Barclays Forecasts Strong Price Appreciation for Dayforce (NYSE:DAY) Stock

Dayforce (NYSE:DAY - Free Report) had its price objective boosted by Barclays from $80.00 to $84.00 in a research note released on Friday morning,Benzinga reports. The firm currently has an equal weight rating on the stock.

DAY has been the subject of several other research reports. Jefferies Financial Group upped their target price on shares of Dayforce from $55.00 to $65.00 and gave the company a "hold" rating in a report on Tuesday, October 22nd. Citigroup boosted their price objective on shares of Dayforce from $75.00 to $81.00 and gave the company a "buy" rating in a research report on Thursday, October 31st. Piper Sandler restated an "overweight" rating and set a $94.00 target price (up previously from $82.00) on shares of Dayforce in a research report on Wednesday, November 13th. BMO Capital Markets boosted their price target on Dayforce from $80.00 to $90.00 and gave the company an "outperform" rating in a report on Wednesday, November 13th. Finally, TD Cowen raised their price objective on Dayforce from $58.00 to $62.00 and gave the stock a "hold" rating in a report on Monday, October 7th. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Dayforce has an average rating of "Moderate Buy" and an average price target of $79.08.

Dayforce Price Performance

Shares of NYSE DAY traded up $1.35 during trading on Friday, reaching $78.56. The company had a trading volume of 1,225,134 shares, compared to its average volume of 1,625,355. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.47. Dayforce has a twelve month low of $47.08 and a twelve month high of $82.69. The stock has a 50-day moving average price of $71.43 and a two-hundred day moving average price of $60.11. The stock has a market capitalization of $12.39 billion, a PE ratio of 238.07, a price-to-earnings-growth ratio of 3.79 and a beta of 1.26.

Insider Transactions at Dayforce

In related news, COO Stephen H. Holdridge sold 1,000 shares of the company's 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 of the company's stock, valued at approximately $6,428,062.69. This represents a 0.98 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jeffrey Scott Jacobs sold 643 shares of the firm's 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 directly owns 34,074 shares in the company, valued at $2,159,269.38. This trade represents a 1.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 865,340 shares of company stock worth $68,770,223. 4.90% of the stock is currently owned by company insiders.

Institutional Trading of Dayforce

Several large investors have recently bought and sold shares of the company. Select Equity Group L.P. purchased a new stake in shares of Dayforce during the second quarter worth about $721,310,000. EdgePoint Investment Group Inc. purchased a new stake in Dayforce during the 2nd quarter worth approximately $521,396,000. Dragoneer Investment Group LLC acquired a new position in shares of Dayforce in the 2nd quarter valued at approximately $193,274,000. Dimensional Fund Advisors LP purchased a new position in shares of Dayforce during the 2nd quarter valued at approximately $51,027,000. Finally, Cannae Holdings Inc. purchased a new position in shares of Dayforce during the 2nd quarter valued at approximately $49,600,000.

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.