Dayforce Inc (NYSE:DAY) Receives $71.29 Consensus Target Price from Analysts

Dayforce Inc (NYSE:DAY) has received a consensus rating of “Moderate Buy” from the fourteen research firms that are covering the company, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $71.54.

Several equities research analysts recently weighed in on the company. Jefferies Financial Group decreased their price target on Dayforce from $80.00 to $75.00 and set a “hold” rating for the company in a report on Thursday, February 6th. Stifel Nicolaus reduced their target price on shares of Dayforce from $90.00 to $85.00 and set a “buy” rating for the company in a research note on Thursday, February 6th. Cowen raised shares of Dayforce from a “hold” rating to a “buy” rating in a report on Friday, March 7th. Needham & Company LLC reiterated a “buy” rating and set a $95.00 price target on shares of Dayforce in a research note on Thursday, May 8th. Finally, Citigroup raised their price objective on shares of Dayforce from $68.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, May 8th.

Insider Activity at Dayforce

In other news, EVP William Everett Mcdonald sold 2,000 shares of Dayforce stock in a transaction on Tuesday, April 15th. The stock was 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 owns 105,691 shares of the company’s stock, valued at $5,935,606.56. The trade was a 1.86% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Samer Alkharrat sold 1,916 shares of the business’s stock in a transaction dated Friday, April 25th. The stock was sold at an average price of $56.64, for a total transaction of $108,522.24. Following the completion of the sale, the executive vice president now owns 150,237 shares in the company, valued at $8,509,423.68. This represents a 1.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Dayforce

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SVB Wealth LLC acquired a new stake in shares of Dayforce in the first quarter valued at approximately $30,000. National Pension Service grew its holdings in Dayforce by 74.5% during the 1st quarter. National Pension Service now owns 541 shares of the company’s stock valued at $32,000 after buying an additional 231 shares during the last quarter. Mather Group LLC. grew its holdings in Dayforce by 196.9% during the 1st quarter. Mather Group LLC. now owns 962 shares of the company’s stock valued at $56,000 after buying an additional 638 shares during the last quarter. Harvest Fund Management Co. Ltd purchased a new position in Dayforce during the fourth quarter worth $61,000. Finally, Federated Hermes Inc. acquired a new position in shares of Dayforce in the fourth quarter worth $72,000.

Dayforce Stock Up 1.5%

Dayforce stock opened at $60.01 on Friday. The stock has a 50 day moving average of $56.54 and a two-hundred day moving average of $66.37. Dayforce has a twelve month low of $47.08 and a twelve month high of $82.69. The stock has a market capitalization of $9.59 billion, a price-to-earnings ratio of 545.60, a PEG ratio of 2.49 and a beta of 1.17. The company has a current ratio of 1.13, a quick ratio of 1.15 and a debt-to-equity ratio of 0.47.

Dayforce Company Profile

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.