Dayforce (NYSE:DAY) Earns Overweight Rating from Piper Sandler

Dayforce (NYSE:DAY)‘s stock had its “overweight” rating restated by analysts at Piper Sandler in a report issued on Wednesday,Benzinga reports. They currently have a $83.00 target price on the stock, down from their prior target price of $94.00. Piper Sandler’s price target suggests a potential upside of 26.54% from the stock’s current price.

Other equities analysts have also issued reports about the stock. Barclays lowered their price objective on shares of Dayforce from $84.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Friday, January 10th. Scotiabank initiated coverage on shares of Dayforce in a report on Monday, November 18th. They issued a “sector perform” rating and a $75.00 target price on the stock. Mizuho increased their price target on shares of Dayforce from $85.00 to $95.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Jefferies Financial Group lifted their price objective on Dayforce from $55.00 to $65.00 and gave the company a “hold” rating in a report on Tuesday, October 22nd. Finally, Citigroup cut 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. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Dayforce has an average rating of “Moderate Buy” and a consensus target price of $78.64.

Dayforce Trading Down 0.6 %

Shares of Dayforce stock opened at $65.59 on Wednesday. The company’s fifty day moving average is $73.63 and its two-hundred day moving average is $66.39. Dayforce has a 1 year low of $47.08 and a 1 year high of $82.69. 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 company has a market capitalization of $10.34 billion, a P/E ratio of 198.78, a PEG ratio of 2.59 and a beta of 1.26.

Dayforce (NYSE:DAY) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.09). Dayforce had a net margin of 3.12% and a return on equity of 6.69%. Analysts forecast that Dayforce will post 1.07 earnings per share for the current year.

Insider Buying and Selling

In related news, COO Stephen H. Holdridge sold 1,000 shares of Dayforce stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $76.26, for a total transaction of $76,260.00. Following the completion of the sale, the chief operating officer now owns 121,022 shares in the company, valued at approximately $9,229,137.72. This trade represents a 0.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO David D. Ossip sold 858,697 shares of the business’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $79.55, for a total transaction of $68,309,346.35. Following the completion of the transaction, the chief executive officer now directly owns 794,527 shares of the company’s stock, valued at $63,204,622.85. The trade was a 51.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 860,697 shares of company stock worth $68,456,936 in the last three months. Corporate insiders own 4.90% of the company’s stock.

Institutional Investors Weigh In On Dayforce

Hedge funds and other institutional investors have recently modified their holdings of the company. Farther Finance Advisors LLC acquired a new stake in Dayforce during the third quarter worth approximately $40,000. Quarry LP purchased a new position in shares of Dayforce during the 3rd quarter worth $51,000. Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in shares of Dayforce during the third quarter worth $74,000. Smartleaf Asset Management LLC grew its position in shares of Dayforce by 69.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,227 shares of the company’s stock valued at $89,000 after purchasing an additional 501 shares during the period. Finally, Blue Trust Inc. acquired a new position in Dayforce in the third quarter valued at $91,000.

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.