Barclays Raises Dayforce (NYSE:DAY) Price Target to $80.00

Dayforce (NYSE:DAY) had its price target increased by analysts at Barclays from $70.00 to $80.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Barclays‘s price target would indicate a potential upside of 4.22% from the company’s current price.

Several other analysts have also issued reports on the company. Jefferies Financial Group upped their price objective on Dayforce from $55.00 to $65.00 and gave the company a “hold” rating in a research note on Tuesday, October 22nd. BMO Capital Markets lifted their price objective on shares of Dayforce from $80.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday. KeyCorp initiated coverage on shares of Dayforce in a report on Tuesday, September 24th. They issued an “overweight” rating and a $70.00 price objective on the stock. Deutsche Bank Aktiengesellschaft raised their target price on shares of Dayforce from $70.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, Citigroup upped their price target 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. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Dayforce currently has a consensus rating of “Moderate Buy” and an average price target of $79.08.

Dayforce Stock Performance

Shares of DAY stock opened at $76.76 on Wednesday. The stock has a market cap of $12.11 billion, a P/E ratio of 232.61, a P/E/G ratio of 3.62 and a beta of 1.27. The company has a fifty day moving average price of $64.59 and a two-hundred day moving average price of $57.96. Dayforce has a one year low of $47.08 and a one year high of $81.32. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.15 and a quick ratio of 1.15.

Insider Activity

In related news, insider Jeffrey Scott Jacobs sold 643 shares of the company’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 $40,746.91. Following the completion of the sale, the insider now directly owns 34,074 shares in the company, valued at $2,159,269.38. This represents a 1.85 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Stephen H. Holdridge sold 1,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief operating officer now owns 122,022 shares in the company, valued at approximately $9,395,694. The trade was a 0.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 5,643 shares of company stock worth $384,617. 4.90% of the stock is currently owned by company insiders.

Institutional Trading of Dayforce

A number of hedge funds have recently added to or reduced their stakes in DAY. Eventide Asset Management LLC bought a new stake in Dayforce during the 3rd quarter worth $1,188,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Dayforce by 3.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 980,692 shares of the company’s stock valued at $60,067,000 after buying an additional 34,731 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Dayforce in the 3rd quarter valued at approximately $2,604,000. Quantbot Technologies LP boosted its position in Dayforce by 204.7% during the 3rd quarter. Quantbot Technologies LP now owns 7,870 shares of the company’s stock worth $482,000 after buying an additional 5,287 shares during the period. Finally, Daiwa Securities Group Inc. grew its holdings in Dayforce by 9.3% during the 3rd quarter. Daiwa Securities Group Inc. now owns 27,574 shares of the company’s stock worth $1,689,000 after acquiring an additional 2,344 shares during 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.