Analysts Set Dayforce, Inc. (NYSE:DAY) PT at $70.36

Shares of Dayforce, Inc. (NYSE:DAY) have been given an average recommendation of “Hold” by the seventeen analysts that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, fifteen have assigned a hold recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $70.3571.

DAY has been the subject of a number of research analyst reports. Weiss Ratings restated a “sell (d)” rating on shares of Dayforce in a report on Monday, December 29th. Needham & Company LLC reissued a “hold” rating on shares of Dayforce in a research report on Thursday, October 30th. UBS Group lowered Dayforce from a “strong-buy” rating to a “hold” rating in a research report on Saturday, November 15th. Finally, Zacks Research upgraded Dayforce from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 30th.

Insider Buying and Selling

In other Dayforce news, major shareholder Price T. Rowe Associates Inc /M sold 39,558 shares of the company’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 transaction, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Stephen H. Holdridge sold 2,000 shares of Dayforce stock in a transaction 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 of the company’s stock, valued at $12,314,920.18. This trade represents a 1.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 51,705 shares of company stock worth $3,542,990 over the last ninety days. 4.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of DAY. Pentwater Capital Management LP purchased a new stake in shares of Dayforce during the 3rd quarter worth about $378,895,000. EdgePoint Investment Group Inc. increased its holdings in Dayforce by 17.2% in the second quarter. EdgePoint Investment Group Inc. now owns 16,244,490 shares of the company’s stock worth $899,782,000 after buying an additional 2,383,969 shares during the last quarter. Syquant Capital Sas bought a new position in Dayforce during the fourth quarter valued at approximately $159,465,000. Assenagon Asset Management S.A. lifted its stake in Dayforce by 200.2% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,704,564 shares of the company’s stock valued at $117,888,000 after acquiring an additional 1,136,768 shares during the last quarter. Finally, Magnetar Financial LLC acquired a new stake in Dayforce in the third quarter valued at approximately $52,316,000.

Dayforce Price Performance

DAY stock opened at $69.49 on Wednesday. Dayforce has a one year low of $48.01 and a one year high of $75.14. The firm has a 50-day moving average of $69.18 and a two-hundred day moving average of $66.43. The firm has a market capitalization of $11.12 billion, a PE ratio of -73.93, a P/E/G ratio of 2.12 and a beta of 1.18. 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 released 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 negative net margin of 7.91% and a positive return on equity of 6.54%. The firm had revenue of $481.60 million for the quarter, compared to analyst estimates of $481.22 million. During the same quarter in the prior year, the firm earned $0.47 EPS. The firm’s revenue was up 9.5% compared to the same quarter last year. On average, analysts forecast that Dayforce will post 1.48 earnings per share for the current year.

Dayforce Company Profile

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.