Dayforce (NYSE:DAY) Price Target Raised to $92.00

Dayforce (NYSE:DAY) had its price target hoisted by KeyCorp from $80.00 to $92.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

DAY has been the topic of several other reports. TD Cowen raised their price objective on Dayforce from $58.00 to $62.00 and gave the company a “hold” rating in a research note on Monday, October 7th. Piper Sandler reaffirmed an “overweight” rating and issued a $94.00 price objective (up from $82.00) on shares of Dayforce in a research note on Wednesday. Barclays raised their price objective on Dayforce from $70.00 to $80.00 and gave the company an “equal weight” rating in a research note on Wednesday. Jefferies Financial Group raised their price objective on Dayforce from $55.00 to $65.00 and gave the company a “hold” rating in a research note on Tuesday, October 22nd. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Dayforce from $70.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, Dayforce has a consensus rating of “Moderate Buy” and a consensus target price of $79.08.

Dayforce Stock Performance

DAY opened at $74.56 on Wednesday. The firm has a market cap of $11.76 billion, a P/E ratio of 225.95, a price-to-earnings-growth ratio of 3.62 and a beta of 1.27. Dayforce has a 52-week low of $47.08 and a 52-week high of $81.32. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.15 and a current ratio of 1.15. The business’s fifty day moving average is $65.04 and its 200-day moving average is $58.09.

Insider Transactions at Dayforce

In other news, COO Stephen H. Holdridge sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $63.37, for a total transaction of $63,370.00. Following the completion of the transaction, the chief operating officer now directly owns 101,437 shares in the company, valued at $6,428,062.69. This trade represents a 0.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jeffrey Scott Jacobs sold 643 shares of Dayforce stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $63.37, for a total value of $40,746.91. Following the completion of the sale, the insider now owns 34,074 shares of the company’s stock, valued at approximately $2,159,269.38. The trade was a 1.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,643 shares of company stock worth $384,617 over the last ninety days. 4.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Dayforce

A number of hedge funds have recently added to or reduced their stakes in the business. M&T Bank Corp bought a new stake in Dayforce in the third quarter worth approximately $505,000. Nomura Asset Management Co. Ltd. increased its holdings in Dayforce by 16.1% in the third quarter. Nomura Asset Management Co. Ltd. now owns 43,430 shares of the company’s stock worth $2,660,000 after purchasing an additional 6,022 shares in the last quarter. National Bank of Canada FI bought a new stake in Dayforce in the third quarter worth approximately $179,000. EdgePoint Investment Group Inc. grew its stake in Dayforce by 1.1% in the third quarter. EdgePoint Investment Group Inc. now owns 10,624,105 shares of the company’s stock valued at $650,726,000 after acquiring an additional 112,086 shares during the period. Finally, Weiss Asset Management LP acquired a new stake in Dayforce in the third quarter valued at approximately $1,513,000.

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.