Dayforce, Inc. (NYSE:DAY) Receives Average Recommendation of “Hold” from Analysts

Dayforce, Inc. (NYSE:DAY) has been assigned an average recommendation of “Hold” from the eighteen ratings firms that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $70.3571.

Several research firms have recently commented on DAY. TD Cowen lowered shares of Dayforce from a “buy” rating to a “hold” rating in a report on Thursday, August 21st. KeyCorp downgraded shares of Dayforce from an “overweight” rating to a “sector weight” rating in a research note on Friday, August 22nd. Zacks Research lowered Dayforce from a “hold” rating to a “strong sell” rating in a report on Wednesday, November 5th. Needham & Company LLC reaffirmed a “hold” rating on shares of Dayforce in a research report on Thursday, October 30th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Dayforce from $60.00 to $70.00 and gave the stock a “hold” rating in a research report on Friday, August 22nd.

Insider Activity

In other Dayforce news, EVP Samer Alkharrat sold 3,233 shares of the stock in a transaction dated Friday, October 24th. The shares were sold at an average price of $68.55, for a total transaction of $221,622.15. Following the completion of the sale, the executive vice president directly owned 117,934 shares of the company’s stock, valued at approximately $8,084,375.70. This represents a 2.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP William Everett Mcdonald sold 1,912 shares of the firm’s stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $68.25, for a total transaction of $130,494.00. Following the completion of the sale, the executive vice president owned 101,772 shares in the company, valued at $6,945,939. This represents a 1.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 74,179 shares of company stock valued at $5,081,720. Company insiders own 4.50% of the company’s stock.

Hedge Funds Weigh In On Dayforce

A number of large investors have recently made changes to their positions in the business. Principal Financial Group Inc. increased its position in shares of Dayforce by 53.0% in the 1st quarter. Principal Financial Group Inc. now owns 273,055 shares of the company’s stock valued at $15,927,000 after acquiring an additional 94,635 shares during the period. Teacher Retirement System of Texas purchased a new stake in Dayforce during the 1st quarter valued at about $1,282,000. PNC Financial Services Group Inc. increased its holdings in shares of Dayforce by 3.9% in the first quarter. PNC Financial Services Group Inc. now owns 11,725 shares of the company’s stock valued at $684,000 after purchasing an additional 443 shares during the period. UniSuper Management Pty Ltd increased its holdings in shares of Dayforce by 26.0% in the first quarter. UniSuper Management Pty Ltd now owns 32,741 shares of the company’s stock valued at $1,910,000 after purchasing an additional 6,763 shares during the period. Finally, Andra AP fonden raised its stake in shares of Dayforce by 799.6% in the second quarter. Andra AP fonden now owns 35,578 shares of the company’s stock worth $1,971,000 after purchasing an additional 31,623 shares during the last quarter.

Dayforce Price Performance

DAY opened at $68.91 on Friday. The company has a market capitalization of $11.03 billion, a price-to-earnings ratio of -73.30, a PEG ratio of 2.67 and a beta of 1.20. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.23. Dayforce has a 12-month low of $48.01 and a 12-month high of $82.69. The business’s fifty day simple moving average is $68.70 and its 200-day simple moving average is $62.32.

Dayforce (NYSE:DAY) last released its quarterly earnings data on Wednesday, October 29th. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.19). Dayforce had a negative net margin of 7.91% and a positive return on equity of 6.54%. The firm had revenue of $481.60 million during the quarter, compared to the consensus estimate of $481.22 million. During the same quarter in the previous year, the firm earned $0.47 earnings per share. The business’s revenue was up 9.5% compared to the same quarter last year. On average, equities research analysts anticipate that Dayforce will post 1.48 earnings per share for the current fiscal year.

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.