Dayforce Inc (NYSE:DAY) Receives Average Recommendation of “Moderate Buy” from Brokerages

Dayforce Inc (NYSE:DAY) has been assigned an average recommendation of “Moderate Buy” from the fifteen brokerages that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and ten have given a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $70.86.

DAY has been the topic of several analyst reports. Scotiabank cut their price target on Dayforce from $72.00 to $55.00 and set a “sector perform” rating on the stock in a research report on Monday, March 17th. Wells Fargo & Company lowered shares of Dayforce from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $60.00 to $50.00 in a research note on Friday. Cowen raised shares of Dayforce from a “hold” rating to a “buy” rating in a research report on Friday, March 7th. TD Cowen raised shares of Dayforce from a “hold” rating to a “buy” rating and lifted their price target for the company from $67.00 to $68.00 in a research report on Friday, March 7th. Finally, Barclays dropped their target price on shares of Dayforce from $61.00 to $60.00 and set an “equal weight” rating for the company in a report on Thursday, May 8th.

Insider Buying and Selling at Dayforce

In related news, EVP Samer Alkharrat sold 1,916 shares of the firm’s stock in a transaction that occurred on Friday, April 25th. The shares were sold at an average price of $56.64, for a total transaction of $108,522.24. Following the sale, the executive vice president now owns 150,237 shares in the company, valued at approximately $8,509,423.68. This trade represents a 1.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP William Everett Mcdonald sold 2,000 shares of the stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $56.16, for a total transaction of $112,320.00. Following the transaction, the executive vice president now directly owns 105,691 shares in the company, valued at approximately $5,935,606.56. This represents a 1.86% decrease in their position. The disclosure for this sale can be found here. 4.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Dayforce

A number of large investors have recently bought and sold shares of DAY. Xponance Inc. grew its stake in shares of Dayforce by 0.8% in the first quarter. Xponance Inc. now owns 22,673 shares of the company’s stock valued at $1,323,000 after buying an additional 179 shares in the last quarter. Metis Global Partners LLC boosted 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 valued at $382,000 after buying an additional 193 shares during the period. Covestor Ltd boosted 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 valued at $83,000 after buying an additional 193 shares during the period. HighTower Advisors LLC boosted its stake in Dayforce by 3.5% during the 1st quarter. HighTower Advisors LLC now owns 5,931 shares of the company’s stock valued at $346,000 after purchasing an additional 203 shares during the period. Finally, Stifel Financial Corp raised its position in shares of Dayforce by 4.1% during the 4th quarter. Stifel Financial Corp now owns 5,206 shares of the company’s stock worth $378,000 after buying an additional 205 shares in the last quarter.

Dayforce Stock Performance

Shares of DAY opened at $56.97 on Tuesday. The firm has a market cap of $9.11 billion, a PE ratio of 517.96, a P/E/G ratio of 2.49 and a beta of 1.12. The company has a current ratio of 1.13, a quick ratio of 1.15 and a debt-to-equity ratio of 0.47. The stock has a fifty day moving average price of $57.41 and a 200-day moving average price of $63.77. Dayforce has a 12 month low of $47.08 and a 12 month high of $82.69.

About Dayforce

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.