Dayforce (NYSE:DAY) Upgraded by TD Cowen to Buy Rating

TD Cowen upgraded shares of Dayforce (NYSE:DAY - Free Report) from a hold rating to a buy rating in a report released on Friday morning, Marketbeat reports. TD Cowen currently has $68.00 target price on the stock, up from their previous target price of $67.00.

A number of other brokerages also recently commented on DAY. KeyCorp boosted their price objective on shares of Dayforce from $80.00 to $92.00 and gave the company an "overweight" rating in a research report on Wednesday, November 13th. Citigroup lowered their price target 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. Jefferies Financial Group cut their price objective on Dayforce from $80.00 to $75.00 and set a "hold" rating for the company in a report on Thursday, February 6th. Needham & Company LLC restated a "buy" rating and issued a $95.00 target price on shares of Dayforce in a research note on Thursday, February 6th. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $83.00 price target (down from $94.00) on shares of Dayforce in a research note on Wednesday, February 5th. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, Dayforce has an average rating of "Moderate Buy" and a consensus target price of $79.07.

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Dayforce Stock Down 1.8 %

Shares of DAY traded down $0.99 during mid-day trading on Friday, reaching $53.73. The company's stock had a trading volume of 2,799,202 shares, compared to its average volume of 1,884,996. The company has a market cap of $8.54 billion, a price-to-earnings ratio of 488.45, a price-to-earnings-growth ratio of 2.49 and a beta of 1.33. The business has a fifty day moving average of $67.18 and a 200 day moving average of $67.94. The company has a quick ratio of 1.15, a current ratio of 1.13 and a debt-to-equity ratio of 0.47. Dayforce has a 1 year low of $47.08 and a 1 year high of $82.69.

Dayforce (NYSE:DAY - Get Free Report) last announced its quarterly earnings data 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, analysts forecast that Dayforce will post 1.48 earnings per share for the current fiscal year.

Insider Buying and Selling at Dayforce

In other news, COO Stephen H. Holdridge sold 1,000 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the chief operating officer now directly owns 119,022 shares in the company, valued at $8,489,839.26. The trade was a 0.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 4.90% of the company's stock.

Hedge Funds Weigh In On Dayforce

A number of institutional investors and hedge funds have recently bought and sold shares of DAY. US Bancorp DE boosted its holdings in Dayforce by 66.3% in the 3rd quarter. US Bancorp DE now owns 2,363 shares of the company's stock valued at $145,000 after purchasing an additional 942 shares during the period. Farther Finance Advisors LLC bought a new stake in shares of Dayforce in the third quarter valued at about $40,000. Harbor Capital Advisors Inc. bought a new stake in shares of Dayforce in the third quarter valued at about $192,000. Robeco Institutional Asset Management B.V. acquired a new stake in Dayforce during the third quarter worth about $1,597,000. Finally, Asset Management One Co. Ltd. bought a new position in Dayforce during the third quarter valued at about $3,792,000.

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.