Brokerages Set Dayforce Inc (NYSE:DAY) Price Target at $78.64

Shares of Dayforce Inc (NYSE:DAY - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the fifteen research firms that are presently covering the company, MarketBeat reports. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $78.64.

A number of research firms recently commented on DAY. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $80.00 target price (down from $85.00) on shares of Dayforce in a research report on Wednesday, January 8th. Citigroup lowered their price objective on shares of Dayforce from $90.00 to $83.00 and set a "buy" rating on the stock in a research report on Thursday, January 16th. Mizuho raised their price objective on shares of Dayforce from $85.00 to $95.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 13th. KeyCorp raised their price objective on shares of Dayforce from $80.00 to $92.00 and gave the stock an "overweight" rating in a research report on Wednesday, November 13th. Finally, Stifel Nicolaus lowered their price objective 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.

Dayforce Stock Up 0.4 %

Shares of DAY traded up $0.21 during midday trading on Friday, reaching $57.28. The stock had a trading volume of 2,627,022 shares, compared to its average volume of 1,790,355. Dayforce has a 1-year low of $47.08 and a 1-year high of $82.69. The company's fifty day simple moving average is $68.30 and its two-hundred day simple moving average is $67.85. The company has a market cap of $9.10 billion, a price-to-earnings ratio of 520.77, a PEG ratio of 2.49 and a beta of 1.33. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.13 and a quick ratio of 1.15.

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

Insider Activity at Dayforce

In other Dayforce news, COO Stephen H. Holdridge sold 1,000 shares of Dayforce stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $71.33, for a total transaction of $71,330.00. Following the completion of the transaction, the chief operating officer now owns 119,022 shares in the company, 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 legal filing with the SEC, which is accessible through this link. Company insiders own 4.90% of the company's stock.

Hedge Funds Weigh In On Dayforce

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DAY. Creative Planning raised its position in Dayforce by 87.7% during the third quarter. Creative Planning now owns 10,442 shares of the company's stock worth $640,000 after acquiring an additional 4,879 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in Dayforce during the third quarter worth about $480,000. Louisiana State Employees Retirement System purchased a new position in shares of Dayforce during the third quarter valued at approximately $545,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Dayforce during the third quarter valued at approximately $869,000. Finally, State of Alaska Department of Revenue lifted its stake in shares of Dayforce by 7.3% during the third quarter. State of Alaska Department of Revenue now owns 18,415 shares of the company's stock valued at $1,127,000 after buying an additional 1,245 shares during the period.

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.