Dayforce (NYSE:DAY) Price Target Increased to $80.00 by Analysts at Mizuho

Dayforce (NYSE:DAY) had its price target increased by Mizuho from $70.00 to $80.00 in a research report released on Monday, Benzinga reports. They currently have an outperform rating on the stock.

A number of other brokerages have also weighed in on DAY. KeyCorp started coverage on shares of Dayforce in a research report on Tuesday, September 24th. They set an “overweight” rating and a $70.00 target price for the company. Piper Sandler upgraded Dayforce from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $68.00 to $71.00 in a research report on Wednesday, July 31st. Citigroup boosted their target price on Dayforce from $74.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. Wells Fargo & Company cut their target price on Dayforce from $64.00 to $52.00 and set an “equal weight” rating for the company in a research note on Friday, June 21st. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Dayforce from $70.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Four analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Dayforce has a consensus rating of “Moderate Buy” and a consensus target price of $70.18.

Dayforce Stock Performance

DAY stock opened at $63.88 on Monday. The firm has a market cap of $10.09 billion, a PE ratio of 193.58, a price-to-earnings-growth ratio of 2.23 and a beta of 1.29. The stock has a 50-day moving average price of $58.37 and a 200-day moving average price of $56.60. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49. Dayforce has a 1-year low of $47.08 and a 1-year high of $74.70.

Dayforce (NYSE:DAY) last released its quarterly earnings data on Wednesday, July 31st. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.05. The firm had revenue of $423.30 million for the quarter, compared to analyst estimates of $417.41 million. Dayforce had a net margin of 2.89% and a return on equity of 6.35%. As a group, equities research analysts expect that Dayforce will post 1.07 earnings per share for the current year.

Insider Buying and Selling at Dayforce

In related news, COO Stephen H. Holdridge sold 1,000 shares of the company’s stock in a transaction 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 directly owns 101,437 shares of the company’s stock, valued at $6,428,062.69. This represents a 0.00 % 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. In other news, COO Stephen H. Holdridge sold 1,000 shares of the stock in a transaction 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 directly owns 101,437 shares of the company’s stock, valued at approximately $6,428,062.69. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jeffrey Scott Jacobs sold 643 shares of the company’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 $40,746.91. Following the completion of the transaction, the insider now owns 34,074 shares in the company, valued at approximately $2,159,269.38. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 4.90% of the company’s stock.

Institutional Investors Weigh In On Dayforce

Several institutional investors and hedge funds have recently added to or reduced their stakes in DAY. V Square Quantitative Management LLC purchased a new position in Dayforce in the third quarter worth about $387,000. Sumitomo Mitsui DS Asset Management Company Ltd purchased a new stake in Dayforce during the third quarter valued at approximately $832,000. Bleakley Financial Group LLC raised its position in Dayforce by 9.9% in the third quarter. Bleakley Financial Group LLC now owns 4,867 shares of the company’s stock worth $298,000 after acquiring an additional 439 shares during the period. Swedbank AB bought a new position in Dayforce in the third quarter worth approximately $5,292,000. Finally, Creative Planning boosted its stake in shares of Dayforce by 87.7% during the 3rd quarter. Creative Planning now owns 10,442 shares of the company’s stock worth $640,000 after acquiring an additional 4,879 shares during 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.