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

Piper Sandler reaffirmed their overweight rating on shares of Dayforce (NYSE:DAY) in a research note published on Wednesday morning,Benzinga reports. Piper Sandler currently has a $83.00 price objective on the stock, down from their previous price objective of $94.00.

A number of other research analysts have also issued reports on the company. BMO Capital Markets boosted 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. Barclays reduced their target price on Dayforce from $84.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Friday, January 10th. Mizuho raised their price target on shares of Dayforce from $85.00 to $95.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Needham & Company LLC raised their price target on shares of Dayforce from $82.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Finally, Scotiabank started coverage on shares of Dayforce in a research report on Monday, November 18th. They set a “sector perform” rating and a $75.00 price objective for the company. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Dayforce currently has an average rating of “Moderate Buy” and a consensus price target of $79.29.

Dayforce Trading Down 8.0 %

Shares of DAY stock opened at $66.02 on Wednesday. Dayforce has a fifty-two week low of $47.08 and a fifty-two week high of $82.69. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.15 and a current ratio of 1.15. The stock’s fifty day moving average is $73.91 and its two-hundred day moving average is $66.39. The firm has a market capitalization of $10.41 billion, a P/E ratio of 200.08, a PEG ratio of 2.59 and a beta of 1.26.

Dayforce (NYSE:DAY) last released its quarterly earnings results on Wednesday, February 5th. The company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.09). Dayforce had a return on equity of 6.69% and a net margin of 3.12%. Research analysts expect that Dayforce will post 1.07 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Dayforce news, COO Stephen H. Holdridge sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $76.26, for a total transaction of $76,260.00. Following the completion of the transaction, the chief operating officer now directly owns 121,022 shares in the company, valued at $9,229,137.72. The trade was a 0.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO David D. Ossip sold 858,697 shares of the firm’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $79.55, for a total value of $68,309,346.35. Following the completion of the sale, the chief executive officer now directly owns 794,527 shares in the company, valued at approximately $63,204,622.85. This represents a 51.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 860,697 shares of company stock valued at $68,456,936 over the last ninety days. 4.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Farther Finance Advisors LLC bought a new position in shares of Dayforce during the third quarter valued at $40,000. Quarry LP acquired a new stake in Dayforce in the third quarter valued at approximately $51,000. Livforsakringsbolaget Skandia Omsesidigt bought a new position in shares of Dayforce in the third quarter valued at $74,000. Smartleaf Asset Management LLC raised its stake in shares of Dayforce by 69.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,227 shares of the company’s stock worth $89,000 after purchasing an additional 501 shares during the last quarter. Finally, Blue Trust Inc. bought a new stake in Dayforce in the 3rd quarter worth about $91,000.

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.