock has a 50 day moving average price of $57.20 and a 200 day moving average price of $67.03.

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

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.