Dayforce Inc (NYSE:DAY) Receives Consensus Rating of “Moderate Buy” from Analysts

Dayforce Inc (NYSE:DAY) has received an average recommendation of “Moderate Buy” from the six brokerages that are presently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $73.40.

A number of research firms have recently weighed in on DAY. Barclays dropped their target price on Dayforce from $74.00 to $62.00 and set an “equal weight” rating for the company in a research report on Thursday. Piper Sandler decreased their price objective on Dayforce from $75.00 to $68.00 and set a “neutral” rating for the company in a report on Thursday. Needham & Company LLC reissued a “buy” rating and issued a $82.00 price target on shares of Dayforce in a research note on Thursday. Mizuho reduced their target price on Dayforce from $95.00 to $80.00 and set a “buy” rating on the stock in a report on Monday. Finally, William Blair reissued an “outperform” rating on shares of Dayforce in a research note on Thursday.

Dayforce Stock Up 1.7 %

NYSE:DAY traded up $0.95 during trading hours on Monday, hitting $58.24. 315,761 shares of the stock traded hands, compared to its average volume of 1,458,446. The stock has a market capitalization of $9.20 billion, a P/E ratio of 176.01, a price-to-earnings-growth ratio of 3.89 and a beta of 1.30. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.50. The firm has a 50 day moving average of $64.38. Dayforce has a 1 year low of $54.25 and a 1 year high of $75.53.

Dayforce (NYSE:DAY) last posted its quarterly earnings results on Wednesday, February 7th. The company reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.26. The company had revenue of $399.70 million for the quarter, compared to analyst estimates of $400.14 million. Dayforce had a return on equity of 5.38% and a net margin of 3.30%. Equities analysts forecast that Dayforce will post 0.89 earnings per share for the current fiscal year.

Insider Activity

In other news, COO Christopher R. Armstrong sold 60,000 shares of the business’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $69.14, for a total transaction of $4,148,400.00. Following the completion of the transaction, the chief operating officer now owns 149,319 shares of the company’s stock, valued at approximately $10,323,915.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 4.90% of the stock is currently owned by company insiders.

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.