Barclays Lowers Dayforce (NYSE:DAY) Price Target to $80.00

Dayforce (NYSE:DAY) had its price objective reduced by equities researchers at Barclays from $84.00 to $80.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s price target indicates a potential upside of 13.88% from the company’s current price.

DAY has been the subject of several other research reports. Piper Sandler restated an “overweight” rating and issued a $94.00 price target (up previously from $82.00) on shares of Dayforce in a report on Wednesday, November 13th. Needham & Company LLC upped their target price on Dayforce from $82.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. BMO Capital Markets increased their target price on Dayforce from $80.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Mizuho boosted their price target on Dayforce from $85.00 to $95.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Finally, Scotiabank initiated coverage on Dayforce in a research report on Monday, November 18th. They set a “sector perform” rating and a $75.00 price objective on the stock. Seven investment 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 presently has an average rating of “Moderate Buy” and an average price target of $79.93.

Dayforce Stock Up 0.2 %

Shares of Dayforce stock traded up $0.12 during trading on Friday, hitting $70.25. 355,227 shares of the stock traded hands, compared to its average volume of 1,076,314. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.47. The stock’s fifty day simple moving average is $76.50 and its 200 day simple moving average is $63.74. The firm has a market cap of $11.08 billion, a P/E ratio of 212.89, a price-to-earnings-growth ratio of 3.68 and a beta of 1.26. Dayforce has a 52-week low of $47.08 and a 52-week high of $82.69.

Insiders Place Their Bets

In other Dayforce news, CEO David D. Ossip sold 858,697 shares of Dayforce stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 794,527 shares in the company, valued at approximately $63,204,622.85. The trade was a 51.94 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Stephen H. Holdridge sold 1,000 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $63.37, for a total transaction of $63,370.00. Following the completion of the sale, the chief operating officer now owns 101,437 shares in the company, valued at $6,428,062.69. The trade was a 0.98 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 865,340 shares of company stock valued at $68,770,223. Insiders own 4.90% of the company’s stock.

Hedge Funds Weigh In On Dayforce

Institutional investors and hedge funds have recently modified their holdings of the stock. Select Equity Group L.P. acquired a new stake in Dayforce during the second quarter worth about $721,310,000. Principal Financial Group Inc. acquired a new stake in shares of Dayforce during the 3rd quarter worth approximately $11,135,000. KBC Group NV acquired a new stake in shares of Dayforce during the 3rd quarter valued at about $946,000. Adero Partners LLC purchased a new position in shares of Dayforce in the 3rd quarter valued at about $4,987,000. Finally, Sumitomo Mitsui Trust Group Inc. purchased a new position in shares of Dayforce in the 3rd quarter valued at about $19,273,000.

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.