Dayforce (NYSE:DAY) Trading 4.5% Higher – Still a Buy?

Dayforce Inc (NYSE:DAY)’s share price traded up 4.5% during trading on Wednesday . The company traded as high as $69.28 and last traded at $68.23. 220,531 shares traded hands during trading, a decline of 86% from the average session volume of 1,560,347 shares. The stock had previously closed at $65.32.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Jefferies Financial Group upped their price objective on Dayforce from $55.00 to $65.00 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. Citigroup boosted their price target on Dayforce from $74.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Mizuho boosted their price target on Dayforce from $70.00 to $80.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Needham & Company LLC reissued a “buy” rating and set a $82.00 price target on shares of Dayforce in a report on Wednesday, July 31st. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Dayforce from $70.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Five analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Dayforce has an average rating of “Moderate Buy” and an average target price of $69.75.

Dayforce Stock Performance

The stock has a market cap of $11.24 billion, a P/E ratio of 235.53, a price-to-earnings-growth ratio of 2.23 and a beta of 1.29. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.49. The business has a 50 day moving average price of $60.12 and a two-hundred day moving average price of $56.61.

Dayforce (NYSE:DAY) last released its quarterly earnings data on Wednesday, July 31st. The company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.05. The firm had revenue of $423.30 million during the quarter, compared to analyst estimates of $417.41 million. Dayforce had a return on equity of 6.35% and a net margin of 2.89%. On average, sell-side analysts forecast that Dayforce Inc will post 1.07 earnings per share for the current fiscal year.

Insider Activity at Dayforce

In related news, insider Jeffrey Scott Jacobs sold 643 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $63.37, for a total transaction of $40,746.91. Following the completion of the transaction, the insider now directly owns 34,074 shares of the company’s stock, valued at approximately $2,159,269.38. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Jeffrey Scott Jacobs sold 643 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $63.37, for a total transaction of $40,746.91. Following the completion of the transaction, the insider now directly owns 34,074 shares of the company’s stock, valued at approximately $2,159,269.38. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Stephen H. Holdridge sold 1,000 shares of the stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $65.00, for a total value of $65,000.00. Following the transaction, the chief operating officer now directly owns 100,437 shares of the company’s stock, valued at approximately $6,528,405. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,643 shares of company stock valued at $169,117. Insiders own 4.90% of the company’s stock.

Institutional Investors Weigh In On Dayforce

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Financial Perspectives Inc purchased a new stake in Dayforce during the second quarter valued at approximately $28,000. Quent Capital LLC purchased a new stake in Dayforce during the third quarter valued at approximately $28,000. Sentry Investment Management LLC purchased a new stake in Dayforce during the second quarter valued at approximately $33,000. Farther Finance Advisors LLC purchased a new stake in Dayforce during the third quarter valued at approximately $40,000. Finally, Benjamin F. Edwards & Company Inc. purchased a new stake in Dayforce during the second quarter valued at approximately $62,000.

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.