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

Dayforce (NYSE:DAY) had its price target boosted by BMO Capital Markets from $80.00 to $90.00 in a report released on Wednesday, Marketbeat.com reports. BMO Capital Markets currently has an outperform rating on the stock.

A number of other research analysts also recently weighed in on DAY. Needham & Company LLC reissued a “buy” rating and issued a $82.00 target price on shares of Dayforce in a report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft increased their target price on Dayforce from $70.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Jefferies Financial Group increased their target price on Dayforce from $55.00 to $65.00 and gave the company a “hold” rating in a report on Tuesday, October 22nd. KeyCorp initiated coverage on Dayforce in a research note on Tuesday, September 24th. They issued an “overweight” rating and a $70.00 price objective on the stock. Finally, Citigroup raised their price objective on Dayforce from $75.00 to $81.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $79.08.

Dayforce Stock Down 2.8 %

DAY stock opened at $74.56 on Wednesday. Dayforce has a fifty-two week low of $47.08 and a fifty-two week high of $81.32. The business’s 50-day moving average is $65.04 and its two-hundred day moving average is $58.09. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.15 and a current ratio of 1.15. The company has a market cap of $11.76 billion, a price-to-earnings ratio of 225.95, a P/E/G ratio of 3.62 and a beta of 1.27.

Insider Buying and Selling at Dayforce

In other Dayforce news, insider Jeffrey Scott Jacobs sold 643 shares of Dayforce stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $63.37, for a total transaction of $40,746.91. Following the completion of the sale, the insider now directly owns 34,074 shares of the company’s stock, valued at $2,159,269.38. The trade was a 1.85 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Stephen H. Holdridge sold 1,000 shares of the business’s stock in a transaction 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 transaction, the chief operating officer now directly owns 122,022 shares of the company’s stock, valued at approximately $9,395,694. The trade was a 0.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,643 shares of company stock worth $384,617 in the last quarter. 4.90% of the stock is owned by corporate insiders.

Institutional Trading of Dayforce

Several large investors have recently added to or reduced their stakes in the company. Financial Perspectives Inc purchased a new stake in shares of Dayforce in the second quarter worth about $28,000. Quent Capital LLC acquired a new position in Dayforce in the 3rd quarter worth about $28,000. Sentry Investment Management LLC acquired a new position in Dayforce in the 2nd quarter worth about $33,000. Farther Finance Advisors LLC acquired a new position in shares of Dayforce during the third quarter valued at approximately $40,000. Finally, Quarry LP acquired a new position in shares of Dayforce during the third quarter valued at approximately $51,000.

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.