Barclays Boosts Dayforce (NYSE:DAY) Price Target to $84.00

Dayforce (NYSE:DAY) had its price target boosted by Barclays from $80.00 to $84.00 in a report issued on Friday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s price target suggests a potential upside of 6.92% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the company. Needham & Company LLC raised their target price on Dayforce from $82.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. TD Cowen raised their price objective on shares of Dayforce from $58.00 to $62.00 and gave the stock a “hold” rating in a research report on Monday, October 7th. Piper Sandler reiterated an “overweight” rating and issued a $94.00 price objective (up previously from $82.00) on shares of Dayforce in a research note on Wednesday, November 13th. KeyCorp increased their target price on shares of Dayforce from $80.00 to $92.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Finally, BMO Capital Markets lifted their price target on shares of Dayforce from $80.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $79.08.

Dayforce Price Performance

Shares of NYSE DAY opened at $78.56 on Friday. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $12.39 billion, a PE ratio of 238.07, a P/E/G ratio of 3.79 and a beta of 1.26. The firm has a fifty day simple moving average of $71.43 and a 200 day simple moving average of $60.10. Dayforce has a twelve month low of $47.08 and a twelve month high of $82.69.

Insider Buying and Selling at Dayforce

In related news, CEO David D. Ossip sold 858,697 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $79.55, for a total transaction of $68,309,346.35. Following the transaction, the chief executive officer now directly owns 794,527 shares of the company’s stock, valued at $63,204,622.85. This trade represents a 51.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Stephen H. Holdridge sold 1,000 shares of the company’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $63.37, for a total transaction of $63,370.00. Following the completion of the sale, the chief operating officer now directly owns 101,437 shares of the company’s stock, valued at $6,428,062.69. The trade was a 0.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 865,340 shares of company stock worth $68,770,223. Corporate insiders own 4.90% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Retirement Systems of Alabama bought a new stake in shares of Dayforce during the 3rd quarter worth $2,105,000. Tidal Investments LLC increased its holdings in Dayforce by 85.6% during the third quarter. Tidal Investments LLC now owns 28,359 shares of the company’s stock worth $1,737,000 after buying an additional 13,078 shares during the last quarter. Toronto Dominion Bank raised its position in Dayforce by 17.7% in the third quarter. Toronto Dominion Bank now owns 53,305 shares of the company’s stock worth $3,265,000 after acquiring an additional 8,035 shares during the period. Geode Capital Management LLC boosted its stake in Dayforce by 0.8% in the third quarter. Geode Capital Management LLC now owns 3,782,024 shares of the company’s stock valued at $230,875,000 after acquiring an additional 30,302 shares during the last quarter. Finally, M&T Bank Corp bought a new position in shares of Dayforce during the 3rd quarter valued at approximately $505,000.

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.