Mizuho Issues Positive Forecast for Dayforce (NYSE:DAY) Stock Price

Dayforce (NYSE:DAY) had its price target increased by Mizuho from $85.00 to $95.00 in a research report report published on Wednesday morning,Benzinga reports. Mizuho currently has an outperform rating on the stock.

Several other research firms have also issued reports on DAY. Needham & Company LLC raised their price target on Dayforce from $82.00 to $95.00 and gave the stock a “buy” rating in a research report on Wednesday. TD Cowen boosted their target price on Dayforce from $58.00 to $62.00 and gave the stock a “hold” rating in a research report on Monday, October 7th. KeyCorp initiated coverage on Dayforce in a research note on Tuesday, September 24th. They issued an “overweight” rating and a $70.00 price target for the company. Jefferies Financial Group lifted their price objective on shares of Dayforce from $55.00 to $65.00 and gave the stock a “hold” rating in a research note on Tuesday, October 22nd. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of Dayforce from $70.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $79.08.

Dayforce Trading Down 2.8 %

DAY opened at $74.56 on Wednesday. Dayforce has a fifty-two week low of $47.08 and a fifty-two week high of $81.32. The company has a market cap of $11.76 billion, a price-to-earnings ratio of 225.95, a price-to-earnings-growth ratio of 3.62 and a beta of 1.27. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.15 and a quick ratio of 1.15. The firm has a 50 day simple moving average of $65.44 and a 200 day simple moving average of $58.17.

Insider Activity

In other Dayforce news, COO Stephen H. Holdridge sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $69.25, for a total value of $138,500.00. Following the sale, the chief operating officer now owns 98,437 shares in the company, valued at $6,816,762.25. This represents a 1.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jeffrey Scott Jacobs sold 643 shares of Dayforce stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $63.37, for a total value of $40,746.91. Following the transaction, the insider now owns 34,074 shares of the company’s stock, valued at $2,159,269.38. This represents a 1.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,643 shares of company stock valued at $384,617. 4.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Dayforce

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

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.