Dayforce (NYSE:DAY) Given New $83.00 Price Target at Citigroup

Dayforce (NYSE:DAY) had its price target reduced by Citigroup from $90.00 to $83.00 in a research report released on Thursday,Benzinga reports. Citigroup currently has a buy rating on the stock.

DAY has been the topic of a number of other reports. Scotiabank initiated coverage on shares of Dayforce in a report on Monday, November 18th. They issued a “sector perform” rating and a $75.00 price objective on the stock. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $80.00 target price (down from $85.00) on shares of Dayforce in a research note on Wednesday, January 8th. Needham & Company LLC raised their target price on shares of Dayforce from $82.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Jefferies Financial Group raised their target price on shares of Dayforce from $55.00 to $65.00 and gave the company a “hold” rating in a research note on Tuesday, October 22nd. Finally, TD Cowen raised their target price on shares of Dayforce from $58.00 to $62.00 and gave the company a “hold” rating in a research note on Monday, October 7th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $80.07.

Dayforce Price Performance

NYSE DAY opened at $69.55 on Thursday. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.47. Dayforce has a 12-month low of $47.08 and a 12-month high of $82.69. The company has a market capitalization of $10.97 billion, a PE ratio of 210.77, a price-to-earnings-growth ratio of 2.61 and a beta of 1.26. The firm’s 50 day moving average is $75.52 and its 200-day moving average is $64.69.

Insider Activity

In related news, CEO David D. Ossip sold 858,697 shares of the business’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $79.55, for a total value of $68,309,346.35. Following the completion of the transaction, the chief executive officer now owns 794,527 shares of the company’s stock, valued at $63,204,622.85. The trade was a 51.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Stephen H. Holdridge sold 2,000 shares of the business’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $69.25, for a total value of $138,500.00. Following the completion of the transaction, the chief operating officer now directly owns 98,437 shares of the company’s stock, valued at approximately $6,816,762.25. This trade represents a 1.99 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 863,697 shares of company stock valued at $68,672,436. 4.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of DAY. Select Equity Group L.P. acquired a new position in Dayforce in the second quarter valued at about $721,310,000. EdgePoint Investment Group Inc. acquired a new position in Dayforce during the second quarter worth about $521,396,000. Dragoneer Investment Group LLC acquired a new position in Dayforce during the second quarter worth about $193,274,000. Dimensional Fund Advisors LP acquired a new position in Dayforce during the second quarter worth about $51,027,000. Finally, Squarepoint Ops LLC acquired a new position in Dayforce during the second quarter worth about $19,579,000.

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.