BMO Capital Markets Forecasts Strong Price Appreciation for Dayforce (NYSE:DAY) Stock

Dayforce (NYSE:DAY) had its price objective upped by stock analysts at BMO Capital Markets from $80.00 to $90.00 in a research report issued on Wednesday, Marketbeat.com reports. The firm presently has an “outperform” rating on the stock. BMO Capital Markets’ price objective suggests a potential upside of 17.25% from the company’s previous close.

DAY has been the subject of several other research reports. Mizuho upped their price objective on Dayforce from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. KeyCorp initiated coverage on shares of Dayforce in a research report on Tuesday, September 24th. They issued an “overweight” rating and a $70.00 price target for the company. Deutsche Bank Aktiengesellschaft raised their price target on shares of Dayforce from $70.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Needham & Company LLC reissued a “buy” rating and issued a $82.00 price objective on shares of Dayforce in a research note on Thursday, October 31st. Finally, TD Cowen raised their target price on Dayforce from $58.00 to $62.00 and gave the stock a “hold” rating in a research report on Monday, October 7th. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $79.08.

Dayforce Price Performance

Shares of DAY opened at $76.76 on Wednesday. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.47. The stock has a market cap of $12.11 billion, a PE ratio of 232.61, a PEG ratio of 3.71 and a beta of 1.27. Dayforce has a 12-month low of $47.08 and a 12-month high of $81.32. The business has a 50-day simple moving average of $64.59 and a two-hundred day simple moving average of $57.96.

Insider Activity

In other news, COO Stephen H. Holdridge sold 1,000 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at $6,428,062.69. This trade represents a 0.98 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Jeffrey Scott Jacobs sold 643 shares of the business’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $63.37, for a total transaction of $40,746.91. Following the transaction, the insider now owns 34,074 shares in the company, valued at $2,159,269.38. The trade was a 1.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,643 shares of company stock valued at $384,617 in the last ninety days. 4.90% of the stock is owned by company insiders.

Institutional Trading of Dayforce

Several large investors have recently made changes to their positions in DAY. Financial Perspectives Inc acquired a new position in Dayforce during the 2nd quarter worth approximately $28,000. Quent Capital LLC acquired a new position in shares of Dayforce during the third quarter worth approximately $28,000. Sentry Investment Management LLC bought a new position in shares of Dayforce in the 2nd quarter worth $33,000. Farther Finance Advisors LLC acquired a new stake in Dayforce in the 3rd quarter valued at $40,000. Finally, Benjamin F. Edwards & Company Inc. bought a new stake in Dayforce during the 2nd quarter valued at $62,000.

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.