Jefferies Financial Group Lowers Dayforce (NYSE:DAY) Price Target to $75.00

Dayforce (NYSE:DAY) had its price objective cut by equities researchers at Jefferies Financial Group from $80.00 to $75.00 in a report released on Thursday,Benzinga reports. The firm currently has a “hold” rating on the stock. Jefferies Financial Group’s price objective indicates a potential upside of 15.36% from the company’s current price.

Other equities research analysts also recently issued reports about the company. Piper Sandler restated an “overweight” rating and set a $83.00 price target (down from $94.00) on shares of Dayforce in a research note on Wednesday. Stifel Nicolaus boosted 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. Barclays lowered their price objective on Dayforce from $80.00 to $69.00 and set an “equal weight” rating on the stock in a research report on Thursday. KeyCorp lifted their price objective on Dayforce from $80.00 to $92.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $80.00 price objective (down from $85.00) on shares of Dayforce in a research report on Wednesday, January 8th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $78.64.

Dayforce Trading Down 1.0 %

Dayforce stock opened at $65.02 on Thursday. The business has a 50-day simple moving average of $73.35 and a two-hundred day simple moving average of $66.38. The company 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 52-week low of $47.08 and a 52-week high of $82.69. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.47.

Dayforce (NYSE:DAY) last released its quarterly earnings results on Wednesday, February 5th. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.09). Dayforce had a net margin of 3.12% and a return on equity of 6.69%. Analysts predict that Dayforce will post 1.07 EPS for the current year.

Insider Buying and Selling

In other Dayforce news, CEO David D. Ossip sold 858,697 shares of Dayforce stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $79.55, for a total value of $68,309,346.35. Following the sale, the chief executive officer now owns 794,527 shares of the company’s stock, valued at $63,204,622.85. The trade was a 51.94 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Stephen H. Holdridge sold 1,000 shares of Dayforce 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 completion of the sale, the chief operating officer now directly owns 119,022 shares in the company, valued at approximately $8,489,839.26. The trade was a 0.83 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 860,697 shares of company stock valued at $68,456,936. Corporate insiders own 4.90% of the company’s stock.

Institutional Trading of Dayforce

A number of large investors have recently added to or reduced their stakes in the company. Metis Global Partners LLC increased its position in shares of Dayforce by 3.8% during 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 during the last quarter. Bleakley Financial Group LLC increased its position in shares of Dayforce by 9.9% during 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 during the last quarter. Smartleaf Asset Management LLC increased its position in shares of Dayforce by 69.0% during 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 during the last quarter. HighTower Advisors LLC increased its position in shares of Dayforce by 11.0% during 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 during the last quarter. Finally, State of New Jersey Common Pension Fund D increased its position in shares of Dayforce by 1.1% during 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 during the last quarter.

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.