Barclays Has Lowered Expectations for Dayforce (NYSE:DAY) Stock Price

Dayforce (NYSE:DAY) had its price objective dropped by analysts at Barclays from $84.00 to $80.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s target price points to a potential upside of 13.80% from the stock’s previous close.

Other research analysts have also issued research reports about the stock. Mizuho raised their price objective on shares of Dayforce from $85.00 to $95.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Piper Sandler reiterated an “overweight” rating and set a $94.00 price objective (up previously from $82.00) on shares of Dayforce in a research note on Wednesday, November 13th. Citigroup raised their price objective on shares of Dayforce from $75.00 to $81.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Needham & Company LLC raised their price objective on shares of Dayforce from $82.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $80.00 price target (down previously from $85.00) on shares of Dayforce in a research report on Wednesday. Seven 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, the company currently has an average rating of “Moderate Buy” and an average price target of $79.93.

Dayforce Price Performance

Shares of NYSE:DAY opened at $70.30 on Friday. The firm’s 50 day moving average is $76.40 and its two-hundred day moving average is $63.98. Dayforce has a 52 week low of $47.08 and a 52 week high of $82.69. The firm has a market capitalization 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 current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.47.

Insider Activity

In related news, CEO David D. Ossip sold 858,697 shares of Dayforce stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $79.55, for a total value of $68,309,346.35. Following the transaction, the chief executive officer now owns 794,527 shares in the company, valued at $63,204,622.85. This trade represents a 51.94 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Stephen H. Holdridge sold 2,000 shares of Dayforce stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $69.25, for a total transaction of $138,500.00. Following the completion of the transaction, the chief operating officer now owns 98,437 shares in the company, valued at $6,816,762.25. This trade represents a 1.99 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 865,340 shares of company stock worth $68,770,223. 4.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Financial Perspectives Inc acquired a new stake in shares of Dayforce during the 2nd quarter valued at about $28,000. Quent Capital LLC acquired a new stake in shares of Dayforce during the 3rd quarter valued at about $28,000. Sentry Investment Management LLC acquired a new stake in shares of Dayforce during the 2nd quarter valued at about $33,000. Farther Finance Advisors LLC acquired a new stake in shares of Dayforce during the 3rd quarter valued at about $40,000. Finally, Quarry LP acquired a new stake in shares of Dayforce during the 3rd 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.