Dayforce (NYSE:DAY) Price Target Raised to $80.00

Dayforce (NYSE:DAY) had its target price increased by BMO Capital Markets from $70.00 to $80.00 in a report published on Friday, MarketBeat.com reports. BMO Capital Markets currently has an outperform rating on the stock.

A number of other brokerages have also recently commented on DAY. Piper Sandler increased their target price on shares of Dayforce from $71.00 to $82.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Jefferies Financial Group raised their target price on shares of Dayforce from $55.00 to $65.00 and gave the stock a “hold” rating in a research note on Tuesday, October 22nd. Citigroup upped their price target on Dayforce from $75.00 to $81.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Mizuho lifted their price objective on Dayforce from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Finally, Barclays upped their target price on Dayforce from $63.00 to $70.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. Five research 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. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $72.67.

Dayforce Price Performance

NYSE:DAY opened at $75.40 on Friday. The stock has a 50 day moving average of $61.44 and a two-hundred day moving average of $56.97. Dayforce has a 12 month low of $47.08 and a 12 month high of $76.30. The firm has a market cap of $11.89 billion, a P/E ratio of 228.49, a price-to-earnings-growth ratio of 2.56 and a beta of 1.27. The company has a current ratio of 1.15, a quick ratio of 1.11 and a debt-to-equity ratio of 0.47.

Insider Transactions at Dayforce

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Financial Perspectives Inc purchased a new position in shares of Dayforce in the 2nd quarter valued at about $28,000. Quent Capital LLC acquired a new position in shares of Dayforce during the third quarter worth $28,000. Sentry Investment Management LLC purchased a new stake in Dayforce during the 2nd quarter worth about $33,000. Farther Finance Advisors LLC acquired a new position in shares of Dayforce during the 3rd quarter worth about $40,000. Finally, Benjamin F. Edwards & Company Inc. purchased a new position in Dayforce in the second quarter valued at approximately $62,000.

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.