Dayforce (NYSE:DAY) Now Covered by Analysts at Scotiabank

Scotiabank assumed coverage on shares of Dayforce (NYSE:DAY) in a research report released on Monday morning, Marketbeat.com reports. The firm issued a sector perform rating and a $75.00 price target on the stock.

A number of other equities analysts also recently commented on DAY. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Dayforce from $70.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Citigroup lifted their price objective on Dayforce from $75.00 to $81.00 and gave the company a “buy” rating in a report on Thursday, October 31st. BMO Capital Markets increased their target price on Dayforce from $80.00 to $90.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Barclays boosted their price target on Dayforce from $70.00 to $80.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 13th. Finally, TD Cowen increased their price objective on Dayforce from $58.00 to $62.00 and gave the stock a “hold” rating in a research note on Monday, October 7th. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $78.77.

Dayforce Stock Performance

Shares of NYSE DAY opened at $78.43 on Monday. The firm has a market capitalization of $12.37 billion, a price-to-earnings ratio of 237.67, a PEG ratio of 3.51 and a beta of 1.27. Dayforce has a one year low of $47.08 and a one year high of $81.32. The business has a fifty day simple moving average of $66.90 and a 200 day simple moving average of $58.66. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.47.

Insiders Place Their Bets

In related news, COO Stephen H. Holdridge sold 2,000 shares of the company’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $69.25, for a total value of $138,500.00. Following the completion of the sale, the chief operating officer now owns 98,437 shares in the company, valued at $6,816,762.25. This represents a 1.99 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jeffrey Scott Jacobs sold 643 shares of the firm’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 directly owns 34,074 shares in the company, valued at $2,159,269.38. The trade was a 1.85 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 6,643 shares of company stock valued at $460,877. Insiders own 4.90% of the company’s stock.

Institutional Investors Weigh In On Dayforce

A number of hedge funds have recently modified their holdings of the business. Select Equity Group L.P. acquired a new position in shares of Dayforce in the 2nd quarter valued at approximately $721,310,000. EdgePoint Investment Group Inc. lifted its stake in Dayforce by 1.1% in the third quarter. EdgePoint Investment Group Inc. now owns 10,624,105 shares of the company’s stock valued at $650,726,000 after buying an additional 112,086 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in shares of Dayforce by 1.9% in the third quarter. Janus Henderson Group PLC now owns 5,669,154 shares of the company’s stock valued at $347,236,000 after buying an additional 103,794 shares during the period. Dragoneer Investment Group LLC bought a new stake in shares of Dayforce during the second quarter worth $193,274,000. Finally, Geode Capital Management LLC raised its holdings in shares of Dayforce by 0.8% during the third quarter. Geode Capital Management LLC now owns 3,782,024 shares of the company’s stock worth $230,875,000 after acquiring an additional 30,302 shares during the period.

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.