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

Dayforce (NYSE:DAY - Free Report) had its price objective raised by Barclays from $70.00 to $80.00 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other research firms have also weighed in on DAY. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Dayforce from $70.00 to $75.00 and gave the company a "buy" rating in a research report on Thursday, August 1st. TD Cowen lifted their price objective on shares of Dayforce from $58.00 to $62.00 and gave the company a "hold" rating in a research report on Monday, October 7th. BMO Capital Markets lifted their price objective on shares of Dayforce from $80.00 to $90.00 and gave the company an "outperform" rating in a research report on Wednesday. Needham & Company LLC lifted their price objective on shares of Dayforce from $82.00 to $95.00 and gave the company a "buy" rating in a research report on Wednesday. Finally, Mizuho lifted their price objective on shares of Dayforce from $85.00 to $95.00 and gave the company an "outperform" rating in a research report on Wednesday. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Dayforce currently has a consensus rating of "Moderate Buy" and an average price target of $79.08.

Dayforce Stock Performance

Shares of Dayforce stock traded down $1.79 during trading on Wednesday, reaching $77.17. The company's stock had a trading volume of 2,204,792 shares, compared to its average volume of 1,612,690. The company has a 50-day moving average price of $64.14 and a two-hundred day moving average price of $57.82. The firm has a market cap of $12.17 billion, a PE ratio of 233.86, a P/E/G ratio of 3.71 and a beta of 1.27. Dayforce has a fifty-two week low of $47.08 and a fifty-two week high of $81.32. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.47.

Insiders Place Their Bets

In other Dayforce news, COO Stephen H. Holdridge sold 1,000 shares of the business'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 sale, the chief operating officer now directly owns 101,437 shares in the company, valued at approximately $6,428,062.69. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Jeffrey Scott Jacobs sold 643 shares of the business'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 sale, the insider now directly owns 34,074 shares in the company, valued at $2,159,269.38. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Stephen H. Holdridge sold 1,000 shares of the business's stock in a transaction dated 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. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,643 shares of company stock worth $384,617. Corporate insiders own 4.90% of the company's stock.

Institutional Investors Weigh In On Dayforce

Several institutional investors and hedge funds have recently made changes to their positions in the business. Quent Capital LLC acquired a new position in Dayforce in the 3rd quarter valued at about $28,000. Financial Perspectives Inc acquired a new position in Dayforce in the 2nd quarter valued at about $28,000. Farther Finance Advisors LLC acquired a new position in Dayforce in the 3rd quarter valued at about $40,000. Sentry Investment Management LLC acquired a new position in Dayforce in the 2nd quarter valued at about $33,000. Finally, Livforsakringsbolaget Skandia Omsesidigt acquired a new position in Dayforce in the 3rd quarter valued at about $74,000.

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.