Dayforce Inc (NYSE:DAY) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Dayforce Inc (NYSE:DAY) have been assigned a consensus rating of “Moderate Buy” from the fifteen analysts that are presently covering the company, Marketbeat.com reports. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $79.86.

A number of equities research analysts have weighed in on the company. Needham & Company LLC raised their price target on Dayforce from $82.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Stifel Nicolaus raised their price objective on Dayforce from $82.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Mizuho upped their target price on Dayforce from $85.00 to $95.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Barclays lifted their price target on shares of Dayforce from $80.00 to $84.00 and gave the stock an “equal weight” rating in a research note on Friday, December 6th. Finally, TD Cowen upped their price objective on shares of Dayforce from $58.00 to $62.00 and gave the company a “hold” rating in a research note on Monday, October 7th.

Insider Buying and Selling

In other news, insider Jeffrey Scott Jacobs sold 643 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $63.37, for a total value of $40,746.91. Following the completion of the sale, the insider now directly owns 34,074 shares of the company’s stock, valued at approximately $2,159,269.38. This trade represents a 1.85 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO David D. Ossip sold 858,697 shares of the business’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $79.55, for a total transaction of $68,309,346.35. Following the transaction, the chief executive officer now owns 794,527 shares in the company, valued at $63,204,622.85. This represents a 51.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 865,340 shares of company stock valued at $68,770,223 over the last ninety days. 4.90% of the stock is owned by insiders.

Institutional Trading of Dayforce

Large investors have recently bought and sold shares of the company. Select Equity Group L.P. purchased a new position in shares of Dayforce in the 2nd quarter valued at approximately $721,310,000. EdgePoint Investment Group Inc. lifted its position in Dayforce by 1.1% during the third quarter. EdgePoint Investment Group Inc. now owns 10,624,105 shares of the company’s stock valued at $650,726,000 after buying an additional 112,086 shares during the period. Janus Henderson Group PLC boosted its holdings in shares of Dayforce by 1.9% during the 3rd quarter. Janus Henderson Group PLC now owns 5,669,154 shares of the company’s stock valued at $347,236,000 after buying an additional 103,794 shares in the last quarter. Dragoneer Investment Group LLC purchased a new stake in shares of Dayforce in the 2nd quarter worth about $193,274,000. Finally, Geode Capital Management LLC increased its stake in shares of Dayforce by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 3,782,024 shares of the company’s stock worth $230,875,000 after acquiring an additional 30,302 shares in the last quarter.

Dayforce Stock Performance

Dayforce stock opened at $73.99 on Tuesday. Dayforce has a fifty-two week low of $47.08 and a fifty-two week high of $82.69. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.15 and a current ratio of 1.15. The stock has a market cap of $11.67 billion, a P/E ratio of 224.22, a price-to-earnings-growth ratio of 3.68 and a beta of 1.26. The firm’s fifty day moving average price is $74.70 and its 200-day moving average price is $61.91.

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.