Dayforce (NYSE:DAY) Stock Rating Upgraded by TD Cowen

Dayforce (NYSE:DAY) was upgraded by research analysts at TD Cowen from a “hold” rating to a “buy” rating in a report issued on Friday, MarketBeat reports. The firm currently has a $68.00 price target on the stock, up from their prior price target of $67.00. TD Cowen’s price target would suggest a potential upside of 22.68% from the stock’s previous close.

A number of other brokerages also recently weighed in on DAY. Stifel Nicolaus reduced their price target on shares of Dayforce from $90.00 to $85.00 and set a “buy” rating for the company in a report on Thursday, February 6th. Jefferies Financial Group reduced their price target on shares of Dayforce from $80.00 to $75.00 and set a “hold” rating for the company in a report on Thursday, February 6th. Piper Sandler reissued an “overweight” rating and issued a $83.00 price target (down from $94.00) on shares of Dayforce in a report on Wednesday, February 5th. Barclays reduced their price target on shares of Dayforce from $80.00 to $69.00 and set an “equal weight” rating for the company in a report on Thursday, February 6th. Finally, Citigroup reduced their price target on shares of Dayforce from $90.00 to $83.00 and set a “buy” rating for the company in a report on Thursday, January 16th. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $79.07.

Dayforce Stock Performance

DAY stock opened at $55.43 on Friday. The company has a quick ratio of 1.15, a current ratio of 1.13 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $8.81 billion, a price-to-earnings ratio of 503.96, a P/E/G ratio of 2.49 and a beta of 1.33. Dayforce has a 12 month low of $47.08 and a 12 month high of $82.69. The firm has a 50 day moving average of $67.54 and a two-hundred day moving average of $67.85.

Dayforce (NYSE:DAY) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.09). Dayforce had a return on equity of 6.49% and a net margin of 1.03%. As a group, equities analysts anticipate that Dayforce will post 1.48 EPS for the current fiscal year.

Insider Activity

In other news, COO Stephen H. Holdridge sold 1,000 shares of Dayforce stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $71.33, for a total value of $71,330.00. Following the completion of the sale, the chief operating officer now directly owns 119,022 shares in the company, valued at approximately $8,489,839.26. The trade was a 0.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 4.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC bought a new stake in shares of Dayforce during the third quarter worth $40,000. Quarry LP bought a new stake in shares of Dayforce during the third quarter worth $51,000. Harvest Fund Management Co. Ltd bought a new stake in shares of Dayforce during the fourth quarter worth $61,000. Federated Hermes Inc. bought a new stake in shares of Dayforce during the fourth quarter worth $72,000. Finally, AlphaQuest LLC grew its stake in shares of Dayforce by 14,800.0% during the fourth quarter. AlphaQuest LLC now owns 1,043 shares of the company’s stock worth $76,000 after buying an additional 1,036 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.