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

Dayforce (NYSE:DAY)‘s stock had its “buy” rating reissued by Needham & Company LLC in a report released on Thursday, Benzinga reports. They presently have a $82.00 price objective on the stock. Needham & Company LLC’s target price points to a potential upside of 9.00% from the stock’s current price.

DAY has been the subject of several other research reports. KeyCorp initiated coverage on Dayforce in a report on Tuesday, September 24th. They set an “overweight” rating and a $70.00 price objective for the company. Citigroup raised their target price on Dayforce from $74.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. Piper Sandler upgraded Dayforce from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $68.00 to $71.00 in a research note on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft raised their target price on Dayforce from $70.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, Mizuho raised their target price on Dayforce from $70.00 to $80.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Five research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $72.67.

Dayforce Stock Up 6.0 %

Dayforce stock opened at $75.23 on Thursday. Dayforce has a twelve month low of $47.08 and a twelve month high of $75.41. The business has a fifty day moving average of $61.11 and a two-hundred day moving average of $56.91. The company has a quick ratio of 1.11, a current ratio of 1.15 and a debt-to-equity ratio of 0.47. The firm has a market cap of $11.89 billion, a P/E ratio of 227.98, a P/E/G ratio of 2.52 and a beta of 1.29.

Dayforce (NYSE:DAY) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.18 by $0.05. Dayforce had a return on equity of 6.69% and a net margin of 3.12%. The firm had revenue of $423.30 million during the quarter, compared to analyst estimates of $417.41 million. On average, analysts forecast that Dayforce will post 1.07 earnings per share for the current fiscal year.

Insider Activity

In other Dayforce news, COO Stephen H. Holdridge sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $69.25, for a total value of $138,500.00. Following the transaction, the chief operating officer now directly owns 98,437 shares of the company’s stock, valued at $6,816,762.25. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, COO Stephen H. Holdridge sold 2,000 shares of Dayforce stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $69.25, for a total transaction of $138,500.00. Following the sale, the chief operating officer now owns 98,437 shares of the company’s stock, valued at approximately $6,816,762.25. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Stephen H. Holdridge sold 1,000 shares of Dayforce stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $65.00, for a total transaction of $65,000.00. Following the sale, the chief operating officer now directly owns 100,437 shares in the company, valued at approximately $6,528,405. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,643 shares of company stock worth $307,617 in the last ninety days. Company insiders own 4.90% of the company’s stock.

Institutional Trading of Dayforce

Several institutional investors have recently made changes to their positions in the company. Financial Perspectives Inc acquired a new stake in Dayforce in the 2nd quarter valued at approximately $28,000. Quent Capital LLC acquired a new stake in Dayforce in the 3rd quarter valued at approximately $28,000. Sentry Investment Management LLC acquired a new stake in Dayforce in the 2nd quarter valued at approximately $33,000. Farther Finance Advisors LLC acquired a new stake in Dayforce in the 3rd quarter valued at approximately $40,000. Finally, Benjamin F. Edwards & Company Inc. acquired a new stake in Dayforce in the 2nd quarter valued at approximately $62,000.

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.