Dayforce (NYSE:DAY - Free Report) had its target price cut by Scotiabank from $72.00 to $55.00 in a research report sent to investors on Monday morning,Benzinga reports. They currently have a sector perform rating on the stock.
DAY has been the subject of a number of other reports. Stifel Nicolaus lowered their target price on Dayforce from $90.00 to $85.00 and set a "buy" rating for the company in a research report on Thursday, February 6th. Citigroup reduced their target price on shares of Dayforce from $90.00 to $83.00 and set a "buy" rating on the stock in a report on Thursday, January 16th. Needham & Company LLC reaffirmed a "buy" rating and issued a $95.00 price target on shares of Dayforce in a report on Thursday, February 6th. Piper Sandler restated an "overweight" rating and set a $83.00 price objective (down from $94.00) on shares of Dayforce in a research report on Wednesday, February 5th. Finally, TD Cowen raised Dayforce from a "hold" rating to a "buy" rating and raised their price objective for the company from $67.00 to $68.00 in a research note on Friday, March 7th. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $77.86.
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Dayforce Price Performance
DAY traded up $0.76 during trading on Monday, hitting $58.40. 4,719,803 shares of the company traded hands, compared to its average volume of 1,681,051. 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 company has a market cap of $9.24 billion, a PE ratio of 530.94, a P/E/G ratio of 2.49 and a beta of 1.33. The stock's 50-day simple moving average is $64.59 and its two-hundred day simple moving average is $67.67. Dayforce has a 1 year low of $47.08 and a 1 year high of $82.69.
Dayforce (NYSE:DAY - Get Free Report) last issued its quarterly earnings data 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%. As a group, sell-side analysts anticipate that Dayforce will post 1.48 earnings per share for the current fiscal year.
Insider Activity at Dayforce
In other Dayforce news, COO Stephen H. Holdridge sold 1,000 shares of the firm's stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $71.33, for a total transaction of $71,330.00. Following the transaction, the chief operating officer now directly owns 119,022 shares in the company, valued at $8,489,839.26. This trade represents a 0.83 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 4.90% of the stock is currently owned by company insiders.
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. Capital International Investors grew its holdings in Dayforce by 3.9% during the 4th quarter. Capital International Investors now owns 17,659,706 shares of the company's stock worth $1,282,800,000 after acquiring an additional 667,065 shares in the last quarter. Vanguard Group Inc. increased its holdings in Dayforce by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 17,319,275 shares of the company's stock valued at $1,258,072,000 after buying an additional 197,773 shares during the period. Capital World Investors raised its stake in Dayforce by 1.0% in the fourth quarter. Capital World Investors now owns 13,654,333 shares of the company's stock worth $991,851,000 after buying an additional 128,578 shares in the last quarter. EdgePoint Investment Group Inc. lifted its holdings in Dayforce by 1.1% during the third quarter. EdgePoint Investment Group Inc. now owns 10,624,105 shares of the company's stock worth $650,726,000 after buying an additional 112,086 shares during the period. Finally, Janus Henderson Group PLC boosted its position in Dayforce by 1.9% during the 3rd quarter. Janus Henderson Group PLC now owns 5,669,154 shares of the company's stock valued at $347,236,000 after acquiring an additional 103,794 shares in the last quarter.
About Dayforce
(
Get Free Report)
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.
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