Dayforce (NYSE:DAY) Given New $85.00 Price Target at Stifel Nicolaus

Dayforce (NYSE:DAY) had its price objective cut by Stifel Nicolaus from $90.00 to $85.00 in a research note issued to investors on Thursday,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities research analysts have also commented on the company. Mizuho upped their target price on Dayforce from $85.00 to $95.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Citigroup cut their price objective on shares of Dayforce from $90.00 to $83.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. Needham & Company LLC restated a “buy” rating and set a $95.00 target price on shares of Dayforce in a research report on Thursday. Piper Sandler reaffirmed an “overweight” rating and set a $83.00 price target (down from $94.00) on shares of Dayforce in a research report on Wednesday. Finally, Scotiabank lowered their target price on Dayforce from $75.00 to $72.00 and set a “sector perform” rating on the stock in a research note on Thursday. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Dayforce has an average rating of “Moderate Buy” and an average target price of $78.64.

Dayforce Stock Down 0.6 %

Shares of Dayforce stock opened at $65.59 on Thursday. Dayforce has a 52-week low of $47.08 and a 52-week high of $82.69. The firm’s 50 day moving average price is $73.63 and its 200-day moving average price is $66.39. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.47. The company has a market cap of $10.34 billion, a P/E ratio of 198.78, a PEG ratio of 2.59 and a beta of 1.26.

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

Insider Buying and Selling

In related 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 transaction of $68,309,346.35. Following the transaction, the chief executive officer now owns 794,527 shares in the company, 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 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 dated Wednesday, January 15th. The shares were sold at an average price of $71.33, for a total transaction of $71,330.00. Following the completion of the transaction, the chief operating officer now owns 119,022 shares in the company, valued at $8,489,839.26. The trade was a 0.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 860,697 shares of company stock worth $68,456,936 in the last 90 days. Insiders own 4.90% of the company’s stock.

Hedge Funds Weigh In On Dayforce

Hedge funds have recently modified their holdings of the business. Farther Finance Advisors LLC acquired a new position in Dayforce in the third quarter valued at about $40,000. Quarry LP purchased a new position in shares of Dayforce during the 3rd quarter worth approximately $51,000. Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in Dayforce in the 3rd quarter valued at approximately $74,000. Smartleaf Asset Management LLC raised its position in Dayforce by 69.0% in the fourth 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 period. Finally, Blue Trust Inc. acquired a new position in Dayforce during the third quarter worth $91,000.

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.