Dayforce (NYSE:DAY) Given New $90.00 Price Target at BMO Capital Markets

Dayforce (NYSE:DAY - Get Free Report) had its target price raised by equities research analysts at BMO Capital Markets from $80.00 to $90.00 in a research report issued to clients and investors on Wednesday, MarketBeat reports. The firm presently has an "outperform" rating on the stock. BMO Capital Markets' price target points to a potential upside of 16.63% from the stock's previous close.

Several other brokerages have also recently issued reports on DAY. Needham & Company LLC reaffirmed a "buy" rating and set a $82.00 price objective on shares of Dayforce in a report on Thursday, October 31st. KeyCorp began coverage on shares of Dayforce in a research note on Tuesday, September 24th. They set an "overweight" rating and a $70.00 target price on the stock. Mizuho raised their price objective on shares of Dayforce from $80.00 to $85.00 and gave the company an "outperform" rating in a report on Thursday, October 31st. Barclays raised their price target on Dayforce from $63.00 to $70.00 and gave the company an "equal weight" rating in a research note on Thursday, October 31st. Finally, Jefferies Financial Group boosted their target price on Dayforce from $55.00 to $65.00 and gave the stock a "hold" rating in a research note on Tuesday, October 22nd. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $79.08.

Dayforce Stock Performance

Shares of NYSE:DAY traded down $1.79 during mid-day trading on Wednesday, reaching $77.17. 2,198,153 shares of the company traded hands, compared to its average volume of 1,612,641. Dayforce has a 52 week low of $47.08 and a 52 week high of $81.32. 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 cap of $12.17 billion, a PE ratio of 234.43, a PEG ratio of 3.71 and a beta of 1.27. The company's 50 day moving average price is $64.14 and its 200-day moving average price is $57.82.

Insider Buying and Selling at Dayforce

In related news, insider Jeffrey Scott Jacobs sold 643 shares of Dayforce stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $63.37, for a total transaction of $40,746.91. Following the transaction, the insider now directly owns 34,074 shares of the company's stock, valued at $2,159,269.38. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, COO Stephen H. Holdridge sold 1,000 shares of the business's stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $63.37, for a total value of $63,370.00. Following the completion of 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jeffrey Scott Jacobs sold 643 shares of the firm'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 $40,746.91. Following the completion of the transaction, the insider now owns 34,074 shares in the company, valued at $2,159,269.38. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,643 shares of company stock worth $384,617 over the last quarter. 4.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Dayforce

A number of institutional investors have recently added to or reduced their stakes in DAY. Select Equity Group L.P. bought a new stake in Dayforce in the second quarter valued at $721,310,000. EdgePoint Investment Group Inc. bought a new position in shares of Dayforce in the second quarter worth about $521,396,000. Dragoneer Investment Group LLC acquired a new position in Dayforce in the second quarter valued at approximately $193,274,000. Dimensional Fund Advisors LP bought a new stake in shares of Dayforce during the 2nd quarter valued at $51,027,000. Finally, Cannae Holdings Inc. bought a new position in shares of Dayforce in the 2nd quarter worth $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.