Dayforce Inc (NYSE:DAY) Receives $79.93 Average Target Price from Analysts

Shares of Dayforce Inc (NYSE:DAY - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the fifteen brokerages that are currently covering the stock, Marketbeat.com reports. Seven analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $79.93.

A number of research firms recently commented on DAY. Jefferies Financial Group boosted their price objective on shares of Dayforce from $55.00 to $65.00 and gave the stock a "hold" rating in a report on Tuesday, October 22nd. KeyCorp upped their price target on Dayforce from $80.00 to $92.00 and gave the stock an "overweight" rating in a report on Wednesday, November 13th. Piper Sandler reaffirmed an "overweight" rating and set a $94.00 price objective (up from $82.00) on shares of Dayforce in a report on Wednesday, November 13th. Scotiabank assumed coverage on Dayforce in a report on Monday, November 18th. They issued a "sector perform" rating and a $75.00 target price on the stock. Finally, TD Cowen raised their price target on Dayforce from $58.00 to $62.00 and gave the company a "hold" rating in a research report on Monday, October 7th.

Insider Activity at Dayforce

In related news, insider Jeffrey Scott Jacobs sold 643 shares of the business's stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $63.37, for a total value of $40,746.91. Following the completion of the sale, the insider now directly owns 34,074 shares in the company, valued at approximately $2,159,269.38. The trade was a 1.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David D. Ossip sold 858,697 shares of the stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $79.55, for a total transaction of $68,309,346.35. Following the transaction, the chief executive officer now directly owns 794,527 shares in the company, valued at approximately $63,204,622.85. This represents a 51.94 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 865,340 shares of company stock valued at $68,770,223. Company insiders own 4.90% of the company's stock.

Institutional Trading of Dayforce

Institutional investors and hedge funds have recently made changes to their positions in the company. Financial Perspectives Inc purchased a new stake in Dayforce during the second quarter worth approximately $28,000. Quent Capital LLC acquired a new stake in Dayforce in the 3rd quarter valued at $28,000. Sentry Investment Management LLC purchased a new position in Dayforce in the second quarter valued at about $33,000. Farther Finance Advisors LLC acquired a new position in shares of Dayforce during the third quarter worth about $40,000. Finally, Quarry LP acquired a new position in shares of Dayforce during the third quarter worth about $51,000.

Dayforce Price Performance

Shares of NYSE DAY traded up $0.17 during trading on Friday, hitting $70.30. 1,158,029 shares of the company were exchanged, compared to its average volume of 1,213,305. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.15 and a quick ratio of 1.15. Dayforce has a 1 year low of $47.08 and a 1 year high of $82.69. The company has a market cap of $11.09 billion, a price-to-earnings ratio of 213.04, a PEG ratio of 3.68 and a beta of 1.26. The firm's fifty day moving average price is $76.40 and its 200 day moving average price is $63.98.

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.