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

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

Several equities research analysts have recently weighed in on DAY shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Dayforce in a report on Thursday, October 30th. UBS Group lowered shares of Dayforce from a “strong-buy” rating to a “hold” rating in a report on Saturday, November 15th. Weiss Ratings reissued a “sell (d)” rating on shares of Dayforce in a report on Monday. Zacks Research cut Dayforce from a “hold” rating to a “strong sell” rating in a report on Wednesday, November 5th. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $70.00 price objective (down previously from $72.00) on shares of Dayforce in a research report on Friday, September 19th.

Dayforce Stock Up 0.1%

NYSE DAY opened at $69.19 on Friday. Dayforce has a 1-year low of $48.01 and a 1-year high of $75.14. The company has a market capitalization of $11.07 billion, a price-to-earnings ratio of -73.61, a PEG ratio of 2.76 and a beta of 1.20. The stock’s 50 day moving average is $68.89 and its two-hundred day moving average is $64.62. 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 (NYSE:DAY) last announced its quarterly earnings results on Wednesday, October 29th. The company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $481.60 million during the quarter, compared to the consensus estimate of $481.22 million. During the same quarter last year, the company earned $0.47 earnings per share. The business’s revenue was up 9.5% on a year-over-year basis. Equities analysts forecast that Dayforce will post 1.48 earnings per share for the current fiscal year.

Insider Activity at Dayforce

In other Dayforce news, major shareholder Price T. Rowe Associates Inc /M sold 10,147 shares of the business’s stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $68.74, for a total value of $697,504.78. Following the completion of the transaction, the insider directly owned 24,743,271 shares of the company’s stock, valued at approximately $1,700,852,448.54. The trade was a 0.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Stephen H. Holdridge sold 2,000 shares of the stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $68.87, for a total transaction of $137,740.00. Following the sale, the chief operating officer directly owned 178,814 shares in the company, valued at $12,314,920.18. This trade represents a 1.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 70,947 shares of company stock worth $4,859,263. 4.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of DAY. CIBC Bancorp USA Inc. bought a new position in Dayforce in the third quarter valued at approximately $1,123,000. Danske Bank A S bought a new position in shares of Dayforce in the 3rd quarter worth $110,000. Morningstar Investment Management LLC acquired a new stake in shares of Dayforce during the third quarter worth $1,086,000. Armistice Capital LLC acquired a new stake in shares of Dayforce during the third quarter worth $576,000. Finally, Utah Retirement Systems increased its holdings in Dayforce by 1.9% in the third quarter. Utah Retirement Systems now owns 25,397 shares of the company’s stock valued at $1,750,000 after purchasing an additional 474 shares during the last quarter.

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. The company also provides payroll and payroll-related services; and implementation and professional services.