Dayforce (NYSE:DAY) Price Target Raised to $85.00 at Mizuho

Dayforce (NYSE:DAY) had its price target boosted by Mizuho from $80.00 to $85.00 in a research report released on Thursday morning, Benzinga reports. Mizuho currently has an outperform rating on the stock.

DAY has been the subject of several other reports. Barclays upped their target price on shares of Dayforce from $63.00 to $70.00 and gave the company an “equal weight” rating in a research note on Thursday. TD Cowen upped their target price on shares of Dayforce from $58.00 to $62.00 and gave the stock a “hold” rating in a report on Monday, October 7th. Needham & Company LLC reissued a “buy” rating and set a $82.00 price objective on shares of Dayforce in a report on Thursday. Jefferies Financial Group increased their price objective on shares of Dayforce from $55.00 to $65.00 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. Finally, Piper Sandler upped their target price on shares of Dayforce from $71.00 to $82.00 and gave the company an “overweight” rating in a research report on Thursday. Five research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $72.67.

Dayforce Stock Performance

Shares of DAY opened at $70.95 on Thursday. Dayforce has a one year low of $47.08 and a one year high of $74.66. The company has a 50-day moving average of $60.74 and a two-hundred day moving average of $56.80. The stock has a market cap of $11.22 billion, a price-to-earnings ratio of 215.01, a PEG ratio of 2.52 and a beta of 1.29. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.15 and a quick ratio of 1.11.

Dayforce (NYSE:DAY) last posted its earnings results on Wednesday, July 31st. The company reported $0.23 earnings per share (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 firm had revenue of $423.30 million during the quarter, compared to analysts’ expectations of $417.41 million. On average, equities research analysts expect that Dayforce will post 1.07 earnings per share for the current year.

Insider Buying and Selling

In related news, COO Stephen H. Holdridge sold 2,000 shares of the stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $69.25, for a total transaction of $138,500.00. Following the completion of the sale, the chief operating officer now directly owns 98,437 shares of the company’s stock, valued at approximately $6,816,762.25. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, COO Stephen H. Holdridge sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $65.00, for a total transaction of $65,000.00. Following the completion of the transaction, the chief operating officer now directly owns 100,437 shares of the company’s stock, valued at $6,528,405. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Stephen H. Holdridge sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $69.25, for a total transaction of $138,500.00. Following the transaction, the chief operating officer now directly owns 98,437 shares of the company’s stock, valued at $6,816,762.25. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 4,643 shares of company stock valued at $307,617. 4.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Dayforce

Hedge funds and other institutional investors have recently made changes to their positions in the company. Select Equity Group L.P. bought a new position in shares of Dayforce in the second quarter valued at $721,310,000. Elo Mutual Pension Insurance Co acquired a new stake in Dayforce during the 2nd quarter valued at $673,000. State of New Jersey Common Pension Fund D acquired a new stake in Dayforce during the 2nd quarter valued at $2,760,000. Vanguard Personalized Indexing Management LLC acquired a new stake in Dayforce during the 2nd quarter valued at $663,000. Finally, Royal London Asset Management Ltd. acquired a new stake in Dayforce during the 2nd quarter valued at $2,942,000.

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.