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

Dayforce (NYSE:DAY) had its price objective dropped by equities research analysts at Barclays from $84.00 to $80.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Barclays‘s price target would suggest a potential upside of 13.88% from the company’s previous close.

Other analysts also recently issued reports about the company. Mizuho raised their target price on Dayforce from $85.00 to $95.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $80.00 price objective (down from $85.00) on shares of Dayforce in a report on Wednesday. Stifel Nicolaus lifted their target price on Dayforce from $82.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. TD Cowen increased their price target on Dayforce from $58.00 to $62.00 and gave the stock a “hold” rating in a report on Monday, October 7th. Finally, BMO Capital Markets boosted their price objective on shares of Dayforce from $80.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $79.93.

Dayforce Price Performance

DAY traded up $0.12 during trading on Friday, reaching $70.25. The company’s stock had a trading volume of 355,227 shares, compared to its average volume of 1,076,314. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.47. The firm has a fifty day simple moving average of $76.50 and a two-hundred day simple moving average of $63.74. The company has a market cap of $11.08 billion, a price-to-earnings ratio of 212.89, a PEG ratio of 3.68 and a beta of 1.26. Dayforce has a 1 year low of $47.08 and a 1 year high of $82.69.

Insider Activity

In other news, insider Jeffrey Scott Jacobs sold 643 shares of the business’s 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 completion of the sale, the insider now owns 34,074 shares in the company, valued at approximately $2,159,269.38. The trade was a 1.85 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Stephen H. Holdridge sold 1,000 shares of the stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $63.37, for a total transaction of $63,370.00. Following the completion of the transaction, the chief operating officer now directly owns 101,437 shares in the company, valued at $6,428,062.69. This trade represents a 0.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 865,340 shares of company stock valued at $68,770,223. 4.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of DAY. Financial Perspectives Inc purchased a new position in Dayforce in the 2nd quarter valued at $28,000. Quent Capital LLC acquired a new position in shares of Dayforce during the third quarter worth about $28,000. Sentry Investment Management LLC purchased a new position in Dayforce during the second quarter worth about $33,000. Farther Finance Advisors LLC purchased a new position in Dayforce during the third quarter worth about $40,000. Finally, Quarry LP acquired a new stake in Dayforce in the third quarter valued at about $51,000.

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.