Dayforce (NYSE:DAY) Now Covered by Scotiabank

Scotiabank started coverage on shares of Dayforce (NYSE:DAY) in a research report issued to clients and investors on Monday,Benzinga reports. The firm set a “sector perform” rating and a $75.00 price target on the stock. Scotiabank’s target price suggests a potential upside of 0.40% from the stock’s current price.

DAY has been the topic of several other research reports. TD Cowen increased their price target on Dayforce from $58.00 to $62.00 and gave the stock a “hold” rating in a report on Monday, October 7th. Jefferies Financial Group lifted their price target on Dayforce from $55.00 to $65.00 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. KeyCorp boosted their target price on shares of Dayforce from $80.00 to $92.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Piper Sandler reiterated an “overweight” rating and set a $94.00 price target (up previously from $82.00) on shares of Dayforce in a research note on Wednesday, November 13th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Dayforce from $70.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $78.77.

Dayforce Trading Up 0.2 %

Shares of DAY traded up $0.14 during mid-day trading on Monday, reaching $74.70. 1,154,270 shares of the company were exchanged, compared to its average volume of 1,608,269. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.15 and a current ratio of 1.15. Dayforce has a 52 week low of $47.08 and a 52 week high of $81.32. The business has a 50 day simple moving average of $65.44 and a two-hundred day simple moving average of $58.15. The stock has a market capitalization of $11.78 billion, a PE ratio of 226.37, a PEG ratio of 3.50 and a beta of 1.27.

Insider Activity

In related news, COO Stephen H. Holdridge sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $69.25, for a total transaction of $138,500.00. Following the completion of the sale, the chief operating officer now directly owns 98,437 shares of the company’s stock, valued at approximately $6,816,762.25. This trade represents a 1.99 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction of $40,746.91. Following the transaction, the insider now directly owns 34,074 shares of the company’s stock, valued at $2,159,269.38. The trade was a 1.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,643 shares of company stock valued at $384,617 in the last ninety days. Insiders own 4.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Financial Perspectives Inc purchased a new stake in Dayforce during the second quarter worth about $28,000. Quent Capital LLC purchased a new stake in Dayforce during the third quarter worth approximately $28,000. Sentry Investment Management LLC purchased a new position in shares of Dayforce in the second quarter valued at $33,000. Farther Finance Advisors LLC purchased a new position in shares of Dayforce in the third quarter valued at $40,000. Finally, Quarry LP bought a new position in Dayforce during the 3rd quarter valued at $51,000.

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.