Dayforce's (DAY) "Overweight" Rating Reiterated at Piper Sandler

Piper Sandler reissued their overweight rating on shares of Dayforce (NYSE:DAY - Free Report) in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $94.00 price objective on the stock, up from their previous price objective of $82.00.

Several other research analysts have also weighed in on DAY. Barclays boosted their price objective on shares of Dayforce from $63.00 to $70.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 31st. TD Cowen lifted their price target on Dayforce from $58.00 to $62.00 and gave the stock a "hold" rating in a report on Monday, October 7th. KeyCorp initiated coverage on Dayforce in a research note on Tuesday, September 24th. They issued an "overweight" rating and a $70.00 price objective on the stock. Mizuho lifted their target price on Dayforce from $85.00 to $95.00 and gave the stock an "outperform" rating in a research note on Wednesday. Finally, Needham & Company LLC boosted their target price on Dayforce from $82.00 to $95.00 and gave the stock a "buy" rating in a report on Wednesday. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Dayforce presently has an average rating of "Moderate Buy" and a consensus price target of $79.08.

Dayforce Stock Down 2.3 %

Shares of NYSE:DAY traded down $1.79 during midday trading on Wednesday, hitting $77.17. The stock had a trading volume of 2,204,792 shares, compared to its average volume of 1,612,690. The company has a market cap of $12.17 billion, a P/E ratio of 234.43, a PEG ratio of 3.71 and a beta of 1.27. Dayforce has a 12 month low of $47.08 and a 12 month high of $81.32. The business's 50-day simple moving average is $64.14 and its 200-day simple moving average is $57.82. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.47.

Insider Activity at Dayforce

In other Dayforce news, COO Stephen H. Holdridge sold 1,000 shares of Dayforce stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $77.00, for a total value of $77,000.00. Following the completion of the sale, the chief operating officer now owns 122,022 shares in the company, valued at $9,395,694. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Dayforce news, COO Stephen H. Holdridge sold 1,000 shares of Dayforce stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $77.00, for a total value of $77,000.00. Following the completion of the transaction, the chief operating officer now directly owns 122,022 shares of the company's stock, valued at $9,395,694. The trade was a 0.00 % 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 company's stock in a transaction 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 sale, the insider now owns 34,074 shares of the company's stock, valued at approximately $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. Over the last three months, insiders have sold 5,643 shares of company stock worth $384,617. Corporate insiders own 4.90% of the company's stock.

Institutional Investors Weigh In On Dayforce

Large investors have recently bought and sold shares of the company. Quantbot Technologies LP boosted its holdings in shares of Dayforce by 204.7% in the 3rd quarter. Quantbot Technologies LP now owns 7,870 shares of the company's stock valued at $482,000 after purchasing an additional 5,287 shares in the last quarter. Daiwa Securities Group Inc. raised its holdings in shares of Dayforce by 9.3% during the 3rd quarter. Daiwa Securities Group Inc. now owns 27,574 shares of the company's stock worth $1,689,000 after buying an additional 2,344 shares in the last quarter. Swedbank AB bought a new stake in shares of Dayforce during the 3rd quarter worth $5,292,000. Cerity Partners LLC boosted its stake in Dayforce by 39.7% in the third quarter. Cerity Partners LLC now owns 28,110 shares of the company's stock valued at $1,722,000 after buying an additional 7,992 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Dayforce by 0.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,395,044 shares of the company's stock valued at $85,446,000 after purchasing an additional 8,506 shares in the last quarter.

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.