By otakuyassine3@gmail.com 
Dayforce (NYSE:DAY – Get Free Report) had its target price dropped by research analysts at Stifel Nicolaus from $90.00 to $85.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ price target suggests a potential upside of 30.11% from the company’s previous close.
A number of other equities research analysts also recently issued reports on the stock. BMO Capital Markets boosted their price target on shares of Dayforce from $80.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. 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 note on Thursday, January 16th. Piper Sandler reissued an “overweight” rating and issued a $83.00 price target (down from $94.00) on shares of Dayforce in a research note on Wednesday. Needham & Company LLC reaffirmed a “buy” rating and set a $95.00 target price on shares of Dayforce in a research note on Thursday. Finally, Jefferies Financial Group cut their target price on shares of Dayforce from $80.00 to $75.00 and set a “hold” rating on the stock in a research note on Thursday. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $78.64.
Get Our Latest Stock Analysis on Dayforce
Dayforce Trading Down 1.0 %
DAY stock traded down $0.67 during trading on Thursday, reaching $65.33. 1,048,948 shares of the stock were exchanged, compared to its average volume of 1,687,953. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.47. The business has a 50 day moving average price of $73.63 and a 200-day moving average price of $66.39. Dayforce has a 1 year low of $47.08 and a 1 year high of $82.69. The firm has a market capitalization of $10.30 billion, a price-to-earnings ratio of 197.79, a P/E/G ratio of 2.59 and a beta of 1.26.
Dayforce (NYSE:DAY – Get Free Report) last issued its earnings results on Wednesday, February 5th. The company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.09). Dayforce had a return on equity of 6.69% and a net margin of 3.12%. On average, research analysts predict that Dayforce will post 1.07 earnings per share for the current year.
Insider Activity at Dayforce
In related news, COO Stephen H. Holdridge sold 1,000 shares of the company’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 directly owns 119,022 shares of the company’s stock, valued at $8,489,839.26. This represents a 0.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO David D. Ossip sold 858,697 shares of the company’s 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 in the company, valued at $63,204,622.85. This represents a 51.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 860,697 shares of company stock worth $68,456,936. Company insiders own 4.90% of the company’s stock.
Hedge Funds Weigh In On Dayforce
Institutional investors have recently modified their holdings of the company. Farther Finance Advisors LLC acquired a new stake in Dayforce in the 3rd quarter valued at about $40,000. Quarry LP acquired a new position in Dayforce in the third quarter worth approximately $51,000. Livforsakringsbolaget Skandia Omsesidigt acquired a new position in Dayforce during the third quarter valued at approximately $74,000. Smartleaf Asset Management LLC grew its holdings in 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 purchasing an additional 501 shares during the last quarter. Finally, Blue Trust Inc. acquired a new position in Dayforce during the third quarter valued at approximately $91,000.
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.
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