Piper Sandler Issues Positive Forecast for Dayforce (NYSE:DAY) Stock Price

Dayforce (NYSE:DAY) had its price target raised by stock analysts at Piper Sandler from $71.00 to $82.00 in a research report issued on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Piper Sandler’s target price points to a potential upside of 9.00% from the company’s current price.

Several other research analysts have also commented on the company. KeyCorp began coverage on Dayforce in a research report on Tuesday, September 24th. They issued an “overweight” rating and a $70.00 price target for the company. Jefferies Financial Group upped their price objective on Dayforce from $55.00 to $65.00 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. TD Cowen lifted their target price on Dayforce from $58.00 to $62.00 and gave the stock a “hold” rating in a research report on Monday, October 7th. Citigroup upped their price target on shares of Dayforce from $74.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Dayforce from $70.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Five investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Dayforce presently has an average rating of “Moderate Buy” and a consensus target price of $72.67.

Dayforce Price Performance

Shares of NYSE:DAY opened at $75.23 on Thursday. The company has a market capitalization of $11.89 billion, a P/E ratio of 227.98, a P/E/G ratio of 2.52 and a beta of 1.29. Dayforce has a 1-year low of $47.08 and a 1-year high of $75.41. The firm’s 50 day simple moving average is $61.11 and its two-hundred day simple moving average is $56.91. 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 posted its earnings results on Wednesday, July 31st. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.05. The firm had revenue of $423.30 million during the quarter, compared to analyst estimates of $417.41 million. Dayforce had a net margin of 3.12% and a return on equity of 6.69%. Research analysts expect that Dayforce will post 1.07 EPS for the current fiscal year.

Insider Transactions at Dayforce

In related news, COO Stephen H. Holdridge sold 1,000 shares of the 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 $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 $6,428,062.69. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, COO Stephen H. Holdridge sold 1,000 shares of the company’s stock in a transaction dated 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 directly owns 101,437 shares of the company’s stock, valued at $6,428,062.69. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO Stephen H. Holdridge sold 2,000 shares of the stock in a transaction dated 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 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 4,643 shares of company stock valued at $307,617 in the last 90 days. Insiders own 4.90% of the company’s stock.

Institutional Investors Weigh In On Dayforce

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Financial Perspectives Inc acquired a new position in shares of Dayforce in the second quarter valued at about $28,000. Quent Capital LLC purchased a new position in shares of Dayforce during the 3rd quarter valued at approximately $28,000. Sentry Investment Management LLC acquired a new position in shares of Dayforce in the 2nd quarter valued at $33,000. Farther Finance Advisors LLC purchased a new stake in Dayforce during the third quarter worth $40,000. Finally, Benjamin F. Edwards & Company Inc. acquired a new stake in Dayforce during the second quarter valued at $62,000.

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.