Dayforce (NYSE:DAY) Price Target Raised to $70.00 at Barclays

Dayforce (NYSE:DAY) had its price target upped by Barclays from $63.00 to $70.00 in a report published on Thursday, Benzinga reports. The firm currently has an equal weight rating on the stock.

Several other analysts also recently weighed in on DAY. TD Cowen upped their price target on Dayforce from $58.00 to $62.00 and gave the stock a “hold” rating in a research note on Monday, October 7th. Mizuho upped their price objective on Dayforce from $70.00 to $80.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Deutsche Bank Aktiengesellschaft upped their price objective on Dayforce from $70.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. KeyCorp started coverage on Dayforce in a research report on Tuesday, September 24th. They issued an “overweight” rating and a $70.00 price objective on the stock. Finally, Piper Sandler upped their price objective on Dayforce from $71.00 to $82.00 and gave the company an “overweight” rating in a research report on Thursday. Five analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $72.67.

Dayforce Stock Performance

Dayforce stock opened at $70.95 on Thursday. The company has a quick ratio of 1.11, a current ratio of 1.15 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $11.22 billion, a P/E ratio of 215.01, a PEG ratio of 2.52 and a beta of 1.29. The stock’s 50 day moving average is $60.74 and its 200 day moving average is $56.80. Dayforce has a twelve month low of $47.08 and a twelve month high of $74.66.

Dayforce (NYSE:DAY) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.05. The company had revenue of $423.30 million for the quarter, compared to the consensus estimate of $417.41 million. Dayforce had a return on equity of 6.69% and a net margin of 3.12%. On average, equities research analysts predict that Dayforce will post 1.07 earnings per share for the current fiscal year.

Insider Activity

In other news, COO Stephen H. Holdridge sold 2,000 shares of the stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $69.25, for a total transaction of $138,500.00. Following the transaction, the chief operating officer now directly owns 98,437 shares of the company’s stock, valued at $6,816,762.25. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Jeffrey Scott Jacobs sold 643 shares of Dayforce stock in a transaction 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 in the company, valued at approximately $2,159,269.38. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Stephen H. Holdridge sold 2,000 shares of Dayforce stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $69.25, for a total value of $138,500.00. Following the transaction, the chief operating officer now owns 98,437 shares in the company, valued at $6,816,762.25. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,643 shares of company stock valued at $307,617 in the last ninety days. 4.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Dayforce

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Principal Financial Group Inc. purchased a new position in Dayforce during the third quarter valued at $11,135,000. Mn Services Vermogensbeheer B.V. purchased a new position in Dayforce during the third quarter valued at $3,485,000. Asset Management One Co. Ltd. purchased a new position in Dayforce during the third quarter valued at $3,792,000. Robeco Institutional Asset Management B.V. purchased a new position in Dayforce during the third quarter valued at $1,597,000. Finally, Fernwood Investment Management LLC bought a new stake in Dayforce during the third quarter valued at about $1,448,000.

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.