Dayforce (NYSE:DAY) Price Target Raised to $80.00 at Barclays

Dayforce (NYSE:DAY) had its price objective boosted by Barclays from $70.00 to $80.00 in a research report report published on Wednesday,Benzinga reports. They currently have an equal weight rating on the stock.

Several other brokerages have also recently issued reports on DAY. Needham & Company LLC raised their target price on Dayforce from $82.00 to $95.00 and gave the stock a “buy” rating in a research report on Wednesday. BMO Capital Markets raised their price objective on shares of Dayforce from $80.00 to $90.00 and gave the stock an “outperform” rating in a report on Wednesday. Piper Sandler reaffirmed an “overweight” rating and set a $94.00 target price (up from $82.00) on shares of Dayforce in a report on Wednesday. TD Cowen increased their price target on shares of Dayforce from $58.00 to $62.00 and gave the stock a “hold” rating in a research report on Monday, October 7th. Finally, Citigroup boosted their price objective on shares of Dayforce from $75.00 to $81.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Five 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, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $79.08.

Dayforce Stock Performance

DAY stock opened at $74.56 on Wednesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.15 and a quick ratio of 1.15. Dayforce has a 1 year low of $47.08 and a 1 year high of $81.32. The company has a market cap of $11.76 billion, a P/E ratio of 225.95, a price-to-earnings-growth ratio of 3.62 and a beta of 1.27. The stock’s fifty day moving average price is $65.44 and its 200-day moving average price is $58.17.

Insiders Place Their Bets

In other news, insider Jeffrey Scott Jacobs sold 643 shares of Dayforce stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $63.37, for a total transaction of $40,746.91. Following the sale, the insider now 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Stephen H. Holdridge sold 1,000 shares of the company’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $77.00, for a total transaction of $77,000.00. Following the transaction, the chief operating officer now owns 122,022 shares of the company’s stock, valued at approximately $9,395,694. This represents a 0.81 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,643 shares of company stock worth $384,617. Corporate insiders own 4.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Candriam S.C.A. purchased a new stake in shares of Dayforce in the second quarter worth about $6,027,000. New Mexico Educational Retirement Board bought a new stake in Dayforce in the 2nd quarter worth approximately $392,000. Acadian Asset Management LLC bought a new stake in Dayforce in the 2nd quarter worth approximately $287,000. Prudential PLC purchased a new stake in shares of Dayforce during the 2nd quarter worth approximately $490,000. Finally, Texas Permanent School Fund Corp bought a new position in shares of Dayforce during the 2nd quarter valued at approximately $1,281,000.

About Dayforce

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.