Dayforce Inc (NYSE:DAY) Receives $71.57 Consensus Price Target from Analysts

Dayforce Inc (NYSE:DAY - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the fifteen brokerages that are covering the firm, MarketBeat.com reports. Five analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $71.57.

Several research analysts have recently weighed in on the company. KeyCorp reduced their target price on Dayforce from $80.00 to $65.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Piper Sandler cut their price target on shares of Dayforce from $83.00 to $70.00 and set an "overweight" rating for the company in a report on Wednesday, May 7th. Jefferies Financial Group restated a "hold" rating on shares of Dayforce in a research report on Friday, May 23rd. Mizuho dropped their target price 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. Finally, Citigroup boosted their target price on shares of Dayforce from $68.00 to $70.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th.

Insider Buying and Selling at Dayforce

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

Hedge Funds Weigh In On Dayforce

Several institutional investors and hedge funds have recently bought and sold shares of DAY. Smartleaf Asset Management LLC increased its holdings in shares of Dayforce by 69.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,227 shares of the company's stock worth $89,000 after buying an additional 501 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in Dayforce by 31.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,028 shares of the company's stock worth $1,398,000 after acquiring an additional 4,596 shares during the period. Proficio Capital Partners LLC acquired a new stake in Dayforce during the fourth quarter worth $1,314,000. Raymond James Financial Inc. purchased a new stake in Dayforce in the fourth quarter valued at $1,764,000. Finally, QRG Capital Management Inc. purchased a new stake in Dayforce in the fourth quarter valued at $227,000.

Dayforce Price Performance

NYSE DAY traded up $0.76 during trading hours on Tuesday, reaching $59.92. The company's stock had a trading volume of 1,634,232 shares, compared to its average volume of 1,773,413. The firm has a market capitalization of $9.58 billion, a price-to-earnings ratio of 544.73, a P/E/G ratio of 2.49 and a beta of 1.12. The company's 50-day moving average is $56.83 and its two-hundred day moving average is $64.25. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.13 and a quick ratio of 1.15. Dayforce has a 1-year low of $47.08 and a 1-year high of $82.69.

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.