Dayforce (NYSE:DAY) Given Overweight Rating at Piper Sandler

Piper Sandler reissued their overweight rating on shares of Dayforce (NYSE:DAY) in a report issued on Wednesday morning,Benzinga reports. Piper Sandler currently has a $94.00 price objective on the stock, up from their prior price objective of $82.00.

Other research analysts also recently issued reports about the company. Mizuho boosted their target price on Dayforce from $85.00 to $95.00 and gave the stock an “outperform” rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Dayforce from $70.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. TD Cowen upped their price target on shares of Dayforce from $58.00 to $62.00 and gave the company a “hold” rating in a research note on Monday, October 7th. Needham & Company LLC lifted their price objective on shares of Dayforce from $82.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Citigroup upped their target price on Dayforce from $75.00 to $81.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Dayforce has a consensus rating of “Moderate Buy” and an average price target of $79.08.

Dayforce Price Performance

Shares of DAY opened at $77.17 on Wednesday. The company has a 50 day moving average of $64.14 and a two-hundred day moving average of $57.82. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.47. Dayforce has a twelve month low of $47.08 and a twelve month high of $81.32. The company has a market cap of $12.17 billion, a price-to-earnings ratio of 233.86, a price-to-earnings-growth ratio of 3.71 and a beta of 1.27.

Insider Activity

In other Dayforce news, COO Stephen H. Holdridge sold 1,000 shares of Dayforce stock in a transaction on 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 transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, COO Stephen H. Holdridge sold 1,000 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $63.37, for a total transaction of $63,370.00. Following the transaction, the chief operating officer now owns 101,437 shares in the company, valued at $6,428,062.69. This trade represents a 0.00 % 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 company’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 transaction, the insider now owns 34,074 shares of the company’s stock, valued at $2,159,269.38. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,643 shares of company stock valued at $384,617 in the last quarter. 4.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Dayforce

Several 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 Dayforce in the 2nd quarter valued at $721,310,000. Elo Mutual Pension Insurance Co acquired a new position in Dayforce during the second quarter worth about $673,000. State of New Jersey Common Pension Fund D acquired a new stake in Dayforce in the 2nd quarter valued at about $2,760,000. Vanguard Personalized Indexing Management LLC purchased a new position in Dayforce in the 2nd quarter worth approximately $663,000. Finally, Royal London Asset Management Ltd. purchased a new stake in shares of Dayforce in the second quarter valued at approximately $2,942,000.

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.