Dayforce (NYSE:DAY) Price Target Raised to $81.00

Dayforce (NYSE:DAYGet Free Report) had its price objective lifted by analysts at Citigroup from $75.00 to $81.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s target price suggests a potential upside of 14.16% from the stock’s previous close.

Other equities analysts also recently issued reports about the stock. Barclays boosted their target price on shares of Dayforce from $63.00 to $70.00 and gave the stock an “equal weight” rating in a report on Thursday. Needham & Company LLC restated a “buy” rating and set a $82.00 target price on shares of Dayforce in a report on Thursday. TD Cowen boosted their target price on shares of Dayforce from $58.00 to $62.00 and gave the stock a “hold” rating in a report on Monday, October 7th. KeyCorp began coverage on shares of Dayforce in a report on Tuesday, September 24th. They set an “overweight” rating and a $70.00 target price on the stock. Finally, Piper Sandler boosted their target price on shares of Dayforce from $71.00 to $82.00 and gave the stock an “overweight” rating in a report on Thursday. Five investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $72.25.

View Our Latest Stock Report on DAY

Dayforce Stock Up 1.2 %

Shares of NYSE DAY traded up $0.87 during midday trading on Thursday, reaching $70.95. The company’s stock had a trading volume of 2,867,152 shares, compared to its average volume of 1,586,337. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49. Dayforce has a fifty-two week low of $47.08 and a fifty-two week high of $74.66. The stock has a market capitalization of $11.22 billion, a price-to-earnings ratio of 236.50, a PEG ratio of 2.23 and a beta of 1.29. The stock has a 50 day simple moving average of $60.43 and a 200-day simple moving average of $56.70.

Dayforce (NYSE:DAYGet Free Report) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.05. The company had revenue of $423.30 million for the quarter, compared to the consensus estimate of $417.41 million. Dayforce had a net margin of 2.89% and a return on equity of 6.35%. Equities research analysts predict that Dayforce will post 1.07 earnings per share for the current year.

Insider Activity

In other news, COO Stephen H. Holdridge sold 1,000 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $63.37, for a total value of $63,370.00. Following the completion of the sale, the chief operating officer now owns 101,437 shares of the company’s stock, valued at approximately $6,428,062.69. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, COO Stephen H. Holdridge sold 1,000 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were 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 owns 101,437 shares of the company’s stock, valued at $6,428,062.69. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jeffrey Scott Jacobs sold 643 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 $40,746.91. Following the sale, the insider now directly owns 34,074 shares of the company’s stock, valued at $2,159,269.38. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,643 shares of company stock valued at $169,117. 4.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Financial Perspectives Inc acquired a new position in Dayforce during the second quarter worth about $28,000. Quent Capital LLC acquired a new position in Dayforce during the third quarter worth about $28,000. Sentry Investment Management LLC acquired a new position in Dayforce during the second quarter worth about $33,000. Farther Finance Advisors LLC acquired a new position in Dayforce during the third quarter worth about $40,000. Finally, Benjamin F. Edwards & Company Inc. acquired a new position in Dayforce during the second quarter worth about $62,000.

About Dayforce

(Get Free Report)

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.

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