Dayforce Inc (NYSE:DAY) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Dayforce Inc (NYSE:DAY) have been given a consensus rating of “Moderate Buy” by the fifteen research firms that are presently covering the company, MarketBeat reports. Five research analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $71.57.

A number of equities analysts have recently commented on the stock. Scotiabank reduced their price objective on shares of Dayforce from $72.00 to $55.00 and set a “sector perform” rating for the company in a report on Monday, March 17th. Piper Sandler dropped their price target on Dayforce from $83.00 to $70.00 and set an “overweight” rating for the company in a report on Wednesday, May 7th. Mizuho dropped their price objective on shares of Dayforce from $95.00 to $80.00 and set an “outperform” rating for the company in a research report on Tuesday, April 15th. Cowen raised shares of Dayforce from a “hold” rating to a “buy” rating in a report on Friday, March 7th. Finally, Citigroup lifted their price target on shares of Dayforce from $68.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, May 8th.

Dayforce Price Performance

NYSE DAY opened at $59.17 on Tuesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.15 and a current ratio of 1.13. Dayforce has a twelve month low of $47.08 and a twelve month high of $82.69. The stock has a 50-day simple moving average of $56.83 and a 200 day simple moving average of $64.25. The stock has a market capitalization of $9.46 billion, a PE ratio of 537.99, a P/E/G ratio of 2.49 and a beta of 1.12.

Insider Transactions at Dayforce

In other Dayforce news, EVP Samer Alkharrat sold 1,916 shares of the firm’s stock in a transaction that occurred on Friday, April 25th. The stock was sold at an average price of $56.64, for a total value of $108,522.24. Following the completion of the sale, the executive vice president now owns 150,237 shares of the company’s stock, valued at approximately $8,509,423.68. This trade represents a 1.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP William Everett Mcdonald sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $56.16, for a total value of $112,320.00. Following the sale, 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 disclosure for this sale can be found here. 4.50% of the stock is owned by company insiders.

Institutional Trading of Dayforce

A number of large investors have recently added to or reduced their stakes in the stock. Strs Ohio purchased a new position in Dayforce during the 1st quarter valued at about $1,157,000. SCS Capital Management LLC purchased a new position in Dayforce in the 1st quarter worth approximately $1,641,000. Optimize Financial Inc bought a new position in Dayforce in the first quarter valued at $223,000. Woodline Partners LP raised its holdings in shares of Dayforce by 1.3% during the 1st quarter. Woodline Partners LP now owns 642,858 shares of the company’s stock valued at $37,498,000 after buying an additional 8,513 shares in the last quarter. Finally, MBB Public Markets I LLC purchased a new position in Dayforce in the 1st quarter worth $321,000.

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.