Dayforce (NYSE:DAY) Price Target Raised to $67.00

Dayforce (NYSE:DAY) had its price objective lifted by equities researchers at BMO Capital Markets from $64.00 to $67.00 in a research note issued to investors on Thursday, Marketbeat reports. The brokerage currently has an “outperform” rating on the stock. BMO Capital Markets’ target price points to a potential upside of 18.04% from the company’s current price.

Other research analysts have also recently issued research reports about the company. Needham & Company LLC reiterated a “buy” rating and set a $95.00 price objective on shares of Dayforce in a research note on Thursday, February 6th. Jefferies Financial Group cut their price objective on shares of Dayforce from $80.00 to $75.00 and set a “hold” rating on the stock in a research report on Thursday, February 6th. Stifel Nicolaus decreased their target price on shares of Dayforce from $90.00 to $85.00 and set a “buy” rating for the company in a report on Thursday, February 6th. Mizuho cut their price target on shares of Dayforce from $95.00 to $80.00 and set an “outperform” rating on the stock in a report on Tuesday, April 15th. Finally, Wells Fargo & Company decreased their price objective on shares of Dayforce from $70.00 to $60.00 and set an “equal weight” rating for the company in a report on Tuesday, April 22nd. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $71.29.

Dayforce Stock Performance

Shares of DAY stock opened at $56.76 on Thursday. The company’s fifty day moving average price is $56.11 and its 200-day moving average price is $66.62. The stock has a market cap of $8.98 billion, a PE ratio of 516.05, a price-to-earnings-growth ratio of 2.49 and a beta of 1.17. The company has a current ratio of 1.13, a quick ratio of 1.15 and a debt-to-equity ratio of 0.47. Dayforce has a 12 month low of $47.08 and a 12 month high of $82.69.

Dayforce (NYSE:DAY) last announced 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 6.49% and a net margin of 1.03%. On average, equities analysts expect that Dayforce will post 1.48 EPS for the current fiscal year.

Insider Activity

In other Dayforce news, EVP Samer Alkharrat sold 1,916 shares of the business’s stock in a transaction dated Friday, April 25th. The stock was sold at an average price of $56.64, for a total transaction of $108,522.24. Following the completion of the sale, the executive vice president now owns 150,237 shares of the company’s stock, valued at approximately $8,509,423.68. The trade was a 1.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP William Everett Mcdonald sold 2,000 shares of the company’s stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $56.16, for a total value of $112,320.00. Following the completion of the sale, the executive vice president now owns 105,691 shares of the company’s stock, valued at approximately $5,935,606.56. The trade was a 1.86 % decrease in their position. The disclosure for this sale can be found here. Insiders own 4.50% of the company’s stock.

Hedge Funds Weigh In On Dayforce

A number of hedge funds have recently modified their holdings of DAY. Charles Schwab Investment Management Inc. lifted its stake in shares of Dayforce by 4.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,460,591 shares of the company’s stock valued at $85,196,000 after buying an additional 60,963 shares in the last quarter. ASR Vermogensbeheer N.V. bought a new stake in Dayforce during the first quarter valued at about $731,000. PNC Financial Services Group Inc. lifted its position in shares of Dayforce by 3.9% in the first quarter. PNC Financial Services Group Inc. now owns 11,725 shares of the company’s stock valued at $684,000 after acquiring an additional 443 shares in the last quarter. XTX Topco Ltd bought a new position in shares of Dayforce in the first quarter worth about $486,000. Finally, Mackenzie Financial Corp grew its position in shares of Dayforce by 26.4% during the first quarter. Mackenzie Financial Corp now owns 43,011 shares of the company’s stock worth $2,509,000 after purchasing an additional 8,973 shares in the last quarter.

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.