Needham & Company LLC Reaffirms Buy Rating for Dayforce (NYSE:DAY)

Dayforce (NYSE:DAY)‘s stock had its “buy” rating reaffirmed by Needham & Company LLC in a note issued to investors on Thursday, Benzinga reports. They presently have a $82.00 target price on the stock. Needham & Company LLC’s price target suggests a potential upside of 16.99% from the stock’s previous close.

A number of other research analysts also recently issued reports on DAY. Mizuho increased their price objective on Dayforce from $70.00 to $80.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Deutsche Bank Aktiengesellschaft increased their price target on Dayforce from $70.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Jefferies Financial Group increased their price target on Dayforce from $55.00 to $65.00 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. TD Cowen increased their price target on Dayforce from $58.00 to $62.00 and gave the company a “hold” rating in a research report on Monday, October 7th. Finally, Citigroup increased their price target on Dayforce from $74.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. Five analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $70.67.

Dayforce Trading Up 7.3 %

NYSE DAY opened at $70.09 on Thursday. The stock has a 50-day simple moving average of $60.43 and a 200 day simple moving average of $56.70. The company has a market capitalization of $11.08 billion, a PE ratio of 233.63, a P/E/G ratio of 2.23 and a beta of 1.29. 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 12 month low of $47.08 and a 12 month high of $74.66.

Dayforce (NYSE:DAY) last released its quarterly earnings data on Wednesday, July 31st. The company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.05. Dayforce had a return on equity of 6.35% and a net margin of 2.89%. The business had revenue of $423.30 million during the quarter, compared to the consensus estimate of $417.41 million. Research analysts forecast that Dayforce will post 1.07 EPS for the current year.

Insider Buying and Selling

In related news, COO Stephen H. Holdridge sold 1,000 shares of Dayforce stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $63.37, for a total transaction of $63,370.00. Following the completion of the sale, the chief operating officer now directly owns 101,437 shares of the company’s stock, valued at approximately $6,428,062.69. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Dayforce news, insider Jeffrey Scott Jacobs sold 643 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $63.37, for a total transaction of $40,746.91. Following the transaction, the insider now owns 34,074 shares in the company, valued at $2,159,269.38. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Stephen H. Holdridge sold 1,000 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $63.37, for a total value of $63,370.00. Following the transaction, the chief operating officer now owns 101,437 shares in the company, valued at approximately $6,428,062.69. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,643 shares of company stock valued at $169,117. Insiders own 4.90% of the company’s stock.

Hedge Funds Weigh In On Dayforce

Hedge funds have recently added to or reduced their stakes in the stock. Quent Capital LLC bought a new position in Dayforce during the 3rd quarter worth $28,000. Financial Perspectives Inc bought a new position in Dayforce during the 2nd quarter worth $28,000. Farther Finance Advisors LLC bought a new position in shares of Dayforce in the 3rd quarter valued at $40,000. Sentry Investment Management LLC bought a new position in shares of Dayforce in the 2nd quarter valued at $33,000. Finally, Livforsakringsbolaget Skandia Omsesidigt bought a new position in shares of Dayforce in the 3rd quarter valued at $74,000.

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.