Analysts Set Dayforce Inc (NYSE:DAY) Price Target at $79.08

Shares of Dayforce Inc (NYSE:DAY) have been assigned an average rating of “Moderate Buy” from the fifteen brokerages that are covering the firm, Marketbeat reports. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $79.86.

DAY has been the topic of a number of analyst reports. TD Cowen lifted their price objective on shares of Dayforce from $58.00 to $62.00 and gave the stock a “hold” rating in a report on Monday, October 7th. Stifel Nicolaus raised their price target on shares of Dayforce from $82.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Jefferies Financial Group upped their price objective on shares of Dayforce from $55.00 to $65.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. Needham & Company LLC increased their price objective on shares of Dayforce from $82.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Finally, Piper Sandler restated an “overweight” rating and issued a $94.00 target price (up previously from $82.00) on shares of Dayforce in a research note on Wednesday, November 13th.

Insiders Place Their Bets

In related news, COO Stephen H. Holdridge sold 1,000 shares of the stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $65.00, for a total transaction of $65,000.00. Following the sale, the chief operating officer now owns 100,437 shares of the company’s stock, valued at approximately $6,528,405. This represents a 0.99 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jeffrey Scott Jacobs sold 643 shares of Dayforce stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $63.37, for a total value of $40,746.91. Following the transaction, the insider now directly owns 34,074 shares of the company’s stock, valued at $2,159,269.38. The trade was a 1.85 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 865,340 shares of company stock worth $68,770,223 over the last quarter. 4.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Dayforce

A number of large investors have recently modified their holdings of the company. Select Equity Group L.P. purchased a new stake in Dayforce in the 2nd quarter worth approximately $721,310,000. KBC Group NV purchased a new stake in shares of Dayforce in the third quarter worth $946,000. Adero Partners LLC bought a new stake in Dayforce during the third quarter valued at $4,987,000. Sumitomo Mitsui Trust Group Inc. purchased a new position in Dayforce during the third quarter worth about $19,273,000. Finally, Elo Mutual Pension Insurance Co bought a new position in Dayforce in the 2nd quarter worth about $673,000.

Dayforce Stock Down 1.1 %

Shares of NYSE:DAY opened at $73.99 on Tuesday. The business’s 50 day moving average is $74.70 and its 200 day moving average is $61.91. Dayforce has a 12-month low of $47.08 and a 12-month high of $82.69. The stock has a market cap of $11.67 billion, a price-to-earnings ratio of 224.22, a PEG ratio of 3.68 and a beta of 1.26. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.47.

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.