Dayforce (NYSE:DAY) Sets New 1-Year High – What’s Next?

Dayforce Inc (NYSE:DAY) shares hit a new 52-week high during trading on Thursday . The stock traded as high as $81.03 and last traded at $81.02, with a volume of 631877 shares traded. The stock had previously closed at $80.95.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on DAY shares. Mizuho increased their price target on Dayforce from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. KeyCorp initiated coverage on Dayforce in a report on Tuesday, September 24th. They set an “overweight” rating and a $70.00 target price on the stock. Citigroup boosted their price target on Dayforce from $75.00 to $81.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Dayforce from $70.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, Barclays upped their price target on shares of Dayforce from $63.00 to $70.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. Five equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $72.67.

Dayforce Stock Down 0.4 %

The stock has a market capitalization of $12.72 billion, a P/E ratio of 244.92, a P/E/G ratio of 3.52 and a beta of 1.27. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.15 and a quick ratio of 1.15. The firm has a 50-day simple moving average of $62.29 and a 200 day simple moving average of $57.26.

Insiders Place Their Bets

In related news, COO Stephen H. Holdridge sold 1,000 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $77.00, for a total transaction of $77,000.00. Following the completion of the transaction, the chief operating officer now directly owns 122,022 shares of the company’s stock, valued at $9,395,694. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Jeffrey Scott Jacobs sold 643 shares of Dayforce 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 completion of the transaction, the insider now directly owns 34,074 shares of the company’s stock, valued at approximately $2,159,269.38. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Stephen H. Holdridge sold 1,000 shares of Dayforce stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $77.00, for a total value of $77,000.00. Following the completion of the sale, the chief operating officer now owns 122,022 shares of the company’s stock, valued at approximately $9,395,694. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,643 shares of company stock valued at $384,617 in the last ninety days. 4.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Dayforce

A number of large investors have recently bought and sold shares of the stock. Swiss National Bank raised its holdings in Dayforce by 7.1% during the third quarter. Swiss National Bank now owns 468,600 shares of the company’s stock worth $28,702,000 after buying an additional 31,000 shares during the last quarter. Adero Partners LLC bought a new position in shares of Dayforce in the third quarter valued at approximately $4,987,000. Empirical Finance LLC purchased a new position in shares of Dayforce during the third quarter valued at approximately $236,000. CIBC Asset Management Inc bought a new stake in Dayforce during the third quarter worth $1,434,000. Finally, KBC Group NV purchased a new stake in Dayforce in the 3rd quarter valued at $946,000.

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.