Dayforce (NYSE:DAY) Now Covered by Scotiabank

Scotiabank began coverage on shares of Dayforce (NYSE:DAY) in a research note issued to investors on Monday,Benzinga reports. The firm issued a sector perform rating and a $75.00 target price on the stock.

Other equities analysts have also issued research reports about the stock. Mizuho upped their price target on shares of Dayforce from $85.00 to $95.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Piper Sandler restated an “overweight” rating and set a $94.00 price objective (up from $82.00) on shares of Dayforce in a report on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft lifted their target price on Dayforce from $70.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, August 1st. KeyCorp boosted their price objective on shares of Dayforce from $80.00 to $92.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Finally, BMO Capital Markets raised their price objective on Dayforce from $80.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Dayforce currently has an average rating of “Moderate Buy” and an average price target of $78.77.

Dayforce Stock Up 0.2 %

DAY opened at $74.70 on Monday. Dayforce has a 12 month low of $47.08 and a 12 month high of $81.32. The business has a 50-day moving average of $65.44 and a two-hundred day moving average of $58.15. 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 stock has a market capitalization of $11.78 billion, a price-to-earnings ratio of 226.36, a price-to-earnings-growth ratio of 3.50 and a beta of 1.27.

Insider Activity at Dayforce

In other Dayforce news, COO Stephen H. Holdridge sold 1,000 shares of Dayforce stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $65.00, for a total value of $65,000.00. Following the completion of the transaction, the chief operating officer now directly owns 100,437 shares in the company, valued at $6,528,405. The trade was a 0.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jeffrey Scott Jacobs sold 643 shares of the 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 sale, the insider now owns 34,074 shares in the company, valued at $2,159,269.38. The trade was a 1.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,643 shares of company stock valued at $384,617 over the last three months. 4.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Candriam S.C.A. acquired a new position in shares of Dayforce during the second quarter valued at $6,027,000. New Mexico Educational Retirement Board acquired a new stake in shares of Dayforce in the second quarter valued at approximately $392,000. Acadian Asset Management LLC bought a new stake in shares of Dayforce during the second quarter valued at approximately $287,000. Prudential PLC acquired a new position in shares of Dayforce during the second quarter worth approximately $490,000. Finally, Texas Permanent School Fund Corp bought a new position in Dayforce in the 2nd quarter worth approximately $1,281,000.

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.