Dayforce, Inc. (NYSE:DAY) Receives Consensus Rating of "Moderate Buy" from Brokerages

Key Points

• Dayforce, Inc. has received a consensus rating of "Moderate Buy" from fifteen analysts, with ten buy recommendations, four holds, and one sell.
• The average 12-month price target for Dayforce shares is $70.86, though several brokerages have adjusted their price targets lower in recent months.
• Insider transactions reveal that executives sold 9,382 shares worth $539,860 over the last three months, indicating a decrease in insider ownership.

Dayforce, Inc. (NYSE:DAY - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the fifteen analysts that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and ten have given a buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $70.86.

Several analysts have recently weighed in on the stock. Barclays lowered their price objective on shares of Dayforce from $61.00 to $60.00 and set an "equal weight" rating for the company in a research note on Thursday, May 8th. BMO Capital Markets reiterated an "outperform" rating on shares of Dayforce in a research note on Tuesday, June 10th. Jefferies Financial Group reaffirmed a "hold" rating on shares of Dayforce in a report on Friday, May 23rd. Citigroup lifted their price target on Dayforce from $68.00 to $70.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. Finally, Mizuho cut their price target on shares of Dayforce from $95.00 to $80.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th.

Dayforce Price Performance

DAY traded down $2.37 during trading on Wednesday, hitting $55.30. 1,802,715 shares of the stock traded hands, compared to its average volume of 1,870,071. The company has a market cap of $8.84 billion, a price-to-earnings ratio of 345.65, a PEG ratio of 2.29 and a beta of 1.08. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.02 and a quick ratio of 1.02. The business has a 50 day moving average price of $57.69 and a 200 day moving average price of $59.61. Dayforce has a twelve month low of $48.01 and a twelve month high of $82.69.

Insider Transactions at Dayforce

In other news, EVP Samer Alkharrat sold 4,659 shares of the firm's stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $59.69, for a total transaction of $278,095.71. Following the transaction, the executive vice president directly owned 127,632 shares of the company's stock, valued at approximately $7,618,354.08. This trade represents a 3.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Stephen H. Holdridge sold 2,000 shares of the business's stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $55.01, for a total transaction of $110,020.00. Following the completion of the sale, the chief operating officer owned 190,811 shares of the company's stock, valued at approximately $10,496,513.11. This represents a 1.04% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,382 shares of company stock valued at $539,860. 4.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Dayforce

Several large investors have recently modified their holdings of the business. Xponance Inc. raised its holdings in shares of Dayforce by 0.8% in the 1st quarter. Xponance Inc. now owns 22,673 shares of the company's stock valued at $1,323,000 after purchasing an additional 179 shares in the last quarter. Covestor Ltd lifted its position in shares of Dayforce by 15.6% during the first quarter. Covestor Ltd now owns 1,430 shares of the company's stock valued at $83,000 after buying an additional 193 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its position in shares of Dayforce by 1.0% during the second quarter. DekaBank Deutsche Girozentrale now owns 19,984 shares of the company's stock valued at $1,103,000 after buying an additional 196 shares during the last quarter. HighTower Advisors LLC lifted its position in shares of Dayforce by 3.5% during the first quarter. HighTower Advisors LLC now owns 5,931 shares of the company's stock valued at $346,000 after buying an additional 203 shares during the last quarter. Finally, Stifel Financial Corp lifted its position in shares of Dayforce by 4.1% during the fourth quarter. Stifel Financial Corp now owns 5,206 shares of the company's stock valued at $378,000 after buying an additional 205 shares during the last quarter.

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.