Dayforce Inc (NYSE:DAY) Receives $71.57 Consensus PT from Analysts

Dayforce Inc (NYSE:DAY) has been given a consensus rating of “Moderate Buy” by the fifteen ratings firms that are currently covering the stock, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $71.57.

DAY has been the subject of a number of recent analyst reports. Cowen upgraded shares of Dayforce from a “hold” rating to a “buy” rating in a research report on Friday, March 7th. 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 research report on Thursday, May 8th. Scotiabank dropped their target price on shares of Dayforce from $72.00 to $55.00 and set a “sector perform” rating for the company in a research report on Monday, March 17th. TD Cowen upgraded shares of Dayforce from a “hold” rating to a “buy” rating and increased their target price for the stock from $67.00 to $68.00 in a research report on Friday, March 7th. Finally, BMO Capital Markets restated an “outperform” rating on shares of Dayforce in a research report on Tuesday.

Insider Transactions at Dayforce

In related news, EVP Samer Alkharrat sold 1,916 shares of Dayforce 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 transaction, the executive vice president now owns 150,237 shares of the company’s stock, valued at $8,509,423.68. This trade represents a 1.26% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP William Everett Mcdonald sold 2,000 shares of Dayforce 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 $5,935,606.56. The trade was a 1.86% decrease in their position. The disclosure for this sale can be found here. 4.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. SVB Wealth LLC bought a new position in Dayforce in the first quarter valued at approximately $30,000. National Pension Service lifted its stake in Dayforce by 74.5% in the first quarter. National Pension Service now owns 541 shares of the company’s stock valued at $32,000 after buying an additional 231 shares in the last quarter. Mather Group LLC. lifted its stake in Dayforce by 196.9% in the first quarter. Mather Group LLC. now owns 962 shares of the company’s stock valued at $56,000 after buying an additional 638 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new position in Dayforce in the fourth quarter valued at approximately $61,000. Finally, Federated Hermes Inc. bought a new position in Dayforce in the fourth quarter valued at approximately $72,000.

Dayforce Price Performance

NYSE:DAY opened at $59.55 on Tuesday. The company has a 50-day moving average of $57.25 and a 200-day moving average of $64.04. The company has a market capitalization of $9.52 billion, a price-to-earnings ratio of 541.41, a PEG ratio of 2.49 and a beta of 1.12. Dayforce has a 52 week low of $47.08 and a 52 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.

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.