Dayforce (NYSE:DAY) Given New $75.00 Price Target at Jefferies Financial Group

Dayforce (NYSE:DAY - Free Report) had its target price decreased by Jefferies Financial Group from $80.00 to $75.00 in a research note published on Thursday morning,Benzinga reports. Jefferies Financial Group currently has a hold rating on the stock.

A number of other research firms have also commented on DAY. Barclays lowered their price objective on Dayforce from $80.00 to $69.00 and set an "equal weight" rating on the stock in a research note on Thursday. Piper Sandler restated an "overweight" rating and issued a $83.00 price target (down previously from $94.00) on shares of Dayforce in a research report on Wednesday, February 5th. Mizuho upped their price objective on shares of Dayforce from $85.00 to $95.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 13th. BMO Capital Markets raised their target price on shares of Dayforce from $80.00 to $90.00 and gave the company an "outperform" rating in a report on Wednesday, November 13th. Finally, KeyCorp upped their price target on shares of Dayforce from $80.00 to $92.00 and gave the stock an "overweight" rating in a report on Wednesday, November 13th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, Dayforce presently has a consensus rating of "Moderate Buy" and an average target price of $78.64.

Dayforce Stock Performance

Shares of NYSE DAY traded up $0.64 during trading hours on Thursday, reaching $65.67. 846,621 shares of the stock were exchanged, compared to its average volume of 1,717,000. The firm has a market capitalization of $10.36 billion, a price-to-earnings ratio of 597.04, a P/E/G ratio of 2.41 and a beta of 1.26. The stock's fifty day simple moving average is $73.05 and its 200 day simple moving average is $66.66. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.15 and a current ratio of 1.13. Dayforce has a 52 week low of $47.08 and a 52 week high of $82.69.

Dayforce (NYSE:DAY - Get Free Report) last posted its earnings results on Wednesday, February 5th. The company reported $0.37 earnings per share for the quarter, missing analysts' consensus estimates of $0.46 by ($0.09). Dayforce had a return on equity of 6.49% and a net margin of 1.03%. Sell-side analysts predict that Dayforce will post 1.41 EPS for the current year.

Insider Activity at Dayforce

In other news, COO Stephen H. Holdridge sold 1,000 shares of Dayforce stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $71.33, for a total transaction of $71,330.00. Following the transaction, the chief operating officer now owns 119,022 shares in the company, valued at approximately $8,489,839.26. The trade was a 0.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David D. Ossip sold 858,697 shares of the stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $79.55, for a total value of $68,309,346.35. Following the completion of the sale, the chief executive officer now owns 794,527 shares of the company's stock, valued at $63,204,622.85. The trade was a 51.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 860,697 shares of company stock valued at $68,456,936 in the last 90 days. 4.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Farther Finance Advisors LLC acquired a new stake in shares of Dayforce during the third quarter worth $40,000. Quarry LP bought a new stake in Dayforce during the third quarter valued at $51,000. AlphaQuest LLC grew its holdings in Dayforce by 14,800.0% during the 4th quarter. AlphaQuest LLC now owns 1,043 shares of the company's stock worth $76,000 after acquiring an additional 1,036 shares during the period. Livforsakringsbolaget Skandia Omsesidigt bought a new position in shares of Dayforce in the 3rd quarter worth about $74,000. Finally, Smartleaf Asset Management LLC lifted its stake in shares of Dayforce by 69.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,227 shares of the company's stock valued at $89,000 after purchasing an additional 501 shares during the period.

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.