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

Dayforce, Inc. (NYSE:DAY) has received an average recommendation of “Hold” from the seventeen analysts that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, fifteen have issued a hold recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $70.3571.

Several research analysts have recently commented on the company. UBS Group lowered Dayforce from a “strong-buy” rating to a “hold” rating in a report on Saturday, November 15th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Dayforce in a research note on Monday, December 29th. Needham & Company LLC reissued a “hold” rating on shares of Dayforce in a research note on Thursday, October 30th. Finally, Zacks Research raised shares of Dayforce from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 30th.

Insider Transactions at Dayforce

In related news, insider Jeffrey Scott Jacobs sold 500 shares of the stock in a transaction on Monday, January 26th. The stock was sold at an average price of $69.36, for a total value of $34,680.00. Following the transaction, the insider owned 48,901 shares of the company’s stock, valued at $3,391,773.36. This represents a 1.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 4.50% of the company’s stock.

Hedge Funds Weigh In On Dayforce

Hedge funds and other institutional investors have recently modified their holdings of the company. Pentwater Capital Management LP purchased a new position in shares of Dayforce during the 3rd quarter valued at about $378,895,000. Norges Bank bought a new position in Dayforce during the fourth quarter valued at approximately $252,876,000. HBK Investments L P grew its position in Dayforce by 82.6% during the fourth quarter. HBK Investments L P now owns 7,850,000 shares of the company’s stock valued at $542,906,000 after acquiring an additional 3,550,000 shares during the last quarter. FIL Ltd raised its stake in shares of Dayforce by 87.4% during the fourth quarter. FIL Ltd now owns 6,401,398 shares of the company’s stock worth $442,721,000 after acquiring an additional 2,986,398 shares in the last quarter. Finally, Farallon Capital Management LLC bought a new stake in shares of Dayforce in the 4th quarter worth approximately $202,293,000.

Dayforce Price Performance

NYSE:DAY opened at $69.97 on Friday. Dayforce has a 52-week low of $48.01 and a 52-week high of $72.28. The stock has a fifty day moving average of $69.46 and a 200 day moving average of $68.12. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.04 and a current ratio of 1.04. The firm has a market capitalization of $11.20 billion, a price-to-earnings ratio of -74.44, a P/E/G ratio of 2.13 and a beta of 1.16.

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