Dayforce (NYSE:DAY) PT Raised to $65.00 at Jefferies Financial Group

Dayforce (NYSE:DAY) had its price objective raised by analysts at Jefferies Financial Group from $55.00 to $65.00 in a research note issued on Tuesday, Benzinga reports. The firm currently has a “hold” rating on the stock. Jefferies Financial Group’s target price points to a potential upside of 1.17% from the stock’s current price.

Several other research analysts also recently commented on the stock. KeyCorp began coverage on shares of Dayforce in a report on Tuesday, September 24th. They issued an “overweight” rating and a $70.00 target price on the stock. Mizuho boosted their price objective on shares of Dayforce from $70.00 to $80.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Piper Sandler upgraded shares of Dayforce from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $68.00 to $71.00 in a report on Wednesday, July 31st. Needham & Company LLC restated a “buy” rating and set a $82.00 price objective on shares of Dayforce in a report on Wednesday, July 31st. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Dayforce from $70.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Five investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Dayforce currently has a consensus rating of “Moderate Buy” and a consensus target price of $69.75.

Dayforce Stock Down 0.8 %

Dayforce stock opened at $64.25 on Tuesday. The company has a market capitalization of $10.15 billion, a P/E ratio of 194.70, a P/E/G ratio of 2.23 and a beta of 1.29. The firm’s fifty day simple moving average is $58.88 and its 200-day simple moving average is $56.49. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49. Dayforce has a 1-year low of $47.08 and a 1-year high of $74.66.

Dayforce (NYSE:DAY) last announced its earnings results on Wednesday, July 31st. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.18 by $0.05. The firm had revenue of $423.30 million for the quarter, compared to the consensus estimate of $417.41 million. Dayforce had a net margin of 2.89% and a return on equity of 6.35%. Sell-side analysts forecast that Dayforce will post 1.07 earnings per share for the current fiscal year.

Insider Buying and Selling at Dayforce

In other Dayforce news, insider Jeffrey Scott Jacobs sold 643 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $63.37, for a total value of $40,746.91. Following the transaction, the insider now directly owns 34,074 shares in the company, valued at $2,159,269.38. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Dayforce news, COO Stephen H. Holdridge sold 1,000 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $63.37, for a total value of $63,370.00. Following the completion of the transaction, the chief operating officer now directly owns 101,437 shares of the company’s stock, valued at approximately $6,428,062.69. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jeffrey Scott Jacobs sold 643 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $63.37, for a total transaction of $40,746.91. Following the completion of the transaction, the insider now directly owns 34,074 shares of the company’s stock, valued at approximately $2,159,269.38. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company 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 modified their holdings of the business. Signaturefd LLC bought a new stake in shares of Dayforce during the third quarter worth approximately $96,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Dayforce during the third quarter worth approximately $480,000. Blue Trust Inc. bought a new stake in shares of Dayforce during the third quarter worth approximately $91,000. V Square Quantitative Management LLC bought a new stake in shares of Dayforce during the third quarter worth approximately $387,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd bought a new stake in shares of Dayforce during the third quarter worth approximately $832,000.

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.