Dayforce (NYSE:DAY) Given New $80.00 Price Target at BMO Capital Markets

Dayforce (NYSE:DAY) had its price objective hoisted by BMO Capital Markets from $70.00 to $80.00 in a research report issued to clients and investors on Friday, Briefing.com reports. The brokerage currently has an “outperform” rating on the stock. BMO Capital Markets’ price target would suggest a potential upside of 12.76% from the company’s previous close.

Other analysts also recently issued reports about the company. Deutsche Bank Aktiengesellschaft increased their target price on Dayforce from $70.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Piper Sandler increased their price objective on Dayforce from $71.00 to $82.00 and gave the company an “overweight” rating in a research report on Thursday. Citigroup boosted their target price on Dayforce from $75.00 to $81.00 and gave the stock a “buy” rating in a research report on Thursday. Mizuho raised their price target on shares of Dayforce from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Thursday. Finally, TD Cowen raised their target price on shares of Dayforce from $58.00 to $62.00 and gave the stock a “hold” rating in a report on Monday, October 7th. Five investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Dayforce has a consensus rating of “Moderate Buy” and a consensus target price of $72.67.

Dayforce Price Performance

Shares of NYSE:DAY opened at $70.95 on Friday. The company has a market capitalization of $11.22 billion, a PE ratio of 215.01, a PEG ratio of 2.52 and a beta of 1.29. The business has a fifty day moving average price of $60.74 and a 200-day moving average price of $56.80. Dayforce has a 1-year low of $47.08 and a 1-year high of $74.66. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.15 and a quick ratio of 1.11.

Dayforce (NYSE:DAY) last issued its earnings results on Wednesday, July 31st. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.05. Dayforce had a net margin of 3.12% and a return on equity of 6.69%. The business had revenue of $423.30 million during the quarter, compared to analysts’ expectations of $417.41 million. As a group, equities analysts expect that Dayforce will post 1.07 EPS for the current fiscal year.

Insider Buying and Selling at Dayforce

In other Dayforce news, 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 transaction of $63,370.00. Following the sale, the chief operating officer now owns 101,437 shares in the company, valued at approximately $6,428,062.69. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Jeffrey Scott Jacobs sold 643 shares of the business’s 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 transaction, the insider now directly owns 34,074 shares of the company’s stock, valued at approximately $2,159,269.38. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Stephen H. Holdridge sold 1,000 shares of the stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $63.37, for a total transaction of $63,370.00. Following the sale, the chief operating officer now directly owns 101,437 shares of the company’s stock, valued at approximately $6,428,062.69. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,643 shares of company stock valued at $307,617. Company insiders own 4.90% of the company’s stock.

Hedge Funds Weigh In On Dayforce

Several hedge funds have recently modified their holdings of DAY. Candriam S.C.A. purchased a new position in shares of Dayforce during the second quarter valued at about $6,027,000. New Mexico Educational Retirement Board bought a new position in Dayforce during the second quarter valued at approximately $392,000. Acadian Asset Management LLC bought a new stake in Dayforce in the 2nd quarter worth approximately $287,000. Prudential PLC purchased a new stake in shares of Dayforce during the 2nd quarter worth approximately $490,000. Finally, Texas Permanent School Fund Corp bought a new position in shares of Dayforce during the 2nd quarter valued at approximately $1,281,000.

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.