Dayforce (NYSE:DAY) Price Target Raised to $95.00

Dayforce (NYSE:DAY - Free Report) had its price target boosted by Mizuho from $85.00 to $95.00 in a report published on Wednesday morning,Benzinga reports. They currently have an outperform rating on the stock.

Several other research analysts also recently commented on DAY. Deutsche Bank Aktiengesellschaft lifted their price objective on Dayforce from $70.00 to $75.00 and gave the stock a "buy" rating in a report on Thursday, August 1st. Jefferies Financial Group increased their price target on shares of Dayforce from $55.00 to $65.00 and gave the stock a "hold" rating in a research note on Tuesday, October 22nd. Citigroup boosted their target price on Dayforce from $75.00 to $81.00 and gave the stock a "buy" rating in a report on Thursday, October 31st. Needham & Company LLC boosted their price objective on shares of Dayforce from $82.00 to $95.00 and gave the stock a "buy" rating in a report on Wednesday. Finally, TD Cowen raised their price target on shares of Dayforce from $58.00 to $62.00 and gave the company a "hold" rating in a report on Monday, October 7th. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $79.08.

Dayforce Price Performance

Shares of Dayforce stock traded down $1.79 during trading on Wednesday, hitting $77.17. The stock had a trading volume of 2,209,069 shares, compared to its average volume of 1,612,690. The business's 50-day moving average is $64.14 and its 200 day moving average is $57.82. Dayforce has a 12 month low of $47.08 and a 12 month high of $81.32. The firm has a market cap of $12.17 billion, a price-to-earnings ratio of 234.43, a P/E/G ratio of 3.71 and a beta of 1.27. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.47.

Insiders Place Their Bets

In other Dayforce news, insider Jeffrey Scott Jacobs sold 643 shares of the stock in a transaction dated 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 transaction, the insider now owns 34,074 shares of the company's stock, valued at $2,159,269.38. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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, November 5th. The stock was sold at an average price of $77.00, for a total transaction of $77,000.00. Following the completion of the sale, the chief operating officer now directly owns 122,022 shares of the company's stock, valued at approximately $9,395,694. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jeffrey Scott Jacobs sold 643 shares of Dayforce stock in a transaction on Tuesday, October 15th. The stock was 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. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,643 shares of company stock worth $384,617. Corporate insiders own 4.90% of the company's stock.

Hedge Funds Weigh In On Dayforce

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Quantbot Technologies LP grew its stake in Dayforce by 204.7% in the third 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 during the last quarter. Daiwa Securities Group Inc. increased its holdings in Dayforce by 9.3% in 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 during the period. Swedbank AB purchased a new position in shares of Dayforce during the third quarter worth $5,292,000. Cerity Partners LLC lifted its holdings in shares of Dayforce by 39.7% in the 3rd 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 during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Dayforce by 0.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,395,044 shares of the company's stock worth $85,446,000 after buying an additional 8,506 shares during 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.