KeyCorp Raises Dayforce (NYSE:DAY) Price Target to $92.00

Dayforce (NYSE:DAY) had its target price upped by KeyCorp from $80.00 to $92.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Other equities research analysts also recently issued reports about the stock. BMO Capital Markets upped their target price on shares of Dayforce from $80.00 to $90.00 and gave the stock an “outperform” rating in a research note on Wednesday. Citigroup upped their price objective on Dayforce from $75.00 to $81.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Needham & Company LLC boosted their target price on Dayforce from $82.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday. Mizuho upped their price target on Dayforce from $85.00 to $95.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, Piper Sandler reiterated an “overweight” rating and issued a $94.00 price objective (up previously from $82.00) on shares of Dayforce in a research note on Wednesday. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $79.08.

Dayforce Stock Performance

NYSE DAY opened at $74.56 on Wednesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.15 and a quick ratio of 1.15. The company has a market cap of $11.76 billion, a P/E ratio of 225.95, a P/E/G ratio of 3.62 and a beta of 1.27. The stock has a 50-day moving average of $65.44 and a two-hundred day moving average of $58.17. Dayforce has a 1-year low of $47.08 and a 1-year high of $81.32.

Insider Buying and Selling at Dayforce

In other news, COO Stephen H. Holdridge sold 1,000 shares of the business’s stock in a transaction dated 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 sale, the chief operating officer now directly owns 101,437 shares of the company’s stock, valued at approximately $6,428,062.69. The trade was a 0.98 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jeffrey Scott Jacobs sold 643 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now owns 34,074 shares in the company, valued at $2,159,269.38. This represents 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 worth $384,617 over the last three months. Insiders own 4.90% of the company’s stock.

Institutional Investors Weigh In On Dayforce

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bleakley Financial Group LLC increased its holdings in shares of Dayforce by 9.9% in the 3rd quarter. Bleakley Financial Group LLC now owns 4,867 shares of the company’s stock valued at $298,000 after acquiring an additional 439 shares during the period. Quent Capital LLC purchased a new position in Dayforce during the 3rd quarter worth $28,000. Financial Perspectives Inc acquired a new position in Dayforce in the second quarter valued at $28,000. HighTower Advisors LLC raised its holdings in shares of Dayforce by 11.0% in the third quarter. HighTower Advisors LLC now owns 6,083 shares of the company’s stock valued at $368,000 after buying an additional 602 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D boosted its stake in shares of Dayforce by 1.1% during the third quarter. State of New Jersey Common Pension Fund D now owns 56,294 shares of the company’s stock worth $3,448,000 after buying an additional 640 shares during the period.

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.