Dayforce (NYSE:DAY) Price Target Raised to $95.00 at Needham & Company LLC

Dayforce (NYSE:DAY) had its price objective boosted by Needham & Company LLC from $82.00 to $95.00 in a report published on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other equities analysts also recently issued reports on the stock. BMO Capital Markets upped their price objective on shares of Dayforce from $80.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday. KeyCorp began coverage on shares of Dayforce in a report on Tuesday, September 24th. They set an “overweight” rating and a $70.00 price objective on the stock. TD Cowen upped their price objective on shares of Dayforce from $58.00 to $62.00 and gave the company a “hold” rating in a report on Monday, October 7th. Citigroup upped their price objective on shares of Dayforce from $75.00 to $81.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, Barclays upped their price objective on shares of Dayforce from $63.00 to $70.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. Five research 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 company presently has a consensus rating of “Moderate Buy” and an average price target of $79.08.

Dayforce Stock Performance

DAY stock opened at $74.56 on Wednesday. The firm has a market cap of $11.76 billion, a price-to-earnings ratio of 225.95, a PEG ratio of 3.62 and a beta of 1.27. The firm has a 50-day simple moving average of $65.44 and a two-hundred day simple moving average of $58.17. Dayforce has a one year low of $47.08 and a one year high of $81.32. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.15 and a current ratio of 1.15.

Insider Transactions at Dayforce

In other news, COO Stephen H. Holdridge sold 1,000 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $77.00, for a total transaction of $77,000.00. Following the transaction, the chief operating officer now owns 122,022 shares in the company, valued at $9,395,694. This trade represents a 0.81 % decrease in their position. 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 stock in a transaction that occurred 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 transaction, the insider now owns 34,074 shares in the company, valued at $2,159,269.38. This trade represents a 1.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,643 shares of company stock valued at $384,617 in the last 90 days. 4.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

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