Dayforce (NYSE:DAY) Upgraded at TD Cowen

TD Cowen upgraded shares of Dayforce (NYSE:DAY) from a hold rating to a buy rating in a research report sent to investors on Friday morning, MarketBeat.com reports. The firm currently has $68.00 target price on the stock, up from their prior target price of $67.00.

Several other research firms have also weighed in on DAY. Scotiabank lowered their target price on shares of Dayforce from $75.00 to $72.00 and set a “sector perform” rating on the stock in a report on Thursday, February 6th. Needham & Company LLC reissued a “buy” rating and set a $95.00 price objective on shares of Dayforce in a report on Thursday, February 6th. Citigroup decreased their price objective on shares of Dayforce from $90.00 to $83.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Piper Sandler reissued an “overweight” rating and set a $83.00 price objective (down previously from $94.00) on shares of Dayforce in a report on Wednesday, February 5th. Finally, Mizuho increased their price objective on shares of Dayforce from $85.00 to $95.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Dayforce has a consensus rating of “Moderate Buy” and an average price target of $79.07.

Dayforce Trading Up 1.4 %

Shares of Dayforce stock opened at $55.43 on Friday. The firm has a market capitalization of $8.81 billion, a PE ratio of 503.96, a price-to-earnings-growth ratio of 2.49 and a beta of 1.33. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.13 and a quick ratio of 1.15. The company’s fifty day moving average price is $67.54 and its two-hundred day moving average price is $67.94. Dayforce has a 52-week low of $47.08 and a 52-week high of $82.69.

Dayforce (NYSE:DAY) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.09). Dayforce had a net margin of 1.03% and a return on equity of 6.49%. On average, analysts expect that Dayforce will post 1.48 EPS for the current year.

Insider Buying and Selling at Dayforce

In related news, COO Stephen H. Holdridge sold 1,000 shares of the stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $71.33, for a total value of $71,330.00. Following the sale, the chief operating officer now directly owns 119,022 shares in the company, valued at $8,489,839.26. This trade represents a 0.83 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 4.90% of the company’s stock.

Institutional Trading of Dayforce

A number of hedge funds have recently modified their holdings of DAY. Siemens Fonds Invest GmbH acquired a new stake in Dayforce during the 4th quarter worth approximately $3,669,000. Mackenzie Financial Corp grew its stake in shares of Dayforce by 557.6% during the 4th quarter. Mackenzie Financial Corp now owns 34,038 shares of the company’s stock worth $2,468,000 after acquiring an additional 28,862 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Dayforce by 23.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,207,045 shares of the company’s stock valued at $87,680,000 after buying an additional 226,353 shares in the last quarter. Woodline Partners LP lifted its holdings in Dayforce by 53.1% during the 4th quarter. Woodline Partners LP now owns 634,345 shares of the company’s stock valued at $46,079,000 after purchasing an additional 220,112 shares during the last quarter. Finally, Sone Capital Management LLC acquired a new position in Dayforce in the fourth quarter valued at about $12,234,000.

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.