Dayforce (NYSE:DAY) Stock Price Expected to Rise, Barclays Analyst Says

Dayforce (NYSE:DAY) had its price target boosted by Barclays from $70.00 to $80.00 in a report issued on Wednesday,Benzinga reports. Barclays currently has an equal weight rating on the stock.

A number of other brokerages also recently issued reports on DAY. BMO Capital Markets raised their price target on Dayforce from $80.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday. KeyCorp assumed coverage on shares of Dayforce in a research note on Tuesday, September 24th. They set an “overweight” rating and a $70.00 price target for the company. Needham & Company LLC increased their price objective on shares of Dayforce from $82.00 to $95.00 and gave the stock a “buy” rating in a research report on Wednesday. Mizuho boosted their target price on Dayforce from $85.00 to $95.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, TD Cowen increased their price target on Dayforce from $58.00 to $62.00 and gave the stock a “hold” rating in a report on Monday, October 7th. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Dayforce currently has a consensus rating of “Moderate Buy” and an average target price of $79.08.

Dayforce Trading Down 2.8 %

Shares of DAY stock opened at $74.56 on Wednesday. The company has a market cap of $11.76 billion, a PE ratio of 225.95, a price-to-earnings-growth ratio of 3.62 and a beta of 1.27. Dayforce has a 1 year low of $47.08 and a 1 year high of $81.32. The stock’s 50 day simple moving average is $65.44 and its two-hundred day simple moving average is $58.17. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.15 and a quick ratio of 1.15.

Insider Activity

In related news, COO Stephen H. Holdridge sold 1,000 shares of the company’s 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 $63,370.00. Following the sale, the chief operating officer now owns 101,437 shares in the company, valued at $6,428,062.69. This represents a 0.98 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jeffrey Scott Jacobs sold 643 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $63.37, for a total transaction 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. This represents a 1.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,643 shares of company stock worth $384,617. Company insiders own 4.90% of the company’s stock.

Institutional Trading of Dayforce

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Select Equity Group L.P. acquired a new stake in shares of Dayforce during the 2nd quarter valued at about $721,310,000. EdgePoint Investment Group Inc. boosted its position in Dayforce by 1.1% during the third quarter. EdgePoint Investment Group Inc. now owns 10,624,105 shares of the company’s stock worth $650,726,000 after purchasing an additional 112,086 shares in the last quarter. Janus Henderson Group PLC grew its holdings in Dayforce by 1.9% in the third quarter. Janus Henderson Group PLC now owns 5,669,154 shares of the company’s stock valued at $347,236,000 after purchasing an additional 103,794 shares during the period. Dragoneer Investment Group LLC purchased a new stake in shares of Dayforce in the second quarter valued at approximately $193,274,000. Finally, Geode Capital Management LLC raised its stake in shares of Dayforce by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 3,782,024 shares of the company’s stock worth $230,875,000 after buying an additional 30,302 shares during the period.

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.