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

by · The Cerbat Gem

Dayforce (NYSE:DAY – Free Report) had its price target reduced by Barclays from $84.00 to $80.00 in a research note issued to investors on Friday,Benzinga reports. They currently have an equal weight rating on the stock.

DAY has been the topic of several other research reports. Citigroup lifted their price target on shares of Dayforce from $75.00 to $81.00 and gave the company a “buy” rating in a report on Thursday, October 31st. BMO Capital Markets upped their target price on shares of Dayforce from $80.00 to $90.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Mizuho increased their price target on Dayforce from $85.00 to $95.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Jefferies Financial Group boosted their price objective on Dayforce from $55.00 to $65.00 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. Finally, Scotiabank assumed coverage on Dayforce in a research report on Monday, November 18th. They set a “sector perform” rating and a $75.00 target price for the company. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Dayforce has an average rating of “Moderate Buy” and a consensus price target of $79.93.

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Dayforce Stock Up 0.2 %

DAY stock opened at $70.30 on Friday. The business’s 50-day moving average price is $76.40 and its 200-day moving average price is $63.88. The stock has a market cap of $11.09 billion, a P/E ratio of 213.04, a PEG ratio of 3.68 and a beta of 1.26. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.47. Dayforce has a twelve month low of $47.08 and a twelve month high of $82.69.

Insider Activity at Dayforce

In related news, COO Stephen H. Holdridge sold 2,000 shares of the stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $69.25, for a total value of $138,500.00. Following the completion of the transaction, the chief operating officer now owns 98,437 shares of the company’s stock, valued at approximately $6,816,762.25. This trade represents a 1.99 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO David D. Ossip sold 858,697 shares of Dayforce stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $79.55, for a total value of $68,309,346.35. Following the completion of the transaction, the chief executive officer now owns 794,527 shares of the company’s stock, valued at approximately $63,204,622.85. This represents a 51.94 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 865,340 shares of company stock valued at $68,770,223. 4.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Dayforce

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Select Equity Group L.P. purchased a new stake in Dayforce during the 2nd quarter valued at $721,310,000. EdgePoint Investment Group Inc. purchased a new stake in shares of Dayforce in the second quarter valued at $521,396,000. Dragoneer Investment Group LLC bought a new stake in shares of Dayforce in the 2nd quarter worth about $193,274,000. Dimensional Fund Advisors LP purchased a new position in shares of Dayforce during the 2nd quarter worth about $51,027,000. Finally, Cannae Holdings Inc. bought a new position in Dayforce during the 2nd quarter valued at about $49,600,000.

About Dayforce

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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.

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