Dayforce, Inc. (NYSE:DAY) Given Consensus Rating of "Moderate Buy" by Analysts

Shares of Dayforce, Inc. (NYSE:DAY - Get Free Report) have been given an average recommendation of "Moderate Buy" by the fifteen research firms that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $70.86.

A number of research firms recently weighed in on DAY. Needham & Company LLC reaffirmed a "buy" rating and set a $95.00 target price on shares of Dayforce in a report on Monday, June 30th. Scotiabank decreased their target price on shares of Dayforce from $72.00 to $55.00 and set a "sector perform" rating on the stock in a report on Monday, March 17th. KeyCorp decreased their target price on shares of Dayforce from $80.00 to $65.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Piper Sandler decreased their target price on shares of Dayforce from $83.00 to $70.00 and set an "overweight" rating on the stock in a report on Wednesday, May 7th. Finally, UBS Group boosted their price target on shares of Dayforce from $68.00 to $72.00 and gave the stock a "buy" rating in a research note on Thursday, June 5th.

Dayforce Price Performance

Dayforce stock traded up $1.72 during midday trading on Friday, reaching $57.22. 784,116 shares of the stock were exchanged, compared to its average volume of 1,777,948. The company's fifty day moving average is $57.89 and its 200-day moving average is $61.56. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a market cap of $9.15 billion, a PE ratio of 357.67, a PEG ratio of 2.24 and a beta of 1.08. Dayforce has a 52 week low of $47.08 and a 52 week high of $82.69.

Insider Buying and Selling at Dayforce

In related news, EVP Samer Alkharrat sold 1,916 shares of the stock in a transaction on Friday, April 25th. The shares were sold at an average price of $56.64, for a total transaction of $108,522.24. Following the transaction, the executive vice president owned 150,237 shares of the company's stock, valued at approximately $8,509,423.68. This trade represents a 1.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP William Everett Mcdonald sold 2,000 shares of the stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $56.16, for a total transaction of $112,320.00. Following the transaction, the executive vice president directly owned 105,691 shares in the company, valued at approximately $5,935,606.56. This represents a 1.86% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,580 shares of company stock worth $259,321. 4.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Dayforce

Several institutional investors and hedge funds have recently made changes to their positions in DAY. Proficio Capital Partners LLC bought a new position in shares of Dayforce during the 4th quarter valued at $1,314,000. QRG Capital Management Inc. purchased a new stake in Dayforce during the 4th quarter valued at $227,000. Smartleaf Asset Management LLC boosted its position in Dayforce by 69.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,227 shares of the company's stock valued at $89,000 after buying an additional 501 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Dayforce by 0.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,399,628 shares of the company's stock valued at $101,669,000 after buying an additional 4,584 shares during the period. Finally, Arizona State Retirement System boosted its position in Dayforce by 1.5% during the 4th quarter. Arizona State Retirement System now owns 45,920 shares of the company's stock valued at $3,336,000 after buying an additional 683 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.