KeyCorp Has Lowered Expectations for Dayforce (NYSE:DAY) Stock Price

Dayforce (NYSE:DAY - Get Free Report) had its target price decreased by research analysts at KeyCorp from $80.00 to $65.00 in a report issued on Tuesday,Benzinga reports. The firm presently has an "overweight" rating on the stock. KeyCorp's price objective indicates a potential upside of 14.12% from the company's current price.

Other research analysts have also issued reports about the stock. Cowen raised shares of Dayforce from a "hold" rating to a "buy" rating in a report on Friday, March 7th. TD Cowen raised shares of Dayforce from a "hold" rating to a "buy" rating and raised their target price for the stock from $67.00 to $68.00 in a report on Friday, March 7th. Wells Fargo & Company lowered their target price on Dayforce from $70.00 to $60.00 and set an "equal weight" rating for the company in a report on Tuesday. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $80.00 price target (down previously from $85.00) on shares of Dayforce in a report on Wednesday, January 8th. Finally, Needham & Company LLC restated a "buy" rating and set a $95.00 price objective on shares of Dayforce in a research note on Thursday, February 6th. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat, Dayforce currently has a consensus rating of "Moderate Buy" and a consensus price target of $74.86.

Dayforce Stock Down 0.5 %

Dayforce stock traded down $0.31 during midday trading on Tuesday, hitting $56.96. The stock had a trading volume of 208,147 shares, compared to its average volume of 1,748,662. The business has a fifty day moving average price of $57.39 and a 200 day moving average price of $67.05. Dayforce has a 12 month low of $47.08 and a 12 month high of $82.69. The stock has a market cap of $9.01 billion, a P/E ratio of 519.32, a P/E/G ratio of 2.49 and a beta of 1.20. The company has a current ratio of 1.13, a quick ratio of 1.15 and a debt-to-equity ratio of 0.47.

Dayforce (NYSE:DAY - Get Free Report) last issued its quarterly 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 net margin of 1.03% and a return on equity of 6.49%. Research analysts predict that Dayforce will post 1.48 EPS for the current year.

Insider Transactions at Dayforce

In other news, EVP William Everett Mcdonald sold 2,000 shares of Dayforce stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $56.16, for a total transaction of $112,320.00. Following the transaction, the executive vice president now directly owns 105,691 shares in the company, valued at approximately $5,935,606.56. This trade represents a 1.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 4.50% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Harvest Fund Management Co. Ltd bought a new position in shares of Dayforce during the 4th quarter valued at about $61,000. Federated Hermes Inc. acquired a new stake in Dayforce during the fourth quarter valued at approximately $72,000. AlphaQuest LLC boosted its holdings in Dayforce by 14,800.0% during the fourth quarter. AlphaQuest LLC now owns 1,043 shares of the company's stock worth $76,000 after buying an additional 1,036 shares in the last quarter. Smartleaf Asset Management LLC grew its position in Dayforce by 69.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,227 shares of the company's stock worth $89,000 after buying an additional 501 shares during the last quarter. Finally, Mufg Securities Americas Inc. bought a new position in shares of Dayforce in the fourth quarter valued at $169,000.

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.