Dayforce (NYSE:DAY) Receives "Overweight" Rating from Piper Sandler

Piper Sandler reaffirmed their overweight rating on shares of Dayforce (NYSE:DAY - Free Report) in a research report report published on Wednesday,Benzinga reports. They currently have a $83.00 target price on the stock, down from their previous target price of $94.00.

Several other brokerages also recently issued reports on DAY. Mizuho upped their price objective on Dayforce from $85.00 to $95.00 and gave the company an "outperform" rating in a research report on Wednesday, November 13th. BMO Capital Markets upped their price objective on shares of Dayforce from $80.00 to $90.00 and gave the company an "outperform" rating in a research note on Wednesday, November 13th. Barclays cut their price objective on shares of Dayforce from $84.00 to $80.00 and set an "equal weight" rating on the stock in a report on Friday, January 10th. Citigroup lowered their target price on shares of Dayforce from $90.00 to $83.00 and set a "buy" rating for the company in a report on Thursday, January 16th. Finally, 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. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $78.64.

Dayforce Stock Down 1.0 %

NYSE:DAY traded down $0.66 during midday trading on Wednesday, hitting $65.02. 1,522,820 shares of the company were exchanged, compared to its average volume of 1,812,263. The company has a fifty day simple moving average of $73.05 and a 200 day simple moving average of $66.55. The company has a market capitalization of $10.25 billion, a PE ratio of 591.10, a price-to-earnings-growth ratio of 2.41 and a beta of 1.26. Dayforce has a fifty-two week low of $47.08 and a fifty-two week high of $82.69. 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 posted its quarterly earnings results on Wednesday, February 5th. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.09). Dayforce had a return on equity of 6.49% and a net margin of 1.03%. As a group, equities analysts anticipate that Dayforce will post 1.41 earnings per share for the current fiscal year.

Insider Activity

In other Dayforce news, CEO David D. Ossip sold 858,697 shares of the company's stock in a transaction dated 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 transaction, the chief executive officer now directly 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 filing with the SEC, which is available at the SEC website. Also, COO Stephen H. Holdridge sold 1,000 shares of the firm's stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $71.33, for a total value of $71,330.00. Following the sale, the chief operating officer now owns 119,022 shares of the company's stock, valued at $8,489,839.26. This represents a 0.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 860,697 shares of company stock worth $68,456,936. 4.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. EdgePoint Investment Group Inc. raised its position in shares of Dayforce by 1.1% in the 3rd quarter. EdgePoint Investment Group Inc. now owns 10,624,105 shares of the company's stock valued at $650,726,000 after purchasing an additional 112,086 shares in the last quarter. Janus Henderson Group PLC increased its stake in shares of Dayforce by 1.9% in the third quarter. Janus Henderson Group PLC now owns 5,669,154 shares of the company's stock worth $347,236,000 after buying an additional 103,794 shares during the last quarter. Geode Capital Management LLC raised its holdings in Dayforce by 0.8% in the third quarter. Geode Capital Management LLC now owns 3,782,024 shares of the company's stock valued at $230,875,000 after acquiring an additional 30,302 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Dayforce by 0.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,399,628 shares of the company's stock valued at $101,669,000 after acquiring an additional 4,584 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Dayforce by 3.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 980,692 shares of the company's stock worth $60,067,000 after acquiring an additional 34,731 shares in the last quarter.

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.