Dayforce Inc (NYSE:DAY) Receives $76.79 Average Price Target from Brokerages

Shares of Dayforce Inc (NYSE:DAY - Get Free Report) have been assigned an average rating of "Moderate Buy" from the sixteen analysts that are covering the firm, MarketBeat reports. Six equities 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 objective among brokerages that have covered the stock in the last year is $74.86.

Several equities analysts have issued reports on the company. Piper Sandler reaffirmed an "overweight" rating and set a $83.00 price objective (down previously from $94.00) on shares of Dayforce in a report on Wednesday, February 5th. TD Cowen upgraded Dayforce from a "hold" rating to a "buy" rating and boosted their price objective for the company from $67.00 to $68.00 in a research note on Friday, March 7th. Barclays lowered their target price on shares of Dayforce from $69.00 to $61.00 and set an "equal weight" rating on the stock in a research report on Monday. Cowen upgraded shares of Dayforce from a "hold" rating to a "buy" rating in a research note on Friday, March 7th. Finally, Stifel Nicolaus dropped their price objective on shares of Dayforce from $90.00 to $85.00 and set a "buy" rating on the stock in a research note on Thursday, February 6th.

Insider Buying and Selling

In related news, EVP William Everett Mcdonald sold 2,000 shares of the firm's stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $56.16, for a total value of $112,320.00. Following the completion of the sale, the executive vice president now owns 105,691 shares in the company, valued at $5,935,606.56. This trade represents a 1.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Harvest Fund Management Co. Ltd acquired a new stake in shares of Dayforce in the 4th quarter worth approximately $61,000. Federated Hermes Inc. acquired a new position in shares of Dayforce in the fourth quarter worth $72,000. AlphaQuest LLC lifted its holdings in Dayforce by 14,800.0% in the 4th quarter. AlphaQuest LLC now owns 1,043 shares of the company's stock valued at $76,000 after purchasing an additional 1,036 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in shares of Dayforce by 69.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,227 shares of the company's stock valued at $89,000 after buying an additional 501 shares during the period. Finally, Mufg Securities Americas Inc. purchased a new position in shares of Dayforce during the 4th quarter worth $169,000.

Dayforce Stock Up 0.2 %

DAY traded up $0.12 on Monday, reaching $57.39. The company's stock had a trading volume of 384,665 shares, compared to its average volume of 1,749,234. The company has a market capitalization of $9.08 billion, a price-to-earnings ratio of 521.52, a P/E/G ratio of 2.49 and a beta of 1.20. Dayforce has a fifty-two week low of $47.08 and a fifty-two week high of $82.69. The company has a quick ratio of 1.15, a current ratio of 1.13 and a debt-to-equity ratio of 0.47. The stock has a 50 day moving average of $57.39 and a two-hundred day moving average of $67.05.

Dayforce (NYSE:DAY - Get Free Report) last issued its earnings results on Wednesday, February 5th. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.09). Dayforce had a net margin of 1.03% and a return on equity of 6.49%. As a group, analysts forecast that Dayforce will post 1.48 EPS for the current fiscal year.

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.