Dayforce (NYSE:DAY) Price Target Raised to $65.00

Dayforce (NYSE:DAY) had its price target boosted by Jefferies Financial Group from $55.00 to $65.00 in a research report released on Tuesday morning, Benzinga reports. The brokerage currently has a hold rating on the stock.

DAY has been the subject of several other research reports. Citigroup increased their price objective on shares of Dayforce from $74.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Dayforce from $70.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. KeyCorp initiated coverage on shares of Dayforce in a research note on Tuesday, September 24th. They issued an “overweight” rating and a $70.00 target price for the company. Needham & Company LLC restated a “buy” rating and issued a $82.00 target price on shares of Dayforce in a research note on Wednesday, July 31st. Finally, Piper Sandler upgraded shares of Dayforce from a “neutral” rating to an “overweight” rating and upped their target price for the company from $68.00 to $71.00 in a research note on Wednesday, July 31st. Five analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Dayforce presently has an average rating of “Moderate Buy” and an average target price of $69.75.

Dayforce Price Performance

Dayforce stock opened at $64.84 on Tuesday. Dayforce has a 52-week low of $47.08 and a 52-week high of $74.66. The firm has a fifty day moving average of $59.72 and a 200-day moving average of $56.65. The firm has a market capitalization of $10.24 billion, a P/E ratio of 196.48, a PEG ratio of 2.23 and a beta of 1.29. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.49.

Dayforce (NYSE:DAY) last released its quarterly earnings data on Wednesday, July 31st. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.05. Dayforce had a net margin of 2.89% and a return on equity of 6.35%. The company had revenue of $423.30 million during the quarter, compared to analyst estimates of $417.41 million. As a group, analysts predict that Dayforce will post 1.07 EPS for the current year.

Insider Buying and Selling at Dayforce

In other Dayforce news, insider Jeffrey Scott Jacobs sold 643 shares of the stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $63.37, for a total transaction of $40,746.91. Following the transaction, the insider now directly owns 34,074 shares in the company, valued at $2,159,269.38. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, COO Stephen H. Holdridge sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $65.00, for a total value of $65,000.00. Following the sale, the chief operating officer now directly owns 100,437 shares in the company, valued at $6,528,405. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jeffrey Scott Jacobs sold 643 shares of Dayforce stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $63.37, for a total transaction of $40,746.91. Following the completion of the transaction, the insider now owns 34,074 shares in the company, valued at approximately $2,159,269.38. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,643 shares of company stock worth $169,117 in the last ninety days. 4.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Dayforce

A number of hedge funds and other institutional investors have recently modified their holdings of DAY. Select Equity Group L.P. acquired a new position in shares of Dayforce in the 2nd quarter valued at $721,310,000. EdgePoint Investment Group Inc. acquired a new position in shares of Dayforce in the 2nd quarter valued at $521,396,000. Dragoneer Investment Group LLC acquired a new position in shares of Dayforce in the 2nd quarter valued at $193,274,000. Dimensional Fund Advisors LP acquired a new position in shares of Dayforce in the 2nd quarter valued at $51,027,000. Finally, Cannae Holdings Inc. acquired a new position in shares of Dayforce in the 2nd quarter valued at $49,600,000.

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.