Deutsche Bank Aktiengesellschaft Reaffirms Hold Rating for Dayforce (NYSE:DAY)

Dayforce (NYSE:DAY)‘s stock had its “hold” rating reiterated by stock analysts at Deutsche Bank Aktiengesellschaft in a research note issued to investors on Wednesday, MarketBeat Ratings reports. They currently have a $80.00 price target on the stock, down from their prior price target of $85.00. Deutsche Bank Aktiengesellschaft’s price objective points to a potential upside of 14.40% from the company’s current price.

Several other research firms have also weighed in on DAY. Barclays lifted their price objective on Dayforce from $80.00 to $84.00 and gave the stock an “equal weight” rating in a research report on Friday, December 6th. Piper Sandler reissued an “overweight” rating and issued a $94.00 price target (up from $82.00) on shares of Dayforce in a research note on Wednesday, November 13th. TD Cowen raised their price objective on shares of Dayforce from $58.00 to $62.00 and gave the stock a “hold” rating in a research report on Monday, October 7th. KeyCorp boosted their target price on shares of Dayforce from $80.00 to $92.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Finally, Needham & Company LLC raised their price target on shares of Dayforce from $82.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Dayforce presently has an average rating of “Moderate Buy” and a consensus target price of $80.21.

Dayforce Trading Down 1.8 %

DAY opened at $69.93 on Wednesday. Dayforce has a twelve month low of $47.08 and a twelve month high of $82.69. The company has a fifty day moving average of $76.50 and a 200-day moving average of $63.74. The stock has a market cap of $11.03 billion, a PE ratio of 211.92, a price-to-earnings-growth ratio of 3.68 and a beta of 1.26. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.47.

Insider Activity at Dayforce

In related 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 sale, the chief executive officer now directly 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 legal filing with the SEC, which can be accessed through this link. Also, COO Stephen H. Holdridge sold 1,000 shares of the business’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $63.37, for a total value of $63,370.00. Following the completion of the transaction, the chief operating officer now directly owns 101,437 shares in the company, valued at approximately $6,428,062.69. This represents a 0.98 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 865,340 shares of company stock valued at $68,770,223. 4.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Dayforce

A number of hedge funds have recently made changes to their positions in DAY. Acadian Asset Management LLC bought a new position in Dayforce during the second quarter valued at about $287,000. Prudential PLC purchased a new stake in shares of Dayforce during the 2nd quarter worth approximately $490,000. Texas Permanent School Fund Corp bought a new stake in shares of Dayforce in the 2nd quarter worth approximately $1,281,000. Royal London Asset Management Ltd. purchased a new position in Dayforce in the second quarter valued at approximately $2,942,000. Finally, Daiwa Securities Group Inc. purchased a new position in Dayforce in the second quarter valued at approximately $1,251,000.

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.