Dayforce (NYSE:DAY) Stock Rating Upgraded by TD Cowen

TD Cowen upgraded shares of Dayforce (NYSE:DAY) from a hold rating to a buy rating in a research note released on Friday, MarketBeat.com reports. The brokerage currently has $68.00 price target on the stock, up from their previous price target of $67.00.

Several other research analysts have also recently issued reports on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $95.00 price target on shares of Dayforce in a report on Thursday, February 6th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $80.00 target price (down from $85.00) on shares of Dayforce in a research note on Wednesday, January 8th. Piper Sandler reissued an “overweight” rating and set a $83.00 target price (down from $94.00) on shares of Dayforce in a research note on Wednesday, February 5th. Scotiabank cut their target price on shares of Dayforce from $75.00 to $72.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 6th. Finally, Mizuho boosted their target price on shares of Dayforce from $85.00 to $95.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Six investment analysts have rated the stock with a hold rating and nine have issued 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 $79.07.

Dayforce Price Performance

NYSE DAY opened at $55.43 on Friday. The stock has a market capitalization of $8.81 billion, a P/E ratio of 503.96, a P/E/G ratio of 2.49 and a beta of 1.33. Dayforce has a 1 year low of $47.08 and a 1 year high of $82.69. The business’s fifty day moving average is $67.54 and its two-hundred day moving average is $67.76. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.15 and a current ratio of 1.13.

Dayforce (NYSE:DAY) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.09). Dayforce had a net margin of 1.03% and a return on equity of 6.49%. On average, research analysts forecast that Dayforce will post 1.48 earnings per share for the current fiscal year.

Insider Activity

In related news, COO Stephen H. Holdridge sold 1,000 shares of the company’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $71.33, for a total value of $71,330.00. Following the completion of the sale, the chief operating officer now directly owns 119,022 shares in the company, valued at approximately $8,489,839.26. This represents a 0.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 4.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Dayforce

A number of large investors have recently bought and sold shares of the business. Metis Global Partners LLC boosted its holdings in Dayforce by 3.8% in the fourth quarter. Metis Global Partners LLC now owns 5,261 shares of the company’s stock worth $382,000 after purchasing an additional 193 shares in the last quarter. Stifel Financial Corp boosted its holdings in Dayforce by 4.1% in the fourth quarter. Stifel Financial Corp now owns 5,206 shares of the company’s stock worth $378,000 after purchasing an additional 205 shares in the last quarter. United Capital Financial Advisors LLC boosted its holdings in Dayforce by 3.5% during the fourth quarter. United Capital Financial Advisors LLC now owns 6,740 shares of the company’s stock valued at $490,000 after acquiring an additional 228 shares during the period. Nomura Asset Management Co. Ltd. boosted its holdings in Dayforce by 0.6% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 43,707 shares of the company’s stock valued at $3,175,000 after acquiring an additional 277 shares during the period. Finally, Utah Retirement Systems boosted its holdings in Dayforce by 1.2% during the fourth quarter. Utah Retirement Systems now owns 24,923 shares of the company’s stock valued at $1,810,000 after acquiring an additional 300 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.