Dayforce (NYSE:DAY) Sets New 52-Week High – Time to Buy?

Shares of Dayforce Inc (NYSE:DAY) reached a new 52-week high on Monday . The company traded as high as $81.50 and last traded at $81.05, with a volume of 13648 shares trading hands. The stock had previously closed at $79.79.

Analyst Ratings Changes

A number of brokerages recently commented on DAY. Deutsche Bank Aktiengesellschaft lifted their price objective on Dayforce from $70.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Citigroup boosted their target price 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 increased their price target on shares of Dayforce from $82.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. KeyCorp lifted their price objective on shares of Dayforce from $80.00 to $92.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Finally, Jefferies Financial Group upped their target price on shares of Dayforce from $55.00 to $65.00 and gave the company a “hold” rating in a research note on Tuesday, October 22nd. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Dayforce has an average rating of “Moderate Buy” and an average target price of $78.77.

Dayforce Price Performance

The stock has a market cap of $12.86 billion, a P/E ratio of 241.80, a PEG ratio of 3.75 and a beta of 1.27. The company has a 50 day simple moving average of $67.31 and a 200 day simple moving average of $58.80. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.47.

Insider Transactions at Dayforce

In related news, COO Stephen H. Holdridge sold 1,000 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $76.26, for a total value of $76,260.00. Following the completion of the transaction, the chief operating officer now directly owns 121,022 shares of the company’s stock, valued at approximately $9,229,137.72. This trade represents a 0.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jeffrey Scott Jacobs sold 643 shares of the company’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 $40,746.91. Following the sale, the insider now directly owns 34,074 shares in the company, valued at $2,159,269.38. This trade represents a 1.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,643 shares of company stock valued at $460,877 over the last 90 days. 4.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Quent Capital LLC acquired a new stake in Dayforce in the 3rd quarter valued at about $28,000. Financial Perspectives Inc bought a new position in shares of Dayforce during the 2nd quarter worth approximately $28,000. Farther Finance Advisors LLC bought a new position in shares of Dayforce during the 3rd quarter worth approximately $40,000. Sentry Investment Management LLC acquired a new position in shares of Dayforce during the 2nd quarter worth approximately $33,000. Finally, Quarry LP bought a new stake in Dayforce in the 3rd quarter valued at $51,000.

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.