Dayforce, Inc. (NYSE:DAY) Given Average Recommendation of "Hold" by Brokerages

Key Points

• Dayforce, Inc. has received a consensus recommendation of "Hold" from 16 brokerages, with ten analysts rating it as a hold, five as a buy, and one as a strong buy.
• The average twelve-month price target for Dayforce shares is $72.14, following several upward revisions by analysts, including Jefferies and Citigroup.
• Insider transactions revealed COO Stephen H. Holdridge and EVP William Everett Mcdonald both sold shares at an average price of $55.01, indicating a decrease in their holdings by 1.04% and 1.95%, respectively.

Shares of Dayforce, Inc. (NYSE:DAY - Get Free Report) have been given a consensus recommendation of "Hold" by the sixteen brokerages that are covering the firm, Marketbeat.com reports. Ten research analysts have rated the stock with a hold recommendation, five have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $72.1429.

A number of research analysts have recently weighed in on the stock. Jefferies Financial Group raised their price target on shares of Dayforce from $60.00 to $70.00 and gave the company a "hold" rating in a report on Thursday. Citigroup raised their price target on shares of Dayforce from $68.00 to $70.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Dayforce from $60.00 to $70.00 and gave the company a "hold" rating in a report on Friday. Barclays raised their price target on shares of Dayforce from $61.00 to $70.00 and gave the company an "equal weight" rating in a report on Friday. Finally, Needham & Company LLC downgraded shares of Dayforce from a "buy" rating to a "hold" rating and set a $95.00 price target on the stock. in a report on Friday.

Insider Activity

In related news, COO Stephen H. Holdridge sold 2,000 shares of Dayforce stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $55.01, for a total value of $110,020.00. Following the transaction, the chief operating officer owned 190,811 shares in the company, valued at $10,496,513.11. This trade represents a 1.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP William Everett Mcdonald sold 2,059 shares of Dayforce stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $55.01, for a total transaction of $113,265.59. Following the completion of the transaction, the executive vice president owned 103,684 shares in the company, valued at $5,703,656.84. This trade represents a 1.95% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,382 shares of company stock worth $539,860. 4.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. State of Wyoming bought a new position in Dayforce in the 2nd quarter worth $54,000. Public Sector Pension Investment Board raised its holdings in Dayforce by 44.1% in the 2nd quarter. Public Sector Pension Investment Board now owns 32,928 shares of the company's stock worth $1,824,000 after acquiring an additional 10,081 shares during the period. Tower Research Capital LLC TRC raised its holdings in Dayforce by 208.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 7,187 shares of the company's stock worth $398,000 after acquiring an additional 4,859 shares during the period. MUFG Securities EMEA plc bought a new position in Dayforce in the 2nd quarter worth $26,000. Finally, Two Sigma Securities LLC raised its holdings in Dayforce by 77.0% in the 2nd quarter. Two Sigma Securities LLC now owns 7,012 shares of the company's stock worth $388,000 after acquiring an additional 3,050 shares during the period.

Dayforce Trading Up 0.3%

Shares of NYSE:DAY opened at $69.1750 on Friday. The firm has a fifty day moving average of $57.28 and a two-hundred day moving average of $58.09. The firm has a market capitalization of $11.05 billion, a P/E ratio of 230.59, a price-to-earnings-growth ratio of 2.60 and a beta of 1.11. Dayforce has a 12-month low of $48.01 and a 12-month high of $82.69. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.23.

Dayforce (NYSE:DAY - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $0.61 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.52 by $0.09. The company had revenue of $464.70 million during the quarter, compared to analyst estimates of $457.83 million. Dayforce had a net margin of 2.65% and a return on equity of 7.37%. The company's revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter last year, the business posted $0.48 EPS. On average, equities analysts expect 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.