Jefferies Financial Group Cuts Dayforce (NYSE:DAY) Price Target to $75.00

Dayforce (NYSE:DAY) had its price objective decreased by Jefferies Financial Group from $80.00 to $75.00 in a research note published on Thursday,Benzinga reports. Jefferies Financial Group currently has a hold rating on the stock.

A number of other analysts also recently issued reports on the company. BMO Capital Markets lifted their target price on Dayforce from $80.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Mizuho lifted their price target on Dayforce from $85.00 to $95.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Scotiabank assumed coverage on Dayforce in a report on Monday, November 18th. They set a “sector perform” rating and a $75.00 price target for the company. Needham & Company LLC reiterated a “buy” rating and set a $95.00 price target on shares of Dayforce in a report on Thursday. Finally, Piper Sandler reiterated an “overweight” rating and set a $83.00 price target (down previously from $94.00) on shares of Dayforce in a report on Wednesday. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $78.64.

Dayforce Stock Performance

DAY opened at $65.59 on Thursday. The business’s 50-day moving average price is $73.63 and its two-hundred day moving average price is $66.39. Dayforce has a 1 year low of $47.08 and a 1 year high of $82.69. The company has a market capitalization of $10.34 billion, a price-to-earnings ratio of 198.78, a P/E/G ratio of 2.59 and a beta of 1.26. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.15 and a quick ratio of 1.15.

Dayforce (NYSE:DAY) last released its quarterly earnings results on Wednesday, February 5th. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.09). Dayforce had a net margin of 3.12% and a return on equity of 6.69%. Equities analysts expect that Dayforce will post 1.07 EPS for the current fiscal year.

Insider Activity at Dayforce

In other Dayforce news, CEO David D. Ossip sold 858,697 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $79.55, for a total transaction of $68,309,346.35. Following the completion of the transaction, the chief executive officer now directly owns 794,527 shares in the company, valued at $63,204,622.85. The trade was a 51.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Stephen H. Holdridge sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $71.33, for a total transaction of $71,330.00. Following the transaction, the chief operating officer now owns 119,022 shares of the company’s stock, valued at approximately $8,489,839.26. This represents a 0.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 860,697 shares of company stock worth $68,456,936. Company insiders own 4.90% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Metis Global Partners LLC raised its position in Dayforce by 3.8% during the 4th quarter. Metis Global Partners LLC now owns 5,261 shares of the company’s stock worth $382,000 after purchasing an additional 193 shares during the last quarter. Bleakley Financial Group LLC raised its position in shares of Dayforce by 9.9% in the 3rd quarter. Bleakley Financial Group LLC now owns 4,867 shares of the company’s stock worth $298,000 after acquiring an additional 439 shares in the last quarter. Smartleaf Asset Management LLC increased its position in Dayforce by 69.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,227 shares of the company’s stock valued at $89,000 after buying an additional 501 shares in the last quarter. HighTower Advisors LLC increased its position in Dayforce by 11.0% in the 3rd quarter. HighTower Advisors LLC now owns 6,083 shares of the company’s stock valued at $368,000 after buying an additional 602 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D increased its position in Dayforce by 1.1% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 56,294 shares of the company’s stock valued at $3,448,000 after buying an additional 640 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.