Dayforce (NYSE:DAY) Given New $70.00 Price Target at Barclays

Dayforce (NYSE:DAY) had its price target raised by Barclays from $63.00 to $70.00 in a research report issued on Thursday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s price target would indicate a potential downside of 2.34% from the company’s previous close.

Several other equities research analysts have also issued reports on DAY. Needham & Company LLC reaffirmed a “buy” rating and issued a $82.00 price objective on shares of Dayforce in a research note on Thursday. Mizuho boosted their target price on shares of Dayforce from $70.00 to $80.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. TD Cowen raised their price target on Dayforce from $58.00 to $62.00 and gave the company a “hold” rating in a research report on Monday, October 7th. Jefferies Financial Group raised their price target on Dayforce from $55.00 to $65.00 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. Finally, Deutsche Bank Aktiengesellschaft raised 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. Five analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Dayforce presently has a consensus rating of “Moderate Buy” and a consensus price target of $71.75.

Dayforce Stock Performance

Shares of DAY traded up $1.60 during mid-day trading on Thursday, reaching $71.68. 1,564,023 shares of the company’s stock traded hands, compared to its average volume of 1,579,964. The business’s 50-day moving average price is $60.43 and its 200-day moving average price is $56.70. The stock has a market capitalization of $11.33 billion, a P/E ratio of 239.53, a price-to-earnings-growth ratio of 2.23 and a beta of 1.29. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.11 and a current ratio of 1.11. Dayforce has a 12 month low of $47.08 and a 12 month high of $74.66.

Dayforce (NYSE:DAY) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.05. Dayforce had a net margin of 2.89% and a return on equity of 6.35%. The firm had revenue of $423.30 million for the quarter, compared to analyst estimates of $417.41 million. Equities analysts predict that Dayforce will post 1.07 earnings per share for the current year.

Insider Activity at Dayforce

In other news, COO Stephen H. Holdridge sold 1,000 shares of the stock in a transaction on Tuesday, October 15th. The shares were 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 directly owns 101,437 shares in the company, valued at $6,428,062.69. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Jeffrey Scott Jacobs sold 643 shares of Dayforce stock in a transaction dated Tuesday, October 15th. The shares were 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 in the company, valued at $2,159,269.38. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 transaction of $63,370.00. Following the transaction, the chief operating officer now directly owns 101,437 shares of the company’s stock, valued at approximately $6,428,062.69. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,643 shares of company stock valued at $169,117 in the last quarter. Insiders own 4.90% of the company’s stock.

Hedge Funds Weigh In On Dayforce

Several hedge funds have recently bought and sold shares of DAY. Bleakley Financial Group LLC lifted its position in Dayforce by 9.9% during the third quarter. Bleakley Financial Group LLC now owns 4,867 shares of the company’s stock valued at $298,000 after purchasing an additional 439 shares during the last quarter. Quent Capital LLC bought a new stake in Dayforce during the 3rd quarter valued at $28,000. Financial Perspectives Inc purchased a new position in Dayforce during the 2nd quarter valued at $28,000. Farther Finance Advisors LLC purchased a new position in Dayforce during the 3rd quarter valued at $40,000. Finally, Sentry Investment Management LLC purchased a new position in Dayforce during the 2nd quarter valued at $33,000.

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.