Dayforce's (DAY) Buy Rating Reaffirmed at Needham & Company LLC

Dayforce (NYSE:DAY - Get Free Report)'s stock had its "buy" rating restated by Needham & Company LLC in a note issued to investors on Thursday,Benzinga reports. They presently have a $95.00 target price on the stock. Needham & Company LLC's target price suggests a potential upside of 44.67% from the company's previous close.

Other research analysts have also issued research reports about the stock. Mizuho increased their price target 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. Scotiabank initiated coverage on Dayforce in a research note on Monday, November 18th. They issued a "sector perform" rating and a $75.00 price target on the stock. Piper Sandler reissued an "overweight" rating and set a $83.00 price objective (down from $94.00) on shares of Dayforce in a report on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $80.00 target price (down previously from $85.00) on shares of Dayforce in a research note on Wednesday, January 8th. Finally, Jefferies Financial Group lifted their price target on shares of Dayforce from $55.00 to $65.00 and gave the company a "hold" rating in a report on Tuesday, October 22nd. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Dayforce presently has a consensus rating of "Moderate Buy" and a consensus target price of $78.64.

Dayforce Stock Performance

DAY traded up $0.64 on Thursday, hitting $65.67. 846,621 shares of the stock traded hands, compared to its average volume of 1,717,000. The business has a fifty day moving average price of $73.05 and a two-hundred day moving average price of $66.66. The company has a current ratio of 1.13, a quick ratio of 1.15 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $10.36 billion, a PE ratio of 597.04, a P/E/G ratio of 2.41 and a beta of 1.26. Dayforce has a 52 week low of $47.08 and a 52 week high of $82.69.

Dayforce (NYSE:DAY - Get Free Report) last issued its earnings results on Wednesday, February 5th. The company reported $0.37 EPS 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%. On average, research analysts predict that Dayforce will post 1.41 EPS for the current fiscal year.

Insider Activity at Dayforce

In other news, CEO David D. Ossip sold 858,697 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $79.55, for a total value of $68,309,346.35. Following the transaction, the chief executive officer now owns 794,527 shares of the company's stock, valued at $63,204,622.85. This represents a 51.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Stephen H. Holdridge sold 1,000 shares of Dayforce stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $71.33, for a total value of $71,330.00. Following the sale, the chief operating officer now directly owns 119,022 shares of the company's stock, valued at approximately $8,489,839.26. This trade represents a 0.83 % 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 worth $68,456,936 over the last 90 days. Insiders own 4.90% of the company's stock.

Hedge Funds Weigh In On Dayforce

Several hedge funds have recently added to or reduced their stakes in DAY. Creative Planning acquired a new stake in Dayforce during the 2nd quarter worth $276,000. SG Americas Securities LLC bought a new position in shares of Dayforce during the 3rd quarter valued at about $442,000. Handelsbanken Fonder AB grew its position in shares of Dayforce by 23.5% in the 3rd quarter. Handelsbanken Fonder AB now owns 37,800 shares of the company's stock valued at $2,315,000 after purchasing an additional 7,200 shares during the period. Czech National Bank acquired a new position in shares of Dayforce in the 3rd quarter valued at approximately $1,973,000. Finally, GAMMA Investing LLC bought a new stake in Dayforce during the 3rd quarter worth approximately $118,000.

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.