Dayforce (NYSE:DAY) Given New $69.00 Price Target at Barclays

Dayforce (NYSE:DAY) had its target price lowered by Barclays from $80.00 to $69.00 in a research report report published on Thursday morning,Benzinga reports. Barclays currently has an equal weight rating on the stock.

Several other equities research analysts have also issued reports on DAY. Stifel Nicolaus lifted their target price on shares of Dayforce from $82.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. BMO Capital Markets increased their target price on Dayforce from $80.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Mizuho lifted their price target on Dayforce from $85.00 to $95.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Piper Sandler reissued an “overweight” rating and set a $83.00 price objective (down from $94.00) on shares of Dayforce in a report on Wednesday. Finally, Citigroup reduced their price target on shares of Dayforce from $90.00 to $83.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $78.64.

Dayforce Stock Down 0.6 %

DAY opened at $65.59 on Thursday. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.47. Dayforce has a 12 month low of $47.08 and a 12 month high of $82.69. The company has a market cap of $10.34 billion, a PE ratio of 198.78, a price-to-earnings-growth ratio of 2.59 and a beta of 1.26. The company has a 50 day moving average of $73.63 and a 200 day moving average of $66.39.

Dayforce (NYSE:DAY) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.09). Dayforce had a net margin of 3.12% and a return on equity of 6.69%. On average, sell-side analysts expect that Dayforce will post 1.07 EPS for the current year.

Insider Buying and Selling at Dayforce

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

Institutional Inflows and Outflows

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