Dayforce (NYSE:DAY) Given New $55.00 Price Target at Scotiabank

Dayforce (NYSE:DAY) had its price objective trimmed by Scotiabank from $72.00 to $55.00 in a report issued on Monday,Benzinga reports. The firm currently has a sector perform rating on the stock.

DAY has been the topic of a number of other research reports. Citigroup dropped their price target on Dayforce from $90.00 to $83.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. Cowen raised Dayforce from a “hold” rating to a “buy” rating in a research report on Friday, March 7th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $80.00 price target (down previously from $85.00) on shares of Dayforce in a research report on Wednesday, January 8th. Stifel Nicolaus dropped their price target on Dayforce from $90.00 to $85.00 and set a “buy” rating on the stock in a research report on Thursday, February 6th. Finally, TD Cowen raised Dayforce from a “hold” rating to a “buy” rating and increased their price objective for the stock from $67.00 to $68.00 in a report on Friday, March 7th. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $77.86.

Dayforce Trading Up 2.8 %

Shares of Dayforce stock opened at $56.92 on Monday. The stock has a fifty day simple moving average of $65.36 and a 200 day simple moving average of $67.81. Dayforce has a 12-month low of $47.08 and a 12-month high of $82.69. The company has a market capitalization of $9.05 billion, a P/E ratio of 517.54, a price-to-earnings-growth ratio of 2.49 and a beta of 1.33. The company has a current ratio of 1.13, a quick ratio of 1.15 and a debt-to-equity ratio of 0.47.

Dayforce (NYSE:DAY) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $0.37 earnings per share 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%. On average, sell-side analysts anticipate that Dayforce will post 1.48 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, COO Stephen H. Holdridge sold 1,000 shares of Dayforce stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $71.33, for a total transaction of $71,330.00. Following the sale, the chief operating officer now directly owns 119,022 shares in the company, valued at $8,489,839.26. The trade was a 0.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 4.90% of the company’s stock.

Institutional Investors Weigh In On Dayforce

Hedge funds have recently added to or reduced their stakes in the stock. Capital International Investors increased its position in Dayforce by 3.9% during the fourth quarter. Capital International Investors now owns 17,659,706 shares of the company’s stock valued at $1,282,800,000 after acquiring an additional 667,065 shares during the last quarter. Vanguard Group Inc. increased its position in Dayforce by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 17,319,275 shares of the company’s stock valued at $1,258,072,000 after acquiring an additional 197,773 shares during the last quarter. Capital World Investors increased its position in Dayforce by 1.0% during the fourth quarter. Capital World Investors now owns 13,654,333 shares of the company’s stock valued at $991,851,000 after acquiring an additional 128,578 shares during the last quarter. EdgePoint Investment Group Inc. increased its position in Dayforce by 1.1% during the third quarter. EdgePoint Investment Group Inc. now owns 10,624,105 shares of the company’s stock valued at $650,726,000 after acquiring an additional 112,086 shares during the last quarter. Finally, Janus Henderson Group PLC increased its position in Dayforce by 1.9% during the third quarter. Janus Henderson Group PLC now owns 5,669,154 shares of the company’s stock valued at $347,236,000 after acquiring an additional 103,794 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.