BMO Capital Markets Issues Positive Forecast for Dayforce (NYSE:DAY) Stock Price

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

A number of other brokerages have also recently issued reports on DAY. Jefferies Financial Group increased their price objective on shares of Dayforce from $55.00 to $65.00 and gave the company a “hold” rating in a research note on Tuesday, October 22nd. Citigroup raised their price target on shares of Dayforce from $75.00 to $81.00 and gave the stock a “buy” rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft upped their price objective on Dayforce from $70.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Mizuho increased their target price on Dayforce from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, Barclays boosted their price target on Dayforce from $63.00 to $70.00 and gave the company an “equal weight” rating in a research note on Thursday. Five investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Dayforce has a consensus rating of “Moderate Buy” and a consensus target price of $72.67.

Dayforce Stock Performance

DAY stock traded up $4.28 during trading on Friday, reaching $75.23. 2,843,422 shares of the stock were exchanged, compared to its average volume of 1,592,277. Dayforce has a twelve month low of $47.08 and a twelve month high of $75.41. The company has a current ratio of 1.15, a quick ratio of 1.11 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $11.86 billion, a P/E ratio of 227.97, a price-to-earnings-growth ratio of 2.52 and a beta of 1.27. The stock has a 50 day simple moving average of $61.11 and a 200-day simple moving average of $56.91.

Dayforce (NYSE:DAY) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.05. The company had revenue of $423.30 million for the quarter, compared to analyst estimates of $417.41 million. Dayforce had a return on equity of 6.69% and a net margin of 3.12%. As a group, sell-side analysts anticipate that Dayforce will post 1.07 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Jeffrey Scott Jacobs sold 643 shares of the business’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $63.37, for a total transaction of $40,746.91. Following the completion of the sale, the insider now owns 34,074 shares in the company, valued at $2,159,269.38. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Jeffrey Scott Jacobs sold 643 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $63.37, for a total value of $40,746.91. Following the transaction, the insider now owns 34,074 shares of the company’s stock, valued at approximately $2,159,269.38. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Stephen H. Holdridge sold 1,000 shares of the 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 in the company, valued at $6,428,062.69. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,643 shares of company stock valued at $307,617. 4.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Dayforce

A number of institutional investors have recently made changes to their positions in the stock. Select Equity Group L.P. acquired a new position in Dayforce in the second quarter valued at about $721,310,000. EdgePoint Investment Group Inc. acquired a new position in Dayforce during the second quarter valued at approximately $521,396,000. Dragoneer Investment Group LLC bought a new stake in Dayforce in the second quarter valued at approximately $193,274,000. Dimensional Fund Advisors LP bought a new position in shares of Dayforce during the second quarter worth $51,027,000. Finally, Cannae Holdings Inc. acquired a new position in shares of Dayforce in the 2nd quarter valued at $49,600,000.

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.