Barclays Has Lowered Expectations for Dayforce (NYSE:DAY) Stock Price

Dayforce (NYSE:DAY) had its target price reduced by Barclays from $80.00 to $69.00 in a report released on Thursday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Barclays‘s price target points to a potential upside of 6.13% from the stock’s previous close.

A number of other brokerages have also recently issued reports on DAY. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $80.00 target price (down from $85.00) on shares of Dayforce in a research report on Wednesday, January 8th. Stifel Nicolaus upped their target price on Dayforce from $82.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Scotiabank initiated coverage on Dayforce in a research report on Monday, November 18th. They issued a “sector perform” rating and a $75.00 target price for the company. BMO Capital Markets upped their target price on Dayforce from $80.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Finally, Jefferies Financial Group upped their target price on Dayforce from $55.00 to $65.00 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $78.64.

Dayforce Trading Down 1.0 %

NYSE:DAY opened at $65.02 on Thursday. The stock has a 50-day simple moving average of $73.35 and a 200-day simple moving average of $66.38. The stock has a market cap of $10.25 billion, a P/E ratio of 197.02, a P/E/G ratio of 2.59 and a beta of 1.26. Dayforce has a 1 year low of $47.08 and a 1 year high of $82.69. 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 (NYSE:DAY) last released its quarterly earnings data on Wednesday, February 5th. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.09). Dayforce had a return on equity of 6.69% and a net margin of 3.12%. As a group, analysts anticipate that Dayforce will post 1.07 earnings per share for the current fiscal year.

Insider Transactions at Dayforce

In other news, CEO David D. Ossip sold 858,697 shares of the stock in a transaction that occurred 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 directly owns 794,527 shares of the company’s stock, valued at approximately $63,204,622.85. This represents a 51.94 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Stephen H. Holdridge sold 1,000 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $71.33, for a total value of $71,330.00. Following the transaction, the chief operating officer now directly owns 119,022 shares of the company’s stock, valued at approximately $8,489,839.26. This trade 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 sold 860,697 shares of company stock valued at $68,456,936. Corporate insiders own 4.90% of the company’s stock.

Hedge Funds Weigh In On Dayforce

Several hedge funds have recently bought and sold shares of the company. Metis Global Partners LLC increased its stake in Dayforce by 3.8% in the 4th quarter. Metis Global Partners LLC now owns 5,261 shares of the company’s stock valued at $382,000 after purchasing an additional 193 shares in the last quarter. Bleakley Financial Group LLC increased its stake in Dayforce by 9.9% in the 3rd quarter. Bleakley Financial Group LLC now owns 4,867 shares of the company’s stock valued at $298,000 after purchasing an additional 439 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in Dayforce by 69.0% in the 4th 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 in the last quarter. HighTower Advisors LLC increased its stake in Dayforce by 11.0% in the 3rd quarter. HighTower Advisors LLC now owns 6,083 shares of the company’s stock valued at $368,000 after purchasing an additional 602 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D increased its stake in Dayforce by 1.1% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 56,294 shares of the company’s stock valued at $3,448,000 after purchasing an additional 640 shares in the last quarter.

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.