Analysts Set Dayforce Inc (NYSE:DAY) Target Price at $79.93

Shares of Dayforce Inc (NYSE:DAY) have earned a consensus rating of “Moderate Buy” from the fifteen ratings firms that are presently covering the stock, MarketBeat reports. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $79.93.

A number of brokerages have recently commented on DAY. Mizuho raised their target price on shares of Dayforce from $85.00 to $95.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Piper Sandler restated an “overweight” rating and set a $94.00 price objective (up from $82.00) on shares of Dayforce in a report on Wednesday, November 13th. Needham & Company LLC upped their target price on Dayforce from $82.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Stifel Nicolaus raised their price target on Dayforce from $82.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Finally, TD Cowen upped their price objective on shares of Dayforce from $58.00 to $62.00 and gave the stock a “hold” rating in a research note on Monday, October 7th.

Dayforce Trading Up 0.4 %

DAY stock opened at $70.55 on Friday. Dayforce has a 12 month low of $47.08 and a 12 month high of $82.69. The firm’s 50-day moving average is $76.30 and its 200 day moving average is $64.23. The company has a market capitalization of $11.13 billion, a PE ratio of 213.79, a P/E/G ratio of 3.68 and a beta of 1.26. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.15 and a quick ratio of 1.15.

Insider Buying and Selling at Dayforce

In other Dayforce news, CEO David D. Ossip sold 858,697 shares of the firm’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $79.55, for a total value of $68,309,346.35. Following the completion of the transaction, the chief executive officer now 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Stephen H. Holdridge sold 1,000 shares of the business’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $65.00, for a total transaction of $65,000.00. Following the sale, the chief operating officer now directly owns 100,437 shares in the company, valued at $6,528,405. This trade represents a 0.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 863,697 shares of company stock worth $68,666,106 over the last three months. Corporate insiders own 4.90% of the company’s stock.

Institutional Trading of Dayforce

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