Dayforce Inc (NYSE:DAY) Receives Average Rating of “Moderate Buy” from Brokerages

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

Several equities research analysts recently weighed in on DAY shares. Piper Sandler reissued an “overweight” rating and set a $94.00 price objective (up previously from $82.00) on shares of Dayforce in a report on Wednesday, November 13th. KeyCorp upped their price objective on Dayforce from $80.00 to $92.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Jefferies Financial Group lifted their target price on shares of Dayforce from $55.00 to $65.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. BMO Capital Markets raised their price target on shares of Dayforce from $80.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Finally, Needham & Company LLC boosted their price objective on shares of Dayforce from $82.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th.

Dayforce Stock Performance

Shares of Dayforce stock opened at $74.84 on Tuesday. The company’s 50 day moving average price is $74.48 and its two-hundred day moving average price is $61.67. The firm has a market capitalization of $11.80 billion, a P/E ratio of 226.79, a P/E/G ratio of 3.68 and a beta of 1.26. 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 current ratio of 1.15 and a quick ratio of 1.15.

Insider Buying and Selling

In other Dayforce news, insider Jeffrey Scott Jacobs sold 643 shares of Dayforce stock in a transaction on 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. The trade was a 1.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO David D. Ossip sold 858,697 shares of the stock in a transaction dated Tuesday, November 26th. The stock was 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 directly owns 794,527 shares in the company, valued at $63,204,622.85. This trade represents a 51.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 865,340 shares of company stock valued at $68,770,223 over the last 90 days. Company insiders own 4.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Financial Perspectives Inc bought a new stake in shares of Dayforce during the second quarter valued at approximately $28,000. Quent Capital LLC acquired a new stake in Dayforce in the 3rd quarter valued at $28,000. Sentry Investment Management LLC acquired a new position in Dayforce during the second quarter worth $33,000. Farther Finance Advisors LLC bought a new position in shares of Dayforce in the third quarter valued at $40,000. Finally, Quarry LP acquired a new position in shares of Dayforce during the third quarter valued at about $51,000.

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.