Barclays Cuts Dayforce (NYSE:DAY) Price Target to $69.00

Dayforce (NYSE:DAY) had its price objective reduced by Barclays from $80.00 to $69.00 in a research report issued on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s price objective indicates a potential upside of 4.51% from the company’s current price.

Several other research analysts also recently commented on DAY. Jefferies Financial Group boosted their target price on Dayforce from $55.00 to $65.00 and gave the stock a “hold” rating in a research note on Tuesday, October 22nd. Mizuho raised their price target on shares of Dayforce from $85.00 to $95.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Stifel Nicolaus lifted their target price on Dayforce from $82.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. KeyCorp increased their target price on shares of Dayforce from $80.00 to $92.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $80.00 price target (down from $85.00) on shares of Dayforce in a report on Wednesday, January 8th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $79.21.

Dayforce Stock Performance

Shares of DAY stock opened at $66.02 on Thursday. Dayforce has a 52 week low of $47.08 and a 52 week high of $82.69. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.15 and a current ratio of 1.15. The company’s 50 day moving average price is $73.91 and its two-hundred day moving average price is $66.39. The company has a market capitalization of $10.41 billion, a P/E ratio of 200.08, a price-to-earnings-growth ratio of 2.59 and a beta of 1.26.

Dayforce (NYSE:DAY) last released its earnings results on Wednesday, February 5th. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.09). Dayforce had a net margin of 3.12% and a return on equity of 6.69%. On average, analysts expect that Dayforce will post 1.07 earnings per share for the current fiscal year.

Insider Activity at Dayforce

In other news, CEO David D. Ossip sold 858,697 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 794,527 shares of the company’s stock, valued at approximately $63,204,622.85. The trade was 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 the SEC website. Also, COO Stephen H. Holdridge sold 1,000 shares of the company’s stock in a transaction that occurred 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 $9,229,137.72. This trade represents a 0.82 % 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. Corporate 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 DAY. EdgePoint Investment Group Inc. lifted its holdings in shares of Dayforce by 1.1% in the 3rd 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 during the period. Janus Henderson Group PLC grew its stake 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 in the last quarter. Geode Capital Management LLC raised its position in shares of Dayforce by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 3,782,024 shares of the company’s stock valued at $230,875,000 after purchasing an additional 30,302 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Dayforce by 0.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,395,044 shares of the company’s stock valued at $85,446,000 after acquiring an additional 8,506 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Dayforce by 3.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 980,692 shares of the company’s stock worth $60,067,000 after purchasing an additional 34,731 shares during 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.