Dayforce (NYSE:DAY) Stock Price Expected to Rise, Citigroup Analyst Says

Dayforce (NYSE:DAY) had its price target hoisted by Citigroup from $75.00 to $81.00 in a research report released on Thursday, Benzinga reports. Citigroup currently has a buy rating on the stock.

A number of other equities analysts have also weighed in on the company. KeyCorp assumed coverage on Dayforce in a research report on Tuesday, September 24th. They set an “overweight” rating and a $70.00 target price on the stock. TD Cowen increased 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. Deutsche Bank Aktiengesellschaft raised their target price on Dayforce from $70.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Jefferies Financial Group raised their price target on Dayforce from $55.00 to $65.00 and gave the company a “hold” rating in a report on Tuesday, October 22nd. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $82.00 price target on shares of Dayforce in a report on Thursday. Five equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Dayforce presently has an average rating of “Moderate Buy” and an average target price of $72.67.

Dayforce Trading Up 1.2 %

DAY stock opened at $70.95 on Thursday. The company has a fifty day moving average price of $60.74 and a two-hundred day moving average price of $56.80. The stock has a market cap of $11.22 billion, a price-to-earnings ratio of 215.01, a price-to-earnings-growth ratio of 2.52 and a beta of 1.29. Dayforce has a one year low of $47.08 and a one year high of $74.66. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.15 and a quick ratio of 1.11.

Dayforce (NYSE:DAY) last issued its earnings results on Wednesday, July 31st. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.18 by $0.05. Dayforce had a return on equity of 6.69% and a net margin of 3.12%. The firm had revenue of $423.30 million during the quarter, compared to the consensus estimate of $417.41 million. Equities analysts anticipate that Dayforce will post 1.07 EPS for the current year.

Insider Activity

In related news, COO Stephen H. Holdridge sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $69.25, for a total transaction of $138,500.00. Following the completion of the sale, the chief operating officer now directly owns 98,437 shares of the company’s stock, valued at approximately $6,816,762.25. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Dayforce news, COO Stephen H. Holdridge sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $69.25, for a total value of $138,500.00. Following the completion of the sale, the chief operating officer now directly owns 98,437 shares in the company, valued at $6,816,762.25. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jeffrey Scott Jacobs sold 643 shares of the firm’s stock in a transaction 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 directly owns 34,074 shares of the company’s stock, valued at approximately $2,159,269.38. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,643 shares of company stock valued at $307,617 in the last ninety days. Insiders own 4.90% of the company’s stock.

Hedge Funds Weigh In On Dayforce

A number of institutional investors and hedge funds have recently bought and sold shares of DAY. Candriam S.C.A. purchased a new position in Dayforce during the second quarter worth about $6,027,000. New Mexico Educational Retirement Board purchased a new stake in Dayforce during the 2nd quarter worth approximately $392,000. Acadian Asset Management LLC acquired a new position in Dayforce during the 2nd quarter worth approximately $287,000. Prudential PLC acquired a new position in Dayforce during the 2nd quarter worth approximately $490,000. Finally, Texas Permanent School Fund Corp acquired a new position in Dayforce during the 2nd quarter worth approximately $1,281,000.

About Dayforce

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.