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

Key Points

• The consensus rating for Dayforce, Inc. (NYSE:DAY) is "Hold" based on assessments from seventeen brokerages, with fourteen analysts rating the stock as hold and only a few giving buy ratings.
• Dayforce's recent quarterly earnings report showed earnings per share of $0.61, exceeding analysts' estimates of $0.52, and revenue of $464.7 million, which was higher than the expected $457.83 million.
• In recent trading activity, company insiders sold a total of 13,950 shares, and institutional investors have increased their stakes, reflecting ongoing interest in the company's stock amidst mixed analyst ratings.

Shares of Dayforce, Inc. (NYSE:DAY - Get Free Report) have earned a consensus rating of "Hold" from the seventeen ratings firms that are presently covering the firm, MarketBeat.com reports. Fourteen research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $70.3571.

DAY has been the topic of a number of research analyst reports. BMO Capital Markets reissued a "market perform" rating and issued a $70.00 price target (up from $67.00) on shares of Dayforce in a research note on Friday, August 22nd. Stifel Nicolaus reissued a "hold" rating and issued a $70.00 price target (down from $72.00) on shares of Dayforce in a research note on Friday, September 19th. 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 research note on Friday, August 22nd. Weiss Ratings reissued a "hold (c-)" rating on shares of Dayforce in a research note on Wednesday, October 8th. Finally, TD Cowen downgraded shares of Dayforce from a "buy" rating to a "hold" rating in a research note on Thursday, August 21st.

Insider Buying and Selling

In related news, EVP William Everett Mcdonald sold 2,059 shares of the company's stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $55.01, for a total transaction of $113,265.59. Following the sale, the executive vice president directly owned 103,684 shares of the company's stock, valued at $5,703,656.84. This represents a 1.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Samer Alkharrat sold 3,232 shares of the company's stock in a transaction that occurred on Thursday, September 25th. The stock was sold at an average price of $68.78, for a total transaction of $222,296.96. Following the sale, the executive vice president directly owned 121,167 shares in the company, valued at approximately $8,333,866.26. The trade was a 2.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 13,950 shares of company stock valued at $861,578 in the last ninety days. Company insiders own 4.50% of the company's stock.

Institutional Investors Weigh In On Dayforce

Several large investors have recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. grew its holdings in Dayforce by 119.7% during the 1st quarter. Assenagon Asset Management S.A. now owns 91,939 shares of the company's stock worth $5,363,000 after acquiring an additional 50,097 shares in the last quarter. CX Institutional acquired a new position in Dayforce during the 1st quarter worth approximately $190,000. Fifth Third Bancorp grew its holdings in Dayforce by 7.1% during the 1st quarter. Fifth Third Bancorp now owns 9,802 shares of the company's stock worth $572,000 after acquiring an additional 648 shares in the last quarter. Exchange Traded Concepts LLC grew its holdings in Dayforce by 38.6% during the 1st quarter. Exchange Traded Concepts LLC now owns 3,669 shares of the company's stock worth $214,000 after acquiring an additional 1,022 shares in the last quarter. Finally, State of Alaska Department of Revenue grew its holdings in Dayforce by 3.6% during the 1st quarter. State of Alaska Department of Revenue now owns 18,630 shares of the company's stock worth $1,086,000 after acquiring an additional 645 shares in the last quarter.

Dayforce Price Performance

Shares of DAY stock opened at $68.11 on Monday. The firm's 50-day moving average is $65.64 and its two-hundred day moving average is $60.10. The company has a market capitalization of $10.88 billion, a PE ratio of 227.04, a price-to-earnings-growth ratio of 2.51 and a beta of 1.17. Dayforce has a 12 month low of $48.01 and a 12 month high of $82.69. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.04 and a quick ratio of 1.04.

Dayforce (NYSE:DAY - Get Free Report) last released its quarterly 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 business had revenue of $464.70 million for the quarter, compared to the consensus estimate of $457.83 million. Dayforce had a net margin of 2.65% and a return on equity of 7.37%. The business's revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.48 EPS. Analysts predict that Dayforce will post 1.48 earnings per share for the current 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.

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