BMO Capital Markets Increases Dayforce (NYSE:DAY) Price Target to $80.00

Dayforce (NYSE:DAY - Free Report) had its price target raised by BMO Capital Markets from $70.00 to $80.00 in a research note published on Friday, MarketBeat Ratings reports. BMO Capital Markets currently has an outperform rating on the stock.

Other equities research analysts have also recently issued research reports about the company. Jefferies Financial Group increased their price target on Dayforce from $55.00 to $65.00 and gave the company a "hold" rating in a report on Tuesday, October 22nd. Mizuho raised their target price on Dayforce from $80.00 to $85.00 and gave the stock an "outperform" rating in a research note on Thursday. Needham & Company LLC reissued a "buy" rating and set a $82.00 price target on shares of Dayforce in a research report on Thursday. Piper Sandler raised their price objective on shares of Dayforce from $71.00 to $82.00 and gave the stock an "overweight" rating in a research report on Thursday. Finally, TD Cowen lifted their target price on shares of Dayforce from $58.00 to $62.00 and gave the stock a "hold" rating in a research note on Monday, October 7th. Five analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $72.67.

Dayforce Price Performance

Shares of Dayforce stock traded up $4.28 during trading hours on Friday, reaching $75.23. 2,840,132 shares of the company's stock were exchanged, compared to its average volume of 1,592,277. The business has a fifty day moving average of $60.74 and a two-hundred day moving average of $56.80. The company has a market capitalization of $11.89 billion, a P/E ratio of 215.01, a price-to-earnings-growth ratio of 2.52 and a beta of 1.29. The company has a quick ratio of 1.11, a current ratio of 1.15 and a debt-to-equity ratio of 0.47. Dayforce has a 1 year low of $47.08 and a 1 year high of $75.41.

Dayforce (NYSE:DAY - Get Free Report) last released its quarterly earnings data on Wednesday, July 31st. The company reported $0.23 EPS for the quarter, beating analysts' consensus estimates of $0.18 by $0.05. Dayforce had a net margin of 3.12% and a return on equity of 6.69%. The company had revenue of $423.30 million during the quarter, compared to the consensus estimate of $417.41 million. As a group, research analysts predict that Dayforce will post 1.07 earnings per share for the current fiscal year.

Insider Activity at Dayforce

In related news, COO Stephen H. Holdridge sold 2,000 shares of the business's stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $69.25, for a total value of $138,500.00. Following the sale, the chief operating officer now owns 98,437 shares in the company, valued at approximately $6,816,762.25. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, COO Stephen H. Holdridge sold 2,000 shares of the firm's stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $69.25, for a total value of $138,500.00. Following the completion of the transaction, the chief operating officer now owns 98,437 shares of the company's stock, valued at approximately $6,816,762.25. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Stephen H. Holdridge sold 1,000 shares of Dayforce stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $63.37, for a total transaction of $63,370.00. Following the completion of the transaction, the chief operating officer now owns 101,437 shares of the company's stock, valued at $6,428,062.69. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,643 shares of company stock worth $307,617. Insiders own 4.90% of the company's stock.

Institutional Trading of Dayforce

Large investors have recently modified their holdings of the stock. Select Equity Group L.P. acquired a new position in Dayforce during the 2nd quarter worth $721,310,000. Elo Mutual Pension Insurance Co purchased a new position in shares of Dayforce in the 2nd quarter valued at about $673,000. State of New Jersey Common Pension Fund D acquired a new position in shares of Dayforce during the second quarter worth about $2,760,000. Vanguard Personalized Indexing Management LLC purchased a new stake in shares of Dayforce during the second quarter worth approximately $663,000. Finally, Royal London Asset Management Ltd. acquired a new stake in Dayforce in the second quarter valued at approximately $2,942,000.

About Dayforce

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.