Dayforce Inc (NYSE:DAY) Given Average Rating of "Moderate Buy" by Analysts

Dayforce Inc (NYSE:DAY - Get Free Report) has received an average rating of "Moderate Buy" from the fourteen analysts that are covering the firm, Marketbeat.com reports. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $78.77.

DAY has been the topic of a number of research analyst reports. Mizuho increased their price target on Dayforce from $85.00 to $95.00 and gave the company an "outperform" rating in a research note on Wednesday, November 13th. KeyCorp increased their price target on Dayforce from $80.00 to $92.00 and gave the company an "overweight" rating in a research note on Wednesday, November 13th. Citigroup increased their price objective on Dayforce from $75.00 to $81.00 and gave the stock a "buy" rating in a research report on Thursday, October 31st. TD Cowen increased their price objective on Dayforce from $58.00 to $62.00 and gave the stock a "hold" rating in a research report on Monday, October 7th. Finally, Needham & Company LLC increased their price objective on Dayforce from $82.00 to $95.00 and gave the stock a "buy" rating in a research report on Wednesday, November 13th.

Insider Activity at Dayforce

In other news, COO Stephen H. Holdridge sold 2,000 shares of Dayforce stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $69.25, for a total transaction of $138,500.00. Following the sale, the chief operating officer now directly owns 98,437 shares of the company's stock, valued at approximately $6,816,762.25. This trade represents a 1.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jeffrey Scott Jacobs sold 643 shares of the firm's stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $63.37, for a total value of $40,746.91. Following the transaction, the insider now owns 34,074 shares of the company's stock, valued at $2,159,269.38. This trade represents a 1.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,643 shares of company stock valued at $460,877 over the last ninety days. 4.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Dayforce

A number of hedge funds have recently added to or reduced their stakes in the business. Select Equity Group L.P. bought a new stake in Dayforce in the second quarter worth approximately $721,310,000. EdgePoint Investment Group Inc. grew its stake in Dayforce by 1.1% in the third quarter. EdgePoint Investment Group Inc. now owns 10,624,105 shares of the company's stock valued at $650,726,000 after acquiring an additional 112,086 shares during the period. Janus Henderson Group PLC grew its stake in Dayforce by 1.9% in the third quarter. Janus Henderson Group PLC now owns 5,669,154 shares of the company's stock valued at $347,236,000 after acquiring an additional 103,794 shares during the period. Dragoneer Investment Group LLC acquired a new stake in Dayforce in the second quarter valued at approximately $193,274,000. Finally, Geode Capital Management LLC grew its stake in Dayforce by 0.8% in the third quarter. Geode Capital Management LLC now owns 3,782,024 shares of the company's stock valued at $230,875,000 after acquiring an additional 30,302 shares during the period.

Dayforce Stock Performance

DAY traded up $1.18 during trading hours on Friday, reaching $79.88. The company's stock had a trading volume of 609,661 shares, compared to its average volume of 1,596,558. Dayforce has a 52 week low of $47.08 and a 52 week high of $81.32. The company's 50-day moving average is $66.90 and its 200-day moving average is $58.66. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.15 and a current ratio of 1.15. The firm has a market cap of $12.60 billion, a PE ratio of 237.67, a price-to-earnings-growth ratio of 3.51 and a beta of 1.27.

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.