Dayforce’s (DAY) “Overweight” Rating Reiterated at Piper Sandler

Piper Sandler reissued their overweight rating on shares of Dayforce (NYSE:DAY) in a research note published on Wednesday morning,Benzinga reports. The firm currently has a $94.00 price target on the stock, up from their previous price target of $82.00.

A number of other equities research analysts have also commented on the stock. Needham & Company LLC increased their price objective on shares of Dayforce from $82.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday. Jefferies Financial Group raised their target price 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. Mizuho lifted their price objective on shares of Dayforce from $85.00 to $95.00 and gave the stock an “outperform” rating in a research note on Wednesday. KeyCorp started coverage on shares of Dayforce in a report on Tuesday, September 24th. They set an “overweight” rating and a $70.00 target price on the stock. Finally, TD Cowen raised 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. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Dayforce presently has a consensus rating of “Moderate Buy” and a consensus price target of $79.08.

Dayforce Trading Down 2.8 %

Shares of Dayforce stock opened at $74.56 on Wednesday. The stock has a market capitalization of $11.76 billion, a P/E ratio of 225.95, a price-to-earnings-growth ratio of 3.62 and a beta of 1.27. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.47. The company has a 50-day simple moving average of $65.04 and a 200 day simple moving average of $58.09. Dayforce has a 12-month low of $47.08 and a 12-month high of $81.32.

Insider Activity

In related news, insider Jeffrey Scott Jacobs sold 643 shares of the business’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $63.37, for a total transaction of $40,746.91. Following the transaction, the insider now directly owns 34,074 shares in the company, valued at approximately $2,159,269.38. The trade was a 1.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Stephen H. Holdridge sold 2,000 shares of Dayforce stock in a transaction 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 approximately $6,816,762.25. This trade represents a 1.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,643 shares of company stock worth $384,617 over the last ninety days. Insiders own 4.90% of the company’s stock.

Hedge Funds Weigh In On Dayforce

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Financial Perspectives Inc bought a new position in Dayforce during the second quarter worth $28,000. Quent Capital LLC bought a new position in Dayforce during the third quarter worth $28,000. Sentry Investment Management LLC bought a new position in Dayforce during the second quarter worth $33,000. Farther Finance Advisors LLC bought a new position in Dayforce during the third quarter worth $40,000. Finally, Quarry LP bought a new position in Dayforce during the third quarter worth $51,000.

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.