Dayforce (NYSE:DAY) Price Target Cut to $72.00 by Analysts at Scotiabank

Dayforce (NYSE:DAY) had its price objective decreased by Scotiabank from $75.00 to $72.00 in a research report sent to investors on Thursday morning,Benzinga reports. Scotiabank currently has a sector perform rating on the stock.

A number of other equities analysts have also recently issued reports on the stock. Citigroup cut their target price on shares of Dayforce from $90.00 to $83.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Barclays lowered their price target on shares of Dayforce from $80.00 to $69.00 and set an “equal weight” rating for the company in a research report on Thursday. KeyCorp lifted their price target on Dayforce from $80.00 to $92.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Jefferies Financial Group reduced their price target on shares of Dayforce from $80.00 to $75.00 and set a “hold” rating for the company in a research note on Thursday. Finally, Stifel Nicolaus lifted their target price on Dayforce from $82.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $78.64.

Dayforce Trading Down 0.6 %

DAY opened at $65.59 on Thursday. The firm’s 50 day moving average is $73.63 and its 200-day moving average is $66.39. Dayforce has a 52-week low of $47.08 and a 52-week high of $82.69. 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 firm has a market capitalization of $10.34 billion, a P/E ratio of 198.78, a P/E/G ratio of 2.59 and a beta of 1.26.

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

Insider Buying and Selling

In other news, COO Stephen H. Holdridge sold 1,000 shares of the firm’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $71.33, for a total value of $71,330.00. Following the sale, the chief operating officer now owns 119,022 shares in the company, valued at approximately $8,489,839.26. This trade represents a 0.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO David D. Ossip sold 858,697 shares of the stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $79.55, for a total transaction of $68,309,346.35. Following the completion of the sale, the chief executive officer now directly owns 794,527 shares of the company’s stock, valued at approximately $63,204,622.85. This trade represents a 51.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 860,697 shares of company stock worth $68,456,936 in the last quarter. 4.90% of the stock is currently owned by company insiders.

Institutional Trading of Dayforce

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