Dayforce (NYSE:DAY) Given New $55.00 Price Target at Scotiabank

Dayforce (NYSE:DAY) had its price objective trimmed by Scotiabank from $72.00 to $55.00 in a research note released on Monday,Benzinga reports. The firm currently has a sector perform rating on the stock.

A number of other analysts have also recently issued reports on DAY. Barclays lowered their target price on Dayforce from $80.00 to $69.00 and set an “equal weight” rating for the company in a research note on Thursday, February 6th. TD Cowen raised Dayforce from a “hold” rating to a “buy” rating and increased their target price for the stock from $67.00 to $68.00 in a research note on Friday, March 7th. Citigroup lowered their target price on Dayforce from $90.00 to $83.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Cowen raised Dayforce from a “hold” rating to a “buy” rating in a research note on Friday, March 7th. Finally, Jefferies Financial Group decreased their price target on shares of Dayforce from $80.00 to $75.00 and set a “hold” rating for the company in a research note on Thursday, February 6th. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $77.86.

Dayforce Stock Up 2.8 %

Shares of NYSE DAY opened at $56.92 on Monday. The firm’s 50-day simple moving average is $65.36 and its 200 day simple moving average is $67.81. The company has a market cap of $9.05 billion, a price-to-earnings ratio of 517.54, a price-to-earnings-growth ratio of 2.49 and a beta of 1.33. The company has a quick ratio of 1.15, a current ratio of 1.13 and a debt-to-equity ratio of 0.47. Dayforce has a 12-month low of $47.08 and a 12-month high of $82.69.

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

Insider Buying and Selling at Dayforce

In other Dayforce news, COO Stephen H. Holdridge sold 1,000 shares of Dayforce stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $71.33, for a total value of $71,330.00. Following the transaction, the chief operating officer now owns 119,022 shares in the company, valued at $8,489,839.26. The trade was a 0.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 4.90% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Principal Financial Group Inc. acquired a new stake in shares of Dayforce during the third quarter valued at about $11,135,000. Sumitomo Mitsui Trust Group Inc. acquired a new position in Dayforce in the third quarter valued at approximately $19,273,000. KBC Group NV acquired a new position in Dayforce in the third quarter valued at approximately $946,000. CIBC Asset Management Inc acquired a new position in Dayforce in the third quarter valued at approximately $1,434,000. Finally, Empirical Finance LLC acquired a new position in Dayforce in the third quarter valued at approximately $236,000.

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.