Dayforce (NYSE:DAY) Price Target Raised to $95.00 at Needham & Company LLC

Dayforce (NYSE:DAY) had its price target increased by Needham & Company LLC from $82.00 to $95.00 in a research report report published on Wednesday,Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

Other equities analysts have also issued research reports about the company. TD Cowen raised their target price on Dayforce from $58.00 to $62.00 and gave the stock a “hold” rating in a research note on Monday, October 7th. BMO Capital Markets raised their target price on Dayforce from $80.00 to $90.00 and gave the stock an “outperform” rating in a research note on Wednesday. Piper Sandler raised their target price on Dayforce from $71.00 to $82.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Jefferies Financial Group increased their price target on Dayforce from $55.00 to $65.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. Finally, Citigroup increased their price target on Dayforce from $75.00 to $81.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Dayforce currently has an average rating of “Moderate Buy” and an average price target of $79.08.

Dayforce Stock Performance

Shares of DAY stock opened at $74.56 on Wednesday. The firm has a market capitalization of $11.76 billion, a price-to-earnings ratio of 225.95, a price-to-earnings-growth ratio of 3.62 and a beta of 1.27. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.15 and a quick ratio of 1.15. The business has a fifty day moving average of $65.04 and a 200 day moving average of $58.09. Dayforce has a 1 year low of $47.08 and a 1 year high of $81.32.

Insider Activity

In related news, insider Jeffrey Scott Jacobs sold 643 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $63.37, for a total value of $40,746.91. Following the transaction, the insider now directly owns 34,074 shares of the company’s stock, valued at approximately $2,159,269.38. This trade represents a 1.85 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Stephen H. Holdridge sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $77.00, for a total transaction of $77,000.00. Following the completion of the transaction, the chief operating officer now directly owns 122,022 shares in the company, valued at $9,395,694. This represents a 0.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,643 shares of company stock worth $384,617 in the last ninety days. Company insiders own 4.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of DAY. Quent Capital LLC purchased a new position in Dayforce in the 3rd quarter worth approximately $28,000. Financial Perspectives Inc purchased a new position in Dayforce in the 2nd quarter worth approximately $28,000. Farther Finance Advisors LLC purchased a new position in Dayforce in the 3rd quarter worth approximately $40,000. Sentry Investment Management LLC purchased a new position in Dayforce in the 2nd quarter worth approximately $33,000. Finally, Quarry LP purchased a new position in Dayforce in the 3rd quarter worth approximately $51,000.

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.