Brokerages Set Dayforce, Inc. (NYSE:DAY) Price Target at $70.36

Shares of Dayforce, Inc. (NYSE:DAY) have received an average rating of “Hold” from the seventeen brokerages that are currently covering the firm, MarketBeat reports. Fourteen investment analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $70.3571.

DAY has been the subject of a number of research analyst reports. Mizuho set a $70.00 price target on Dayforce in a research note on Friday, August 22nd. Jefferies Financial Group increased their price target on Dayforce from $60.00 to $70.00 and gave the company a “hold” rating in a research note on Thursday, August 21st. TD Cowen cut Dayforce from a “buy” rating to a “hold” rating in a research note on Thursday, August 21st. Wells Fargo & Company upgraded Dayforce from a “strong sell” rating to an “equal weight” rating and increased their price target for the company from $50.00 to $70.00 in a research note on Friday, August 22nd. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Dayforce from $60.00 to $70.00 and gave the company a “hold” rating in a research note on Friday, August 22nd.

Dayforce Stock Up 0.1%

Shares of DAY stock opened at $68.29 on Monday. Dayforce has a 1-year low of $48.01 and a 1-year high of $82.69. The stock’s fifty day moving average price is $66.51 and its 200 day moving average price is $60.28. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.04 and a quick ratio of 1.04. The company has a market cap of $10.90 billion, a price-to-earnings ratio of 227.62, a price-to-earnings-growth ratio of 2.51 and a beta of 1.17.

Dayforce (NYSE:DAY) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.09. Dayforce had a return on equity of 7.37% and a net margin of 2.65%.The company had revenue of $464.70 million during the quarter, compared to analysts’ expectations of $457.83 million. During the same period last year, the business posted $0.48 earnings per share. The firm’s revenue was up 9.8% compared to the same quarter last year. On average, research analysts expect that Dayforce will post 1.48 earnings per share for the current fiscal year.

Insider Transactions at Dayforce

In other news, major shareholder Price T. Rowe Associates Inc /M sold 4,499 shares of the firm’s stock in a transaction dated Thursday, October 9th. The stock was sold at an average price of $68.38, for a total value of $307,641.62. Following the completion of the transaction, the insider directly owned 24,797,115 shares in the company, valued at $1,695,626,723.70. This trade represents a 0.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Samer Alkharrat sold 4,659 shares of the firm’s stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $59.69, for a total value of $278,095.71. Following the completion of the transaction, the executive vice president owned 127,632 shares of the company’s stock, valued at approximately $7,618,354.08. The trade was a 3.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 14,390 shares of company stock worth $945,934 over the last three months. 4.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of DAY. MUFG Securities EMEA plc purchased a new position in shares of Dayforce in the second quarter worth about $26,000. SVB Wealth LLC acquired a new stake in Dayforce during the first quarter worth about $30,000. Assetmark Inc. grew its holdings in Dayforce by 701.4% during the second quarter. Assetmark Inc. now owns 561 shares of the company’s stock worth $31,000 after acquiring an additional 491 shares during the period. National Pension Service grew its holdings in Dayforce by 74.5% during the first quarter. National Pension Service now owns 541 shares of the company’s stock worth $32,000 after acquiring an additional 231 shares during the period. Finally, EverSource Wealth Advisors LLC grew its holdings in Dayforce by 50.5% during the second quarter. EverSource Wealth Advisors LLC now owns 715 shares of the company’s stock worth $40,000 after acquiring an additional 240 shares during the period.

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.