Dayforce (NYSE:DAY) Earns Sector Perform Rating from Analysts at Scotiabank

Equities research analysts at Scotiabank assumed coverage on shares of Dayforce (NYSE:DAY) in a research report issued on Monday, MarketBeat Ratings reports. The firm set a “sector perform” rating and a $75.00 price target on the stock. Scotiabank’s price objective would indicate a potential upside of 0.25% from the stock’s previous close.

A number of other brokerages have also weighed in on DAY. KeyCorp upped their price objective on Dayforce from $80.00 to $92.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. BMO Capital Markets upped their price target on shares of Dayforce from $80.00 to $90.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Piper Sandler reiterated an “overweight” rating and issued a $94.00 price target (up previously from $82.00) on shares of Dayforce in a report on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Dayforce from $70.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, Mizuho increased their target price on shares of Dayforce from $85.00 to $95.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $78.77.

Dayforce Price Performance

Shares of DAY opened at $74.81 on Monday. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.47. The stock’s 50 day moving average is $65.80 and its two-hundred day moving average is $58.27. Dayforce has a twelve month low of $47.08 and a twelve month high of $81.32. The firm has a market capitalization of $11.80 billion, a PE ratio of 224.58, a P/E/G ratio of 3.50 and a beta of 1.27.

Insider Buying and Selling at Dayforce

In related news, COO Stephen H. Holdridge sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $63.37, for a total transaction of $63,370.00. Following the transaction, the chief operating officer now owns 101,437 shares of the company’s stock, valued at approximately $6,428,062.69. This represents a 0.98 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jeffrey Scott Jacobs sold 643 shares of the business’s stock in a transaction 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 transaction, the insider now owns 34,074 shares of the company’s stock, valued at $2,159,269.38. This trade represents a 1.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,643 shares of company stock worth $460,877. 4.90% of the stock is owned by insiders.

Institutional Trading of Dayforce

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Financial Perspectives Inc acquired a new stake in shares of Dayforce in the second quarter worth approximately $28,000. Quent Capital LLC purchased a new position in Dayforce during the third quarter worth approximately $28,000. Sentry Investment Management LLC acquired a new position in shares of Dayforce in the 2nd quarter valued at $33,000. Farther Finance Advisors LLC purchased a new stake in shares of Dayforce during the 3rd quarter valued at $40,000. Finally, Quarry LP acquired a new stake in shares of Dayforce during the 3rd quarter worth $51,000.

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.