Dayforce’s (DAY) Hold Rating Reiterated at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft reiterated their hold rating on shares of Dayforce (NYSE:DAY) in a research report sent to investors on Wednesday morning, Marketbeat reports. They currently have a $80.00 target price on the stock, down from their previous target price of $85.00.

Other equities research analysts have also issued reports about the company. Piper Sandler restated an “overweight” rating and set a $94.00 price target (up from $82.00) on shares of Dayforce in a research report on Wednesday, November 13th. KeyCorp upped their target price on shares of Dayforce from $80.00 to $92.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Needham & Company LLC lifted their price target on shares of Dayforce from $82.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Mizuho upped their price objective on shares of Dayforce from $85.00 to $95.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Finally, Citigroup raised their target price on shares of Dayforce from $75.00 to $81.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $79.93.

Dayforce Stock Performance

Shares of DAY opened at $70.30 on Wednesday. The company has a 50-day simple moving average of $76.40 and a two-hundred day simple moving average of $63.88. 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 firm has a market capitalization of $11.09 billion, a PE ratio of 213.04, a price-to-earnings-growth ratio of 3.68 and a beta of 1.26. Dayforce has a one year low of $47.08 and a one year high of $82.69.

Insider Activity

In other Dayforce news, insider Jeffrey Scott Jacobs sold 643 shares of Dayforce stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $63.37, for a total value of $40,746.91. Following the completion of the sale, the insider now owns 34,074 shares of the company’s stock, valued at approximately $2,159,269.38. The trade was a 1.85 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Stephen H. Holdridge sold 1,000 shares of the firm’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $65.00, for a total value of $65,000.00. Following the completion of the transaction, the chief operating officer now owns 100,437 shares in the company, valued at approximately $6,528,405. This trade represents a 0.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 865,340 shares of company stock valued at $68,770,223 over the last ninety days. 4.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Dayforce

A number of institutional investors and hedge funds have recently made changes to their positions in DAY. Everence Capital Management Inc. bought a new position in Dayforce in the fourth quarter worth approximately $354,000. GAMMA Investing LLC raised its holdings in Dayforce by 52.1% in the 4th quarter. GAMMA Investing LLC now owns 2,926 shares of the company’s stock worth $213,000 after purchasing an additional 1,002 shares during the period. Principal Financial Group Inc. purchased a new position in Dayforce during the third quarter valued at $11,135,000. Retirement Systems of Alabama bought a new stake in Dayforce during the third quarter valued at about $2,105,000. Finally, Tidal Investments LLC increased its position in Dayforce by 85.6% in the third quarter. Tidal Investments LLC now owns 28,359 shares of the company’s stock worth $1,737,000 after buying an additional 13,078 shares in the last quarter.

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.