Dayforce Inc (NYSE:DAY) Receives $77.86 Average PT from Analysts

Dayforce Inc (NYSE:DAY - Get Free Report) has been assigned an average rating of "Moderate Buy" from the sixteen ratings firms that are currently covering the firm, MarketBeat reports. Six research analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $77.86.

A number of analysts have recently weighed in on the stock. Stifel Nicolaus reduced their target price on shares of Dayforce from $90.00 to $85.00 and set a "buy" rating on the stock in a research report on Thursday, February 6th. Scotiabank lowered their target price 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. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $80.00 price target (down previously from $85.00) on shares of Dayforce in a research note on Wednesday, January 8th. Citigroup reduced their price objective on Dayforce from $90.00 to $83.00 and set a "buy" rating for the company in a research report on Thursday, January 16th. Finally, Barclays dropped their target price on Dayforce from $80.00 to $69.00 and set an "equal weight" rating on the stock in a report on Thursday, February 6th.

Dayforce Trading Down 2.2 %

Shares of NYSE:DAY traded down $1.34 on Thursday, hitting $58.31. The company had a trading volume of 1,361,223 shares, compared to its average volume of 1,731,721. Dayforce has a 1 year low of $47.08 and a 1 year 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 firm's 50-day simple moving average is $63.29 and its two-hundred day simple moving average is $67.91. The firm has a market capitalization of $9.23 billion, a price-to-earnings ratio of 530.15, a P/E/G ratio of 2.49 and a beta of 1.33.

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Dayforce (NYSE:DAY - Get Free Report) last announced 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 return on equity of 6.49% and a net margin of 1.03%. Equities analysts anticipate that Dayforce will post 1.48 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, COO Stephen H. Holdridge sold 1,000 shares of Dayforce stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $71.33, for a total value of $71,330.00. Following the sale, the chief operating officer now directly owns 119,022 shares of the company's stock, valued at approximately $8,489,839.26. The trade was a 0.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 4.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Dayforce

Several institutional investors have recently added to or reduced their stakes in the company. Lansforsakringar Fondforvaltning AB publ purchased a new position in shares of Dayforce in the fourth quarter valued at $3,680,000. Siemens Fonds Invest GmbH purchased a new stake in Dayforce in the 4th quarter valued at about $3,669,000. Mackenzie Financial Corp raised its stake in shares of Dayforce by 557.6% during the fourth quarter. Mackenzie Financial Corp now owns 34,038 shares of the company's stock valued at $2,468,000 after acquiring an additional 28,862 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Dayforce by 23.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,207,045 shares of the company's stock valued at $87,680,000 after purchasing an additional 226,353 shares during the period. Finally, Woodline Partners LP boosted its holdings in shares of Dayforce by 53.1% in the fourth quarter. Woodline Partners LP now owns 634,345 shares of the company's stock valued at $46,079,000 after purchasing an additional 220,112 shares during the period.

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.