BMO Capital Markets Forecasts Strong Price Appreciation for Dayforce (NYSE:DAY) Stock

Dayforce (NYSE:DAY) had its price target increased by BMO Capital Markets from $80.00 to $90.00 in a research report released on Wednesday, MarketBeat Ratings reports. They currently have an outperform rating on the stock.

A number of other research analysts also recently issued reports on the stock. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Dayforce from $70.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Barclays increased their price target on Dayforce from $63.00 to $70.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. Needham & Company LLC reissued a “buy” rating and issued a $82.00 price objective on shares of Dayforce in a research note on Thursday, October 31st. KeyCorp began coverage on Dayforce in a research note on Tuesday, September 24th. They set an “overweight” rating and a $70.00 target price for the company. Finally, Jefferies Financial Group boosted their price target on Dayforce from $55.00 to $65.00 and gave the company a “hold” rating in a research note on Tuesday, October 22nd. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $79.08.

Dayforce Trading Down 2.3 %

NYSE DAY opened at $77.17 on Wednesday. The firm has a market capitalization of $12.17 billion, a PE ratio of 233.86, a price-to-earnings-growth ratio of 3.71 and a beta of 1.27. The business’s 50-day moving average price is $64.14 and its two-hundred day moving average price is $57.82. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.47. Dayforce has a 12 month low of $47.08 and a 12 month high of $81.32.

Insider Activity at Dayforce

In other news, COO Stephen H. Holdridge sold 1,000 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $63.37, for a total transaction of $63,370.00. Following the completion of the sale, the chief operating officer now directly owns 101,437 shares of the company’s stock, valued at $6,428,062.69. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Jeffrey Scott Jacobs sold 643 shares of the 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 directly owns 34,074 shares of the company’s stock, valued at $2,159,269.38. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Stephen H. Holdridge sold 1,000 shares of the firm’s 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 $63,370.00. Following the completion of the transaction, the chief operating officer now owns 101,437 shares in the company, valued at $6,428,062.69. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,643 shares of company stock valued at $384,617. 4.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Dayforce

Several institutional investors have recently bought and sold shares of the stock. Select Equity Group L.P. bought a new stake in Dayforce in the 2nd quarter worth about $721,310,000. Elo Mutual Pension Insurance Co purchased a new position in shares of Dayforce in the 2nd quarter worth approximately $673,000. State of New Jersey Common Pension Fund D bought a new position in shares of Dayforce in the second quarter valued at approximately $2,760,000. Vanguard Personalized Indexing Management LLC purchased a new stake in shares of Dayforce during the second quarter valued at approximately $663,000. Finally, Royal London Asset Management Ltd. purchased a new stake in shares of Dayforce during the second quarter valued at approximately $2,942,000.

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.