Dayforce (NYSE:DAY) Price Target Raised to $85.00

Dayforce (NYSE:DAY) had its price target boosted by Mizuho from $80.00 to $85.00 in a research report released on Thursday morning, Benzinga reports. Mizuho currently has an outperform rating on the stock.

DAY has been the topic of a number of other research reports. Needham & Company LLC restated a “buy” rating and set a $82.00 price objective on shares of Dayforce in a research note on Thursday. Deutsche Bank Aktiengesellschaft raised their price objective on Dayforce from $70.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Piper Sandler raised their price objective on Dayforce from $71.00 to $82.00 and gave the stock an “overweight” rating in a research note on Thursday. TD Cowen raised their price objective on Dayforce from $58.00 to $62.00 and gave the stock a “hold” rating in a research note on Monday, October 7th. Finally, Jefferies Financial Group lifted their price target on Dayforce from $55.00 to $65.00 and gave the company a “hold” rating in a research note on Tuesday, October 22nd. Five equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $72.67.

Dayforce Stock Performance

DAY opened at $75.23 on Thursday. Dayforce has a 12-month low of $47.08 and a 12-month high of $75.41. The stock has a market cap of $11.86 billion, a price-to-earnings ratio of 227.97, a PEG ratio of 2.52 and a beta of 1.27. The business has a 50 day moving average of $61.11 and a 200-day moving average of $56.90. The company has a quick ratio of 1.11, a current ratio of 1.15 and a debt-to-equity ratio of 0.47.

Dayforce (NYSE:DAY) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.05. The business had revenue of $423.30 million during the quarter, compared to analysts’ expectations of $417.41 million. Dayforce had a return on equity of 6.69% and a net margin of 3.12%. On average, equities research analysts expect that Dayforce will post 1.07 earnings per share for the current year.

Insiders Place Their Bets

In other news, COO Stephen H. Holdridge sold 2,000 shares of the firm’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $69.25, for a total transaction of $138,500.00. Following the completion of the transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Dayforce news, COO Stephen H. Holdridge sold 2,000 shares of the company’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $69.25, for a total value of $138,500.00. Following the sale, the chief operating officer now owns 98,437 shares in the company, valued at approximately $6,816,762.25. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jeffrey Scott Jacobs sold 643 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $63.37, for a total value 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 trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,643 shares of company stock valued at $307,617 in the last ninety days. 4.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Select Equity Group L.P. acquired a new stake in shares of Dayforce during the second quarter worth $721,310,000. EdgePoint Investment Group Inc. acquired a new stake in shares of Dayforce during the second quarter worth $521,396,000. Dragoneer Investment Group LLC acquired a new stake in shares of Dayforce during the second quarter worth $193,274,000. Dimensional Fund Advisors LP acquired a new stake in shares of Dayforce during the second quarter worth $51,027,000. Finally, Cannae Holdings Inc. acquired a new stake in shares of Dayforce during the second quarter worth $49,600,000.

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.