Dayforce Inc (NYSE:DAY) Receives $71.29 Average Target Price from Analysts

Shares of Dayforce Inc (NYSE:DAY) have received a consensus rating of “Moderate Buy” from the fourteen analysts that are currently covering the stock, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $71.54.

DAY has been the topic of a number of research reports. Barclays decreased their target price on shares of Dayforce from $61.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 8th. Stifel Nicolaus decreased their target price on shares of Dayforce from $90.00 to $85.00 and set a “buy” rating on the stock in a research note on Thursday, February 6th. Cowen raised shares of Dayforce from a “hold” rating to a “buy” rating in a research note on Friday, March 7th. KeyCorp reduced their price objective on shares of Dayforce from $80.00 to $65.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 22nd. Finally, Needham & Company LLC reissued a “buy” rating and issued a $95.00 price objective on shares of Dayforce in a research note on Thursday, May 8th.

Insider Buying and Selling at Dayforce

In other news, EVP Samer Alkharrat sold 1,916 shares of the company’s stock in a transaction dated Friday, April 25th. The shares were sold at an average price of $56.64, for a total transaction 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP William Everett Mcdonald sold 2,000 shares of the company’s stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $56.16, for a total transaction of $112,320.00. Following the transaction, the executive vice president now owns 105,691 shares in the company, valued at $5,935,606.56. This represents a 1.86% decrease in their position. The disclosure for this sale can be found here. Insiders own 4.50% of the company’s stock.

Hedge Funds Weigh In On Dayforce

Institutional investors have recently made changes to their positions in the stock. 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 worth $1,323,000 after acquiring an additional 179 shares during the last quarter. Metis Global Partners LLC raised its holdings in shares of Dayforce by 3.8% in the 4th quarter. Metis Global Partners LLC now owns 5,261 shares of the company’s stock worth $382,000 after acquiring an additional 193 shares during the last quarter. Covestor Ltd raised its holdings in shares of Dayforce by 15.6% in the 1st quarter. Covestor Ltd now owns 1,430 shares of the company’s stock worth $83,000 after acquiring an additional 193 shares during the last quarter. HighTower Advisors LLC raised its holdings in shares of Dayforce by 3.5% in the 1st quarter. HighTower Advisors LLC now owns 5,931 shares of the company’s stock worth $346,000 after acquiring an additional 203 shares during the last quarter. Finally, Stifel Financial Corp raised its holdings in shares of Dayforce by 4.1% in the 4th quarter. Stifel Financial Corp now owns 5,206 shares of the company’s stock worth $378,000 after acquiring an additional 205 shares during the last quarter.

Dayforce Stock Performance

NYSE DAY opened at $58.85 on Friday. The firm’s fifty day moving average price is $56.80 and its two-hundred day moving average price is $66.21. The stock has a market cap of $9.41 billion, a PE ratio of 535.05, a PEG ratio of 2.49 and a beta of 1.17. 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 1.13.

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.