Dayforce (NYSE:DAY) Price Target Cut to $83.00 by Analysts at Citigroup

Dayforce (NYSE:DAY - Get Free Report) had its price target lowered by investment analysts at Citigroup from $90.00 to $83.00 in a report released on Thursday,Benzinga reports. The firm presently has a "buy" rating on the stock. Citigroup's price target indicates a potential upside of 19.34% from the company's previous close.

Several other analysts have also recently issued reports on DAY. Barclays reduced their price target on shares of Dayforce from $84.00 to $80.00 and set an "equal weight" rating on the stock in a research report on Friday, January 10th. Mizuho increased their target price on shares of Dayforce from $85.00 to $95.00 and gave the stock an "outperform" rating in a report on Wednesday, November 13th. Stifel Nicolaus boosted their price target on shares of Dayforce from $82.00 to $90.00 and gave the stock a "buy" rating in a research note on Wednesday, December 18th. TD Cowen upped their price objective on Dayforce from $58.00 to $62.00 and gave the stock a "hold" rating in a research report on Monday, October 7th. Finally, BMO Capital Markets lifted their target price on Dayforce from $80.00 to $90.00 and gave the company an "outperform" rating in a report on Wednesday, November 13th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $80.07.

Dayforce Trading Down 0.9 %

Shares of DAY stock traded down $0.63 on Thursday, hitting $69.55. The stock had a trading volume of 1,450,937 shares, compared to its average volume of 1,343,622. The company's 50 day moving average price is $75.52 and its 200-day moving average price is $64.59. Dayforce has a 1 year low of $47.08 and a 1 year high of $82.69. 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 firm has a market capitalization of $10.97 billion, a P/E ratio of 210.77, a P/E/G ratio of 2.61 and a beta of 1.26.

Insider Buying and Selling at Dayforce

In related news, COO Stephen H. Holdridge sold 2,000 shares of the business's stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $69.25, for a total value of $138,500.00. Following the completion of the sale, the chief operating officer now directly owns 98,437 shares of the company's stock, valued at $6,816,762.25. The trade was a 1.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO David D. Ossip sold 858,697 shares of the firm's stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $79.55, for a total value of $68,309,346.35. Following the transaction, the chief executive officer now directly owns 794,527 shares in the company, valued at approximately $63,204,622.85. The trade was a 51.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 863,697 shares of company stock worth $68,672,436 over the last three months. Insiders own 4.90% of the company's stock.

Institutional Investors Weigh In On Dayforce

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC increased its holdings in shares of Dayforce by 167.7% in the 4th quarter. SG Americas Securities LLC now owns 19,322 shares of the company's stock valued at $1,404,000 after acquiring an additional 12,103 shares during the period. Retireful LLC purchased a new position in Dayforce during the 4th quarter worth $1,636,000. USA Financial Formulas acquired a new position in Dayforce in the fourth quarter valued at $224,000. Assenagon Asset Management S.A. raised its holdings in shares of Dayforce by 7.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 41,842 shares of the company's stock valued at $3,039,000 after buying an additional 2,893 shares during the last quarter. Finally, Friedenthal Financial acquired a new stake in shares of Dayforce during the fourth quarter worth about $824,000.

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.