Dayforce (NYSE:DAY) Price Target Raised to $65.00

Dayforce (NYSE:DAY) had its price objective raised by Jefferies Financial Group from $55.00 to $65.00 in a report published on Tuesday, Benzinga reports. They currently have a hold rating on the stock.

Several other research firms also recently issued reports on DAY. Deutsche Bank Aktiengesellschaft upped their price target on Dayforce from $70.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Mizuho upped their target price on Dayforce from $70.00 to $80.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Needham & Company LLC reissued a “buy” rating and issued a $82.00 price target on shares of Dayforce in a research report on Wednesday, July 31st. TD Cowen upped their price objective on shares of Dayforce from $58.00 to $62.00 and gave the stock a “hold” rating in a report on Monday, October 7th. Finally, Piper Sandler upgraded shares of Dayforce from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $68.00 to $71.00 in a report on Wednesday, July 31st. Five analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $69.75.

Dayforce Price Performance

Shares of DAY opened at $65.06 on Tuesday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.11 and a current ratio of 1.11. The firm has a market cap of $10.27 billion, a PE ratio of 197.15, a PEG ratio of 2.23 and a beta of 1.29. The firm’s 50 day moving average price is $59.53 and its 200 day moving average price is $56.63. Dayforce has a twelve month low of $47.08 and a twelve month high of $74.66.

Dayforce (NYSE:DAY) last released its quarterly earnings results 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 business had revenue of $423.30 million for the quarter, compared to the consensus estimate of $417.41 million. Dayforce had a net margin of 2.89% and a return on equity of 6.35%. As a group, research analysts expect that Dayforce will post 1.07 EPS for the current fiscal year.

Insider Activity at Dayforce

In other news, 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 transaction of $40,746.91. Following the sale, the insider now owns 34,074 shares of the company’s stock, valued at approximately $2,159,269.38. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, COO Stephen H. Holdridge sold 1,000 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $63.37, for a total value of $63,370.00. Following the completion of the transaction, the chief operating officer now 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jeffrey Scott Jacobs sold 643 shares of Dayforce stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $63.37, for a total value of $40,746.91. Following the sale, the insider now directly owns 34,074 shares in the company, valued at $2,159,269.38. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,643 shares of company stock worth $169,117 over the last three months. Company insiders own 4.90% of the company’s stock.

Hedge Funds Weigh In On Dayforce

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Financial Perspectives Inc acquired a new position in Dayforce during the second quarter worth $28,000. Quent Capital LLC acquired a new position in Dayforce in the third quarter valued at about $28,000. Sentry Investment Management LLC bought a new stake in Dayforce during the second quarter worth about $33,000. Benjamin F. Edwards & Company Inc. acquired a new stake in shares of Dayforce during the second quarter worth approximately $62,000. Finally, Brown Brothers Harriman & Co. bought a new position in shares of Dayforce in the second quarter valued at approximately $66,000.

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.