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Dayforce's (DAY) "Hold (C-)" Rating Reiterated at Weiss Ratings

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Key Points

  • Dayforce's stock maintains a "hold (C-)" rating as reaffirmed by Weiss Ratings, reflecting a cautious approach amidst mixed analyst opinions.
  • The stock's average price target is approximately $70.36, with multiple analysts adjusting their ratings and target prices following recent performance.
  • Dayforce reported earnings of $0.61 EPS, exceeding expectations and marking a 9.8% revenue increase year-over-year, with a current market capitalization of $10.97 billion.
  • MarketBeat previews the top five stocks to own by November 1st.

Dayforce (NYSE:DAY - Get Free Report)'s stock had its "hold (c-)" rating reaffirmed by research analysts at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

DAY has been the subject of a number of other research reports. Wells Fargo & Company raised shares of Dayforce from a "strong sell" rating to an "equal weight" rating and upped their target price for the stock from $50.00 to $70.00 in a report on Friday, August 22nd. Stifel Nicolaus reaffirmed a "hold" rating and set a $70.00 target price (down previously from $72.00) on shares of Dayforce in a report on Friday, September 19th. William Blair lowered shares of Dayforce from an "outperform" rating to a "hold" rating in a report on Wednesday, August 20th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Dayforce from $60.00 to $70.00 and gave the stock a "hold" rating in a report on Friday, August 22nd. Finally, Needham & Company LLC lowered shares of Dayforce from a "buy" rating to a "hold" rating and set a $95.00 target price for the company. in a report on Friday, August 22nd. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and fourteen have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $70.36.

Check Out Our Latest Stock Analysis on DAY

Dayforce Stock Performance

NYSE:DAY traded down $0.30 during trading hours on Wednesday, hitting $68.69. 3,210,237 shares of the company were exchanged, compared to its average volume of 2,325,859. The stock has a market capitalization of $10.97 billion, a price-to-earnings ratio of 228.97, a PEG ratio of 2.54 and a beta of 1.17. Dayforce has a 52-week low of $48.01 and a 52-week high of $82.69. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.04 and a quick ratio of 1.04. The company's 50 day moving average price is $65.17 and its 200-day moving average price is $59.98.

Dayforce (NYSE:DAY - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.61 EPS for the quarter, beating the consensus estimate of $0.52 by $0.09. The business had revenue of $464.70 million during the quarter, compared to analysts' expectations of $457.83 million. Dayforce had a net margin of 2.65% and a return on equity of 7.37%. The business's quarterly revenue was up 9.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.48 EPS. As a group, research analysts forecast that Dayforce will post 1.48 earnings per share for the current year.

Insider Buying and Selling at Dayforce

In other news, EVP Samer Alkharrat sold 3,232 shares of Dayforce stock in a transaction on Thursday, September 25th. The stock was sold at an average price of $68.78, for a total transaction of $222,296.96. Following the completion of the transaction, the executive vice president owned 121,167 shares of the company's stock, valued at $8,333,866.26. The trade was a 2.60% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Stephen H. Holdridge sold 2,000 shares of Dayforce stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $68.95, for a total value of $137,900.00. Following the completion of the sale, the chief operating officer owned 186,811 shares of the company's stock, valued at $12,880,618.45. This trade represents a 1.06% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 13,950 shares of company stock valued at $861,578. 4.50% of the stock is owned by company insiders.

Institutional Trading of Dayforce

A number of institutional investors and hedge funds have recently bought and sold shares of DAY. MUFG Securities EMEA plc purchased a new position in shares of Dayforce during the 2nd quarter valued at approximately $26,000. SVB Wealth LLC acquired a new stake in Dayforce in the first quarter worth $30,000. Assetmark Inc. increased its position in Dayforce by 701.4% in the second quarter. Assetmark Inc. now owns 561 shares of the company's stock worth $31,000 after buying an additional 491 shares during the period. National Pension Service increased its position in Dayforce by 74.5% in the first quarter. National Pension Service now owns 541 shares of the company's stock worth $32,000 after buying an additional 231 shares during the period. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of Dayforce by 50.5% during the second quarter. EverSource Wealth Advisors LLC now owns 715 shares of the company's stock valued at $40,000 after purchasing an additional 240 shares during the period.

Dayforce Company Profile

(Get Free Report)

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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Analyst Recommendations for Dayforce (NYSE:DAY)

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