Deutsche Bank Aktiengesellschaft Reaffirms Hold Rating for Dayforce (NYSE:DAY)

Dayforce (NYSE:DAY - Get Free Report)'s stock had its "hold" rating reiterated by stock analysts at Deutsche Bank Aktiengesellschaft in a report released on Wednesday, Marketbeat reports. They presently have a $80.00 price objective on the stock, down from their previous price objective of $85.00. Deutsche Bank Aktiengesellschaft's price target suggests a potential upside of 14.40% from the company's current price.

A number of other research analysts also recently commented on the stock. Citigroup increased their price target on shares of Dayforce from $75.00 to $81.00 and gave the company a "buy" rating in a report on Thursday, October 31st. Barclays raised their price objective on Dayforce from $80.00 to $84.00 and gave the company an "equal weight" rating in a research note on Friday, December 6th. Scotiabank assumed coverage on Dayforce in a research report on Monday, November 18th. They set a "sector perform" rating and a $75.00 target price on the stock. KeyCorp raised their price target on Dayforce from $80.00 to $92.00 and gave the stock an "overweight" rating in a research report on Wednesday, November 13th. Finally, TD Cowen boosted their price objective on shares of Dayforce from $58.00 to $62.00 and gave the company a "hold" rating in a research report on Monday, October 7th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Dayforce currently has an average rating of "Moderate Buy" and an average target price of $80.21.

Dayforce Price Performance

Dayforce stock traded down $1.30 during mid-day trading on Wednesday, reaching $69.93. 1,701,480 shares of the company's stock traded hands, compared to its average volume of 1,224,376. Dayforce has a 12-month low of $47.08 and a 12-month high of $82.69. 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 stock has a 50 day moving average of $76.52 and a two-hundred day moving average of $63.66. The company has a market cap of $11.03 billion, a price-to-earnings ratio of 211.92, a PEG ratio of 3.68 and a beta of 1.26.

Insider Activity

In related news, COO Stephen H. Holdridge sold 1,000 shares of the company'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 completion of the sale, the chief operating officer now directly owns 101,437 shares of the company's stock, valued at $6,428,062.69. This represents a 0.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jeffrey Scott Jacobs sold 643 shares of the 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 owns 34,074 shares in the company, valued at approximately $2,159,269.38. The trade was a 1.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 865,340 shares of company stock valued at $68,770,223. Corporate insiders own 4.90% of the company's stock.

Institutional Trading of Dayforce

A number of hedge funds have recently bought and sold shares of the stock. Select Equity Group L.P. purchased a new position in shares of Dayforce in the 2nd quarter valued at $721,310,000. Principal Financial Group Inc. purchased a new position in Dayforce in the third quarter valued at about $11,135,000. KBC Group NV bought a new position in Dayforce in the third quarter worth about $946,000. Adero Partners LLC purchased a new stake in shares of Dayforce during the third quarter valued at about $4,987,000. Finally, Sumitomo Mitsui Trust Group Inc. bought a new stake in shares of Dayforce in the 3rd quarter valued at about $19,273,000.

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.