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

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

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

Insiders Place Their Bets

In other news, major shareholder Price T. Rowe Associates Inc /M sold 10,147 shares of the firm’s stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $68.74, for a total transaction of $697,504.78. Following the transaction, the insider directly owned 24,743,271 shares of the company’s stock, valued at approximately $1,700,852,448.54. This trade represents a 0.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Stephen H. Holdridge sold 2,000 shares of the business’s stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $68.87, for a total value of $137,740.00. Following the completion of the sale, the chief operating officer directly owned 178,814 shares of the company’s stock, valued at approximately $12,314,920.18. This trade represents a 1.11% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 51,705 shares of company stock valued at $3,542,990 in the last ninety days. 4.50% of the stock is owned by corporate insiders.

Institutional Trading of Dayforce

Hedge funds and other institutional investors have recently bought and sold shares of the stock. UMB Bank n.a. increased its stake in shares of Dayforce by 82.6% in the third quarter. UMB Bank n.a. now owns 431 shares of the company’s stock worth $30,000 after buying an additional 195 shares during the period. True Wealth Design LLC increased its position in shares of Dayforce by 419.1% in the fourth quarter. True Wealth Design LLC now owns 462 shares of the company’s stock valued at $32,000 after acquiring an additional 373 shares during the period. MUFG Securities EMEA plc purchased a new position in shares of Dayforce in the second quarter valued at about $26,000. Quent Capital LLC bought a new position in shares of Dayforce during the third quarter valued at about $34,000. Finally, Assetmark Inc. boosted its holdings in shares of Dayforce by 701.4% during the second quarter. Assetmark Inc. now owns 561 shares of the company’s stock worth $31,000 after purchasing an additional 491 shares during the period.

Dayforce Stock Performance

Shares of Dayforce stock opened at $69.34 on Wednesday. The firm has a market capitalization of $11.10 billion, a P/E ratio of -73.77, a price-to-earnings-growth ratio of 2.12 and a beta of 1.18. Dayforce has a 12 month low of $48.01 and a 12 month high of $75.14. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.23. The business’s fifty day simple moving average is $69.20 and its 200 day simple moving average is $66.61.

Dayforce (NYSE:DAY) last posted its quarterly 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 company 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 quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.47 EPS. As a group, analysts anticipate that Dayforce will post 1.48 EPS 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.