Dayforce, Inc. (NYSE:DAY) Receives $70.86 Average Price Target from Brokerages

Shares of Dayforce, Inc. (NYSE:DAY - Get Free Report) have been given an average rating of "Moderate Buy" by the fifteen brokerages that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and ten have assigned a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $70.86.

DAY has been the topic of a number of analyst reports. Mizuho decreased their price objective on shares of Dayforce from $95.00 to $80.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 15th. UBS Group raised their target price on Dayforce from $68.00 to $72.00 and gave the stock a "buy" rating in a research note on Thursday, June 5th. Needham & Company LLC reaffirmed a "buy" rating and set a $95.00 price target on shares of Dayforce in a research report on Monday, June 30th. Piper Sandler dropped their price objective on Dayforce from $83.00 to $70.00 and set an "overweight" rating for the company in a report on Wednesday, May 7th. Finally, Barclays reduced their target price on Dayforce from $61.00 to $60.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 8th.

Dayforce Trading Up 2.7%

Shares of NYSE DAY traded up $1.53 during mid-day trading on Friday, hitting $58.13. The stock had a trading volume of 1,240,915 shares, compared to its average volume of 1,771,757. The business has a 50 day moving average price of $57.88 and a two-hundred day moving average price of $61.26. Dayforce has a 1 year low of $47.08 and a 1 year high of $82.69. 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 $9.29 billion, a P/E ratio of 363.34, a price-to-earnings-growth ratio of 2.22 and a beta of 1.08.

Insider Buying and Selling at Dayforce

In related news, EVP Samer Alkharrat sold 664 shares of the stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $57.95, for a total transaction of $38,478.80. Following the sale, the executive vice president directly owned 132,266 shares of the company's stock, valued at approximately $7,664,814.70. This represents a 0.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP William Everett Mcdonald sold 2,000 shares of Dayforce stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $56.16, for a total transaction of $112,320.00. Following the completion of the transaction, the executive vice president directly owned 105,691 shares of the company's stock, valued at $5,935,606.56. This trade represents a 1.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,580 shares of company stock worth $259,321 over the last three months. Corporate insiders own 4.50% of the company's stock.

Institutional Investors Weigh In On Dayforce

Several institutional investors and hedge funds have recently made changes to their positions in DAY. SVB Wealth LLC bought a new stake in shares of Dayforce in the 1st quarter worth $30,000. National Pension Service boosted its position in shares of Dayforce by 74.5% during the first quarter. National Pension Service now owns 541 shares of the company's stock valued at $32,000 after buying an additional 231 shares during the last quarter. Harvest Fund Management Co. Ltd purchased a new position in Dayforce in the 4th quarter worth about $61,000. Mather Group LLC. raised its position in Dayforce by 196.9% in the 1st quarter. Mather Group LLC. now owns 962 shares of the company's stock worth $56,000 after buying an additional 638 shares during the last quarter. Finally, Federated Hermes Inc. bought a new position in Dayforce during the 4th quarter valued at about $72,000.

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.