Dayforce (NYSE:DAY) Stock Price Expected to Rise, BMO Capital Markets Analyst Says

Dayforce (NYSE:DAY) had its price objective lifted by stock analysts at BMO Capital Markets from $80.00 to $90.00 in a report released on Wednesday, Marketbeat Ratings reports. The brokerage currently has an “outperform” rating on the stock. BMO Capital Markets’ price target points to a potential upside of 17.25% from the stock’s current price.

DAY has been the topic of a number of other reports. Deutsche Bank Aktiengesellschaft boosted their target price on Dayforce from $70.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Barclays upped their price objective on shares of Dayforce from $63.00 to $70.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. Needham & Company LLC restated a “buy” rating and set a $82.00 target price on shares of Dayforce in a research note on Thursday, October 31st. Jefferies Financial Group lifted their target price on shares of Dayforce from $55.00 to $65.00 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. Finally, TD Cowen increased their price target on shares of Dayforce from $58.00 to $62.00 and gave the company a “hold” rating in a report on Monday, October 7th. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $79.08.

Dayforce Trading Down 0.5 %

Dayforce stock opened at $76.76 on Wednesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.15 and a current ratio of 1.15. The stock has a 50-day simple moving average of $64.59 and a 200 day simple moving average of $57.96. The stock has a market capitalization of $12.11 billion, a P/E ratio of 232.61, a PEG ratio of 3.71 and a beta of 1.27. Dayforce has a 52 week low of $47.08 and a 52 week high of $81.32.

Insider Buying and Selling

In related news, insider Jeffrey Scott Jacobs sold 643 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $63.37, for a total value of $40,746.91. Following the completion of the transaction, the insider now owns 34,074 shares of the company’s stock, valued at $2,159,269.38. The trade was a 1.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Stephen H. Holdridge sold 1,000 shares of the stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $77.00, for a total transaction of $77,000.00. Following the sale, the chief operating officer now owns 122,022 shares in the company, valued at $9,395,694. The trade was a 0.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,643 shares of company stock valued at $384,617 over the last 90 days. 4.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Quent Capital LLC acquired a new stake in shares of Dayforce in the 3rd quarter valued at $28,000. Financial Perspectives Inc acquired a new stake in Dayforce in the second quarter valued at about $28,000. Farther Finance Advisors LLC bought a new position in Dayforce in the third quarter valued at about $40,000. Sentry Investment Management LLC bought a new position in shares of Dayforce in the second quarter worth about $33,000. Finally, Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in shares of Dayforce in the 3rd quarter valued at approximately $74,000.

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.