Barclays Issues Pessimistic Forecast for Dayforce (NYSE:DAY) Stock Price

Dayforce (NYSE:DAY - Get Free Report) had its price objective lowered by equities researchers at Barclays from $84.00 to $80.00 in a report released on Friday,Benzinga reports. The firm presently has an "equal weight" rating on the stock. Barclays's price target would indicate a potential upside of 13.80% from the stock's previous close.

Other research analysts also recently issued reports about the company. Scotiabank began coverage on Dayforce in a report on Monday, November 18th. They set a "sector perform" rating and a $75.00 price target on the stock. Jefferies Financial Group boosted their price target on Dayforce from $55.00 to $65.00 and gave the company a "hold" rating in a research note on Tuesday, October 22nd. Stifel Nicolaus upped their price objective on Dayforce from $82.00 to $90.00 and gave the stock a "buy" rating in a research note on Wednesday, December 18th. KeyCorp lifted their target price on Dayforce from $80.00 to $92.00 and gave the company an "overweight" rating in a research report on Wednesday, November 13th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $80.00 price objective (down previously from $85.00) on shares of Dayforce in a research note on Wednesday. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $79.93.

Dayforce Stock Up 0.2 %

NYSE:DAY traded up $0.17 on Friday, reaching $70.30. 1,158,029 shares of the stock traded hands, compared to its average volume of 1,213,305. The company's fifty day simple moving average is $76.50 and its 200 day simple moving average is $63.74. The company has a market capitalization of $11.09 billion, a price-to-earnings ratio of 213.04, a PEG ratio of 3.68 and a beta of 1.26. Dayforce has a 12 month low of $47.08 and a 12 month high of $82.69. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.47.

Insider Activity at Dayforce

In other Dayforce news, CEO David D. Ossip sold 858,697 shares of the stock in a transaction dated 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 transaction, the chief executive officer now directly owns 794,527 shares in the company, valued at $63,204,622.85. This represents a 51.94 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $40,746.91. Following the completion of the sale, the insider now owns 34,074 shares of the company's stock, valued at approximately $2,159,269.38. This represents a 1.85 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 865,340 shares of company stock worth $68,770,223 in the last quarter. 4.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Dayforce

Large investors have recently bought and sold shares of the business. Financial Perspectives Inc bought a new position in shares of Dayforce in the 2nd quarter worth $28,000. Quent Capital LLC bought a new position in Dayforce in the third quarter worth about $28,000. Sentry Investment Management LLC purchased a new stake in shares of Dayforce during the second quarter valued at about $33,000. Farther Finance Advisors LLC bought a new stake in shares of Dayforce in the 3rd quarter valued at about $40,000. Finally, Quarry LP purchased a new position in shares of Dayforce in the 3rd quarter worth approximately $51,000.

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.