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

Dayforce, Inc. (NYSE:DAY) has earned a consensus recommendation of “Hold” from the seventeen research firms that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and one has issued a strong buy rating on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $70.3571.

Several equities analysts have issued reports on the stock. Zacks Research raised shares of Dayforce from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 30th. Needham & Company LLC reaffirmed a “hold” rating on shares of Dayforce in a research note on Thursday, October 30th. Weiss Ratings reiterated a “sell (d)” rating on shares of Dayforce in a research note on Monday, December 29th. Finally, UBS Group downgraded Dayforce from a “strong-buy” rating to a “hold” rating in a research report on Saturday, November 15th.

Dayforce Trading Up 1.5%

DAY stock opened at $69.97 on Friday. Dayforce has a 52-week low of $48.01 and a 52-week high of $72.28. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.23. The firm has a market cap of $11.20 billion, a P/E ratio of -74.44, a PEG ratio of 2.13 and a beta of 1.16. The company’s 50-day simple moving average is $69.37 and its 200-day simple moving average is $67.63.

Insider Activity

In other Dayforce news, insider Jeffrey Scott Jacobs sold 500 shares of the business’s stock in a transaction on Monday, January 26th. The stock was sold at an average price of $69.36, for a total transaction of $34,680.00. Following the transaction, the insider owned 48,901 shares of the company’s stock, valued at approximately $3,391,773.36. The trade was a 1.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 4.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Dayforce

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Pentwater Capital Management LP purchased a new position in shares of Dayforce during the 3rd quarter worth approximately $378,895,000. Norges Bank purchased a new stake in Dayforce during the 4th quarter worth approximately $252,876,000. Bank of Nova Scotia increased its position in shares of Dayforce by 54,729.6% during the fourth quarter. Bank of Nova Scotia now owns 2,403,731 shares of the company’s stock worth $166,242,000 after acquiring an additional 2,399,347 shares during the period. EdgePoint Investment Group Inc. grew its stake in Dayforce by 17.2% during the 2nd quarter. EdgePoint Investment Group Inc. now owns 16,244,490 shares of the company’s stock worth $899,782,000 after purchasing an additional 2,383,969 shares in the last quarter. Finally, Syquant Capital Sas purchased a new position in shares of Dayforce in the 4th quarter valued at about $159,465,000.

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.