KeyCorp Boosts Dayforce (NYSE:DAY) Price Target to $92.00

Dayforce (NYSE:DAY - Free Report) had its target price boosted by KeyCorp from $80.00 to $92.00 in a research report released on Wednesday,Benzinga reports. KeyCorp currently has an overweight rating on the stock.

Other research analysts have also issued research reports about the stock. TD Cowen increased their target price on shares of Dayforce from $58.00 to $62.00 and gave the stock a "hold" rating in a research note on Monday, October 7th. Mizuho increased their target price on shares of Dayforce from $85.00 to $95.00 and gave the stock an "outperform" rating in a research note on Wednesday. Barclays increased their target price on shares of Dayforce from $70.00 to $80.00 and gave the stock an "equal weight" rating in a research note on Wednesday. Citigroup increased their target price on shares of Dayforce from $75.00 to $81.00 and gave the stock a "buy" rating in a research note on Thursday, October 31st. Finally, BMO Capital Markets increased their target price on shares of Dayforce from $80.00 to $90.00 and gave the stock an "outperform" rating in a research note on Wednesday. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $79.08.

Dayforce Trading Down 2.3 %

Dayforce stock traded down $1.79 during midday trading on Wednesday, hitting $77.17. 2,204,792 shares of the stock were exchanged, compared to its average volume of 1,612,690. Dayforce has a fifty-two week low of $47.08 and a fifty-two week high of $81.32. The stock has a market capitalization of $12.17 billion, a price-to-earnings ratio of 233.86, a PEG ratio of 3.71 and a beta of 1.27. The stock's 50-day simple moving average is $64.14 and its 200 day simple moving average is $57.82. 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

In other news, insider Jeffrey Scott Jacobs sold 643 shares of the firm's stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $63.37, for a total value of $40,746.91. Following the completion of the transaction, the insider now owns 34,074 shares of the company's stock, valued at approximately $2,159,269.38. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, COO Stephen H. Holdridge sold 1,000 shares of the firm's stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $63.37, for a total value of $63,370.00. Following the sale, the chief operating officer now owns 101,437 shares of the company's stock, valued at $6,428,062.69. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jeffrey Scott Jacobs sold 643 shares of the firm's stock in a transaction that occurred 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 sale, the insider now directly owns 34,074 shares in the company, valued at approximately $2,159,269.38. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,643 shares of company stock valued at $384,617. 4.90% of the stock is currently owned by company insiders.

Institutional Trading of Dayforce

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DAY. Select Equity Group L.P. acquired a new stake in Dayforce during the second quarter worth approximately $721,310,000. EdgePoint Investment Group Inc. acquired a new stake in Dayforce during the second quarter worth approximately $521,396,000. Dragoneer Investment Group LLC acquired a new stake in Dayforce during the second quarter worth approximately $193,274,000. Dimensional Fund Advisors LP acquired a new stake in Dayforce during the second quarter worth approximately $51,027,000. Finally, Cannae Holdings Inc. acquired a new stake in Dayforce during the second quarter worth approximately $49,600,000.

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.