Stifel Nicolaus Raises Dayforce (NYSE:DAY) Price Target to $90.00

Dayforce (NYSE:DAY - Free Report) had its target price hoisted by Stifel Nicolaus from $82.00 to $90.00 in a research note released on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other analysts also recently issued reports on DAY. Piper Sandler reiterated an "overweight" rating and set a $94.00 price target (up previously from $82.00) on shares of Dayforce in a research report on Wednesday, November 13th. Citigroup lifted their target price 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. Jefferies Financial Group increased their price target on shares of Dayforce from $55.00 to $65.00 and gave the stock a "hold" rating in a report on Tuesday, October 22nd. Scotiabank initiated coverage on shares of Dayforce in a report on Monday, November 18th. They set a "sector perform" rating and a $75.00 price objective for the company. Finally, Barclays upped their target price on shares of Dayforce from $80.00 to $84.00 and gave the stock an "equal weight" rating in a research report on Friday, December 6th. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, Dayforce currently has an average rating of "Moderate Buy" and a consensus price target of $79.86.

Dayforce Price Performance

NYSE:DAY traded down $3.87 during trading hours on Wednesday, hitting $73.59. 1,538,574 shares of the company's stock traded hands, compared to its average volume of 1,599,843. The firm has a market cap of $11.61 billion, a P/E ratio of 223.01, a P/E/G ratio of 3.68 and a beta of 1.26. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.47. The business's fifty day simple moving average is $73.99 and its two-hundred day simple moving average is $61.32. Dayforce has a 52 week low of $47.08 and a 52 week high of $82.69.

Insider Activity at Dayforce

In other Dayforce news, COO Stephen H. Holdridge sold 1,000 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 $63,370.00. Following the transaction, the chief operating officer now owns 101,437 shares in the company, valued at approximately $6,428,062.69. The trade was a 0.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David D. Ossip sold 858,697 shares of the company's 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 of the company's stock, valued at approximately $63,204,622.85. This trade represents a 51.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 865,340 shares of company stock worth $68,770,223 in the last ninety days. 4.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Dayforce

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

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.