Barclays Increases Dayforce (NYSE:DAY) Price Target to $84.00

Dayforce (NYSE:DAY) had its price objective increased by Barclays from $80.00 to $84.00 in a research report released on Friday,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other research analysts have also weighed in on the stock. TD Cowen lifted their price objective 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. Mizuho increased their price objective on Dayforce from $85.00 to $95.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. BMO Capital Markets lifted their target price on Dayforce from $80.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Jefferies Financial Group upped their price target on Dayforce from $55.00 to $65.00 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. Finally, Scotiabank assumed coverage on shares of Dayforce in a research report on Monday, November 18th. They issued a “sector perform” rating and a $75.00 price objective for the company. Six equities 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 a consensus price target of $79.08.

Dayforce Price Performance

Shares of NYSE:DAY opened at $78.56 on Friday. The firm has a market capitalization of $12.39 billion, a PE ratio of 238.06, a P/E/G ratio of 3.78 and a beta of 1.26. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.47. The company has a 50-day moving average price of $71.43 and a two-hundred day moving average price of $60.11. Dayforce has a twelve month low of $47.08 and a twelve month high of $82.69.

Insider Activity

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 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. This represents a 0.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO David D. Ossip sold 858,697 shares of Dayforce stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $79.55, for a total transaction of $68,309,346.35. Following the completion of the transaction, the chief executive officer now directly owns 794,527 shares in the company, valued at approximately $63,204,622.85. The trade was a 51.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 865,340 shares of company stock worth $68,770,223. 4.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Dayforce

A number of hedge funds have recently modified their holdings of the company. Financial Perspectives Inc bought a new stake in shares of Dayforce in the second quarter worth about $28,000. Quent Capital LLC purchased a new stake in Dayforce in the 3rd quarter worth approximately $28,000. Sentry Investment Management LLC bought a new stake in shares of Dayforce in the 2nd quarter worth approximately $33,000. Farther Finance Advisors LLC purchased a new position in shares of Dayforce during the third quarter valued at approximately $40,000. Finally, Quarry LP bought a new position in shares of Dayforce during the third quarter valued at approximately $51,000.

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.