Dayforce (NYSE:DAY) Price Target Raised to $95.00

Dayforce (NYSE:DAY) had its price target raised by research analysts at Needham & Company LLC from $82.00 to $95.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Needham & Company LLC’s target price indicates a potential upside of 23.76% from the company’s previous close.

Several other equities research analysts have also commented on the stock. Jefferies Financial Group boosted their target price on shares of Dayforce from $55.00 to $65.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. KeyCorp initiated 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. Mizuho increased their target price on shares of Dayforce from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. TD Cowen boosted their price target on Dayforce from $58.00 to $62.00 and gave the stock a “hold” rating in a research note on Monday, October 7th. Finally, Piper Sandler raised their price objective on Dayforce from $71.00 to $82.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Dayforce currently has an average rating of “Moderate Buy” and an average price target of $79.08.

Dayforce Stock Down 0.5 %

DAY opened at $76.76 on Wednesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.15 and a quick ratio of 1.15. Dayforce has a 12 month low of $47.08 and a 12 month high of $81.32. The stock has a market capitalization of $12.11 billion, a P/E ratio of 232.61, a P/E/G ratio of 3.71 and a beta of 1.27. The business has a 50 day simple moving average of $64.59 and a 200-day simple moving average of $57.96.

Insider Activity

In other news, insider Jeffrey Scott Jacobs sold 643 shares of the business’s 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 completion of the transaction, the insider now owns 34,074 shares of the company’s stock, valued at $2,159,269.38. The trade was a 1.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Stephen H. Holdridge sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $65.00, for a total transaction of $65,000.00. Following the sale, the chief operating officer now owns 100,437 shares in the company, valued at approximately $6,528,405. This trade represents a 0.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,643 shares of company stock worth $384,617 over the last three months. 4.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Dayforce

Several large investors have recently added to or reduced their stakes in DAY. Quent Capital LLC purchased a new stake in Dayforce in the 3rd quarter valued at about $28,000. Financial Perspectives Inc acquired a new position in Dayforce during the second quarter worth approximately $28,000. Farther Finance Advisors LLC purchased a new position in Dayforce during the third quarter worth approximately $40,000. Sentry Investment Management LLC acquired a new position in shares of Dayforce in the 2nd quarter valued at $33,000. Finally, Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in shares of Dayforce during the 3rd quarter valued at $74,000.

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.