Dayforce (NYSE:DAY) Price Target Raised to $92.00 at KeyCorp

Dayforce (NYSE:DAY) had its target price boosted by KeyCorp from $80.00 to $92.00 in a research report released on Wednesday,Benzinga reports. KeyCorp currently has an overweight rating on the stock.

Other equities research analysts also recently issued research reports about the stock. Citigroup raised their price objective on shares of Dayforce from $75.00 to $81.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. 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. TD Cowen upped their price objective on Dayforce from $58.00 to $62.00 and gave the stock a “hold” rating in a report on Monday, October 7th. Mizuho raised their target price on Dayforce from $85.00 to $95.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, BMO Capital Markets upped their price target on shares of Dayforce from $80.00 to $90.00 and gave the stock an “outperform” rating in a research note on Wednesday. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $79.08.

Dayforce Stock Down 2.8 %

DAY stock opened at $74.56 on Wednesday. The stock has a market capitalization of $11.76 billion, a PE ratio of 225.95, a price-to-earnings-growth ratio of 3.62 and a beta of 1.27. The company has a fifty day moving average of $65.44 and a 200-day moving average of $58.17. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.15 and a current ratio of 1.15. Dayforce has a one year low of $47.08 and a one year high of $81.32.

Insiders Place Their Bets

In other news, insider Jeffrey Scott Jacobs sold 643 shares of the firm’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 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 $2,159,269.38. This trade represents a 1.85 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Stephen H. Holdridge sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $77.00, for a total value of $77,000.00. Following the completion of the sale, the chief operating officer now directly owns 122,022 shares in the company, valued at approximately $9,395,694. The trade was a 0.81 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,643 shares of company stock worth $384,617. Insiders own 4.90% of the company’s stock.

Institutional Trading of Dayforce

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Select Equity Group L.P. purchased a new position in Dayforce in the 2nd quarter valued at about $721,310,000. EdgePoint Investment Group Inc. raised its position in shares of Dayforce by 1.1% in the third quarter. EdgePoint Investment Group Inc. now owns 10,624,105 shares of the company’s stock valued at $650,726,000 after buying an additional 112,086 shares during the last quarter. Janus Henderson Group PLC lifted its stake in shares of Dayforce by 1.9% during the third quarter. Janus Henderson Group PLC now owns 5,669,154 shares of the company’s stock valued at $347,236,000 after buying an additional 103,794 shares during the period. Dragoneer Investment Group LLC acquired a new stake in Dayforce during the second quarter worth approximately $193,274,000. Finally, Geode Capital Management LLC grew its stake in Dayforce by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 3,782,024 shares of the company’s stock worth $230,875,000 after acquiring an additional 30,302 shares during the period.

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.