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

Dayforce, Inc. (NYSE:DAY) has earned a consensus recommendation of “Hold” from the eighteen brokerages that are presently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, fourteen have given a hold recommendation, one has assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $70.3571.

A number of analysts have commented on the stock. Citigroup cut shares of Dayforce from a “buy” rating to a “neutral” rating and set a $70.00 price target on the stock. in a research report on Wednesday, September 17th. Weiss Ratings restated a “sell (d)” rating on shares of Dayforce in a research report on Tuesday, November 25th. BMO Capital Markets reaffirmed a “market perform” rating and set a $70.00 target price (up previously from $67.00) on shares of Dayforce in a research note on Friday, August 22nd. Zacks Research lowered Dayforce from a “hold” rating to a “strong sell” rating in a research note on Wednesday, November 5th. Finally, TD Cowen cut Dayforce from a “buy” rating to a “hold” rating in a report on Thursday, August 21st.

Dayforce Stock Performance

NYSE:DAY opened at $69.13 on Tuesday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.04 and a current ratio of 1.04. Dayforce has a fifty-two week low of $48.01 and a fifty-two week high of $81.93. The company has a 50 day simple moving average of $68.71 and a two-hundred day simple moving average of $63.30. The company has a market capitalization of $11.06 billion, a PE ratio of -73.54, a P/E/G ratio of 2.67 and a beta of 1.20.

Dayforce (NYSE:DAY) last issued its quarterly earnings results on Wednesday, October 29th. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.19). Dayforce had a positive return on equity of 6.54% and a negative net margin of 7.91%.The firm had revenue of $481.60 million during the quarter, compared to analyst estimates of $481.22 million. During the same quarter last year, the firm posted $0.47 EPS. The firm’s revenue for the quarter was up 9.5% on a year-over-year basis. Research analysts anticipate that Dayforce will post 1.48 earnings per share for the current year.

Insider Transactions at Dayforce

In related news, COO Stephen H. Holdridge sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $68.87, for a total transaction of $137,740.00. Following the transaction, the chief operating officer directly owned 178,814 shares of the company’s stock, valued at approximately $12,314,920.18. This represents a 1.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP William Everett Mcdonald sold 1,912 shares of the stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $68.25, for a total value of $130,494.00. Following the completion of the transaction, the executive vice president owned 101,772 shares in the company, valued at approximately $6,945,939. The trade was a 1.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 76,179 shares of company stock valued at $5,219,460. 4.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Dayforce

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. LPL Financial LLC lifted its holdings in Dayforce by 83.5% during the first quarter. LPL Financial LLC now owns 60,716 shares of the company’s stock worth $3,542,000 after acquiring an additional 27,637 shares during the period. XTX Topco Ltd purchased a new stake in shares of Dayforce during the 1st quarter valued at $486,000. PNC Financial Services Group Inc. raised its stake in shares of Dayforce by 3.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 11,725 shares of the company’s stock worth $684,000 after purchasing an additional 443 shares during the period. ASR Vermogensbeheer N.V. purchased a new position in shares of Dayforce in the 1st quarter worth about $731,000. Finally, Charles Schwab Investment Management Inc. grew its position in Dayforce by 4.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,460,591 shares of the company’s stock valued at $85,196,000 after buying an additional 60,963 shares during the period.

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.