Dayforce (NYSE:DAY) Price Target Raised to $90.00

Dayforce (NYSE:DAY) had its target price boosted by equities research analysts at Stifel Nicolaus from $82.00 to $90.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Stifel Nicolaus’ price target would suggest a potential upside of 16.93% from the company’s current price.

DAY has been the topic of a number of other research reports. Scotiabank initiated coverage on shares of Dayforce in a research report on Monday, November 18th. They set a “sector perform” rating and a $75.00 target price on the stock. TD Cowen increased their target price on shares of Dayforce from $58.00 to $62.00 and gave the stock a “hold” rating in a research report on Monday, October 7th. Needham & Company LLC increased their price target on shares of Dayforce from $82.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Jefferies Financial Group increased their price target on shares of Dayforce from $55.00 to $65.00 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. Finally, Citigroup raised their target price on shares of Dayforce from $75.00 to $81.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, Dayforce presently has an average rating of “Moderate Buy” and a consensus target price of $79.86.

Dayforce Trading Down 0.6 %

Shares of NYSE:DAY traded down $0.49 during trading on Wednesday, reaching $76.97. The stock had a trading volume of 439,295 shares, compared to its average volume of 1,594,698. The firm’s fifty day moving average is $73.76 and its 200 day moving average is $61.24. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.15 and a current ratio of 1.15. Dayforce has a 52 week low of $47.08 and a 52 week high of $82.69. The stock has a market cap of $12.14 billion, a price-to-earnings ratio of 233.76, a P/E/G ratio of 3.68 and a beta of 1.26.

Insiders Place Their Bets

In related news, CEO David D. Ossip sold 858,697 shares of Dayforce 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 sale, the chief executive officer now owns 794,527 shares in the company, valued at $63,204,622.85. The trade was a 51.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Stephen H. Holdridge sold 1,000 shares of Dayforce stock in a transaction 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 in the company, valued at approximately $6,428,062.69. This trade represents a 0.98 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 865,340 shares of company stock valued at $68,770,223. 4.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Dayforce

Several large investors have recently added to or reduced their stakes in DAY. Retirement Systems of Alabama bought a new stake in shares of Dayforce during the 3rd quarter valued at $2,105,000. Tidal Investments LLC boosted its holdings in shares of Dayforce by 85.6% during the 3rd quarter. Tidal Investments LLC now owns 28,359 shares of the company’s stock valued at $1,737,000 after buying an additional 13,078 shares in the last quarter. Toronto Dominion Bank boosted its holdings in shares of Dayforce by 17.7% during the 3rd quarter. Toronto Dominion Bank now owns 53,305 shares of the company’s stock valued at $3,265,000 after buying an additional 8,035 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Dayforce by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 3,782,024 shares of the company’s stock valued at $230,875,000 after buying an additional 30,302 shares in the last quarter. Finally, M&T Bank Corp bought a new stake in shares of Dayforce during the 3rd quarter valued at $505,000.

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.