Dayforce (NYSE:DAY) Price Target Raised to $92.00

Dayforce (NYSE:DAY) had its target price increased by KeyCorp from $80.00 to $92.00 in a report released on Wednesday morning,Benzinga reports. KeyCorp currently has an overweight rating on the stock.

Several other brokerages have also recently issued reports on DAY. Mizuho lifted their target price on Dayforce from $85.00 to $95.00 and gave the company an “outperform” rating in a research report on Wednesday. Barclays lifted their target price on Dayforce from $70.00 to $80.00 and gave the company an “equal weight” rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft lifted their target price on Dayforce from $70.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Jefferies Financial Group lifted their target price on Dayforce from $55.00 to $65.00 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. Finally, BMO Capital Markets lifted their target price on Dayforce from $80.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday. Five 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, Dayforce has an average rating of “Moderate Buy” and an average target price of $79.08.

Dayforce Trading Down 2.8 %

Shares of Dayforce stock opened at $74.56 on Wednesday. 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 stock has a 50 day moving average price of $65.04 and a two-hundred day moving average price of $58.09. The stock has a market capitalization of $11.76 billion, a PE ratio of 225.95, a price-to-earnings-growth ratio of 3.62 and a beta of 1.27.

Insider Buying and Selling

In other Dayforce news, COO Stephen H. Holdridge sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $77.00, for a total value of $77,000.00. Following the sale, the chief operating officer now owns 122,022 shares of the company’s stock, valued at $9,395,694. This trade represents a 0.81 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jeffrey Scott Jacobs sold 643 shares of the firm’s stock in a transaction dated 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 directly owns 34,074 shares in the company, valued at approximately $2,159,269.38. The trade was a 1.85 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,643 shares of company stock valued at $384,617. Corporate insiders own 4.90% of the company’s stock.

Institutional Trading of Dayforce

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

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.