Scotiabank Begins Coverage on Dayforce (NYSE:DAY)

Equities researchers at Scotiabank started coverage on shares of Dayforce (NYSE:DAY) in a note issued to investors on Monday, MarketBeat Ratings reports. The brokerage set a “sector perform” rating and a $75.00 price target on the stock. Scotiabank’s price target indicates a potential upside of 0.25% from the stock’s current price.

Several other equities analysts also recently commented on the stock. Needham & Company LLC boosted their price target on shares of Dayforce from $82.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Piper Sandler reissued an “overweight” rating and set a $94.00 target price (up from $82.00) on shares of Dayforce in a research note on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft increased their price target on Dayforce from $70.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. BMO Capital Markets boosted their price objective on Dayforce from $80.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Finally, Mizuho raised their target price on shares of Dayforce from $85.00 to $95.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Dayforce currently has an average rating of “Moderate Buy” and an average price target of $78.77.

Dayforce Trading Up 0.2 %

NYSE DAY opened at $74.81 on Monday. 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 firm has a market cap of $11.80 billion, a price-to-earnings ratio of 224.58, a PEG ratio of 3.50 and a beta of 1.27. The firm has a 50 day simple moving average of $65.80 and a 200-day simple moving average of $58.27. Dayforce has a one year low of $47.08 and a one year high of $81.32.

Insider Buying and Selling

In related news, insider Jeffrey Scott Jacobs sold 643 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $63.37, for a total transaction of $40,746.91. Following the transaction, the insider now owns 34,074 shares in the company, valued at $2,159,269.38. This trade represents a 1.85 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Stephen H. Holdridge sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $63.37, for a total value of $63,370.00. Following the completion of the sale, the chief operating officer now owns 101,437 shares of the company’s stock, valued at approximately $6,428,062.69. This represents a 0.98 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,643 shares of company stock worth $460,877 in the last ninety days. 4.90% of the stock is owned by corporate insiders.

Institutional Trading of Dayforce

A number of large investors have recently bought and sold shares of DAY. Financial Perspectives Inc purchased a new stake in shares of Dayforce in the second quarter valued at about $28,000. Quent Capital LLC purchased a new stake in Dayforce during the 3rd quarter valued at approximately $28,000. Sentry Investment Management LLC acquired a new stake in Dayforce during the 2nd quarter worth approximately $33,000. Farther Finance Advisors LLC purchased a new position in shares of Dayforce in the 3rd quarter valued at approximately $40,000. Finally, Quarry LP acquired a new position in shares of Dayforce in the third quarter valued at approximately $51,000.

Dayforce Company Profile

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.