Dayforce Inc (NYSE:DAY) Receives Average Recommendation of "Moderate Buy" from Brokerages

Shares of Dayforce Inc (NYSE:DAY - Get Free Report) have been given a consensus rating of "Moderate Buy" by the fifteen analysts that are presently covering the firm, Marketbeat Ratings reports. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $71.29.

DAY has been the subject of a number of recent research reports. Citigroup boosted their price target on shares of Dayforce from $68.00 to $70.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. Barclays reduced their price objective on shares of Dayforce from $61.00 to $60.00 and set an "equal weight" rating for the company in a report on Thursday, May 8th. TD Cowen upgraded shares of Dayforce from a "hold" rating to a "buy" rating and upped their target price for the stock from $67.00 to $68.00 in a report on Friday, March 7th. Piper Sandler dropped their price target on shares of Dayforce from $83.00 to $70.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 7th. Finally, Stifel Nicolaus cut their price target on Dayforce from $90.00 to $85.00 and set a "buy" rating for the company in a research note on Thursday, February 6th.

Insider Activity at Dayforce

In related news, EVP William Everett Mcdonald sold 2,000 shares of the business's stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $56.16, for a total value of $112,320.00. Following the transaction, the executive vice president now directly owns 105,691 shares of the company's stock, valued at approximately $5,935,606.56. The trade was a 1.86% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Samer Alkharrat sold 1,916 shares of the firm's stock in a transaction dated Friday, April 25th. The stock was sold at an average price of $56.64, for a total transaction of $108,522.24. Following the sale, the executive vice president now owns 150,237 shares of the company's stock, valued at $8,509,423.68. This trade represents a 1.26% decrease in their position. The disclosure for this sale can be found here. 4.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

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

Dayforce Trading Down 0.5%

NYSE DAY opened at $59.10 on Friday. The company has a quick ratio of 1.15, a current ratio of 1.13 and a debt-to-equity ratio of 0.47. Dayforce has a 52 week low of $47.08 and a 52 week high of $82.69. The business has a 50 day moving average price of $56.41 and a 200-day moving average price of $66.46. The company has a market cap of $9.45 billion, a price-to-earnings ratio of 537.32, a P/E/G ratio of 2.49 and a beta of 1.17.

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.

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