Barclays Boosts Dayforce (NYSE:DAY) Price Target to $70.00

Dayforce (NYSE:DAY) had its price target raised by Barclays from $63.00 to $70.00 in a report released on Thursday, Benzinga reports. Barclays currently has an equal weight rating on the stock.

Several other analysts have also weighed in on DAY. Piper Sandler lifted their price objective on Dayforce from $71.00 to $82.00 and gave the stock an “overweight” rating in a report on Thursday. Deutsche Bank Aktiengesellschaft raised their target price on Dayforce from $70.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Citigroup raised their target price on Dayforce from $74.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. 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. Finally, Mizuho raised their target price on Dayforce from $70.00 to $80.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Five research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $72.67.

Dayforce Price Performance

Shares of NYSE:DAY opened at $75.23 on Thursday. Dayforce has a 1-year low of $47.08 and a 1-year high of $75.41. The firm has a market capitalization of $11.86 billion, a PE ratio of 227.97, a PEG ratio of 2.52 and a beta of 1.27. The business’s 50 day moving average is $61.11 and its 200-day moving average is $56.90. The company has a current ratio of 1.15, a quick ratio of 1.11 and a debt-to-equity ratio of 0.47.

Dayforce (NYSE:DAY) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.05. Dayforce had a return on equity of 6.69% and a net margin of 3.12%. The company had revenue of $423.30 million for the quarter, compared to analyst estimates of $417.41 million. Sell-side analysts predict that Dayforce will post 1.07 earnings per share for the current year.

Insider Buying and Selling at Dayforce

In other Dayforce news, COO Stephen H. Holdridge sold 1,000 shares of Dayforce 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 owns 101,437 shares in the company, valued at approximately $6,428,062.69. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, 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 transaction of $63,370.00. Following the completion of the sale, the chief operating officer now owns 101,437 shares in the company, valued at $6,428,062.69. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal 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 stock was sold at an average price of $63.37, for a total value of $40,746.91. Following the sale, the insider now owns 34,074 shares of the company’s stock, valued at approximately $2,159,269.38. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,643 shares of company stock worth $307,617. 4.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Dayforce

A number of institutional investors and hedge funds have recently made changes to their positions in DAY. Candriam S.C.A. acquired a new stake in shares of Dayforce during the second quarter worth $6,027,000. New Mexico Educational Retirement Board acquired a new stake in shares of Dayforce during the second quarter worth $392,000. Acadian Asset Management LLC acquired a new stake in shares of Dayforce during the second quarter worth $287,000. Prudential PLC acquired a new stake in shares of Dayforce during the second quarter worth $490,000. Finally, Texas Permanent School Fund Corp acquired a new stake in shares of Dayforce during the second quarter worth $1,281,000.

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.