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

Shares of Dayforce, Inc. (NYSE:DAY) have received an average rating of “Hold” from the eighteen ratings firms that are currently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $70.3571.

Several equities research analysts have recently weighed in on the company. Piper Sandler raised Dayforce to a “strong-buy” rating in a research report on Tuesday, August 19th. Zacks Research cut shares of Dayforce from a “hold” rating to a “strong sell” rating in a research note on Wednesday, November 5th. Wells Fargo & Company raised shares of Dayforce from a “strong sell” rating to an “equal weight” rating and increased their price target for the company from $50.00 to $70.00 in a report on Friday, August 22nd. Deutsche Bank Aktiengesellschaft raised their price target on shares of Dayforce from $60.00 to $70.00 and gave the stock a “hold” rating in a research report on Friday, August 22nd. Finally, Needham & Company LLC restated a “hold” rating on shares of Dayforce in a report on Thursday, October 30th.

Dayforce Trading Down 0.0%

Shares of NYSE:DAY opened at $69.05 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. The stock’s 50-day moving average is $68.73 and its 200-day moving average is $63.66. The company has a market cap of $11.05 billion, a P/E ratio of -73.45, a P/E/G ratio of 2.66 and a beta of 1.20. Dayforce has a 52-week low of $48.01 and a 52-week high of $79.63.

Dayforce (NYSE:DAY) last announced its earnings results 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). The business had revenue of $481.60 million for the quarter, compared to the consensus estimate of $481.22 million. Dayforce had a negative net margin of 7.91% and a positive return on equity of 6.54%. Dayforce’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.47 EPS. Equities research analysts predict that Dayforce will post 1.48 earnings per share for the current year.

Insider Activity at Dayforce

In other news, EVP Samer Alkharrat sold 3,233 shares of Dayforce stock in a transaction that occurred on Friday, October 24th. The stock was sold at an average price of $68.55, for a total transaction of $221,622.15. Following the sale, the executive vice president owned 117,934 shares of the company’s stock, valued at approximately $8,084,375.70. This trade represents a 2.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Price T. Rowe Associates Inc /M sold 39,558 shares of the business’s stock in a transaction that occurred on Thursday, October 30th. The shares were sold at an average price of $68.45, for a total value of $2,707,745.10. Following the sale, the insider owned 24,753,418 shares in the company, valued at approximately $1,694,371,462.10. This represents a 0.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 76,179 shares of company stock worth $5,219,460 over the last three months. Company insiders own 4.50% of the company’s stock.

Institutional Investors Weigh In On Dayforce

A number of institutional investors have recently bought and sold shares of the business. UMB Bank n.a. raised its stake in shares of Dayforce by 82.6% in the 3rd quarter. UMB Bank n.a. now owns 431 shares of the company’s stock valued at $30,000 after buying an additional 195 shares in the last quarter. MUFG Securities EMEA plc acquired a new stake in shares of Dayforce during the 2nd quarter valued at about $26,000. Quent Capital LLC bought a new stake in Dayforce in the third quarter valued at about $34,000. SVB Wealth LLC bought a new stake in Dayforce in the first quarter valued at about $30,000. Finally, National Pension Service raised its position in Dayforce by 74.5% in the first quarter. National Pension Service now owns 541 shares of the company’s stock worth $32,000 after purchasing an additional 231 shares in 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.