Dayforce (NYSE:DAY) Given New $83.00 Price Target at Citigroup

Dayforce (NYSE:DAY) had its target price trimmed by Citigroup from $90.00 to $83.00 in a research report released on Thursday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other research analysts have also weighed in on DAY. Mizuho upped their target price on shares of Dayforce from $85.00 to $95.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Stifel Nicolaus lifted their price objective on Dayforce from $82.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $80.00 target price (down previously from $85.00) on shares of Dayforce in a report on Wednesday, January 8th. Piper Sandler reaffirmed an “overweight” rating and set a $94.00 price target (up previously from $82.00) on shares of Dayforce in a research note on Wednesday, November 13th. Finally, TD Cowen increased their price objective on shares of Dayforce from $58.00 to $62.00 and gave the company a “hold” rating in a research note on Monday, October 7th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Dayforce has a consensus rating of “Moderate Buy” and an average price target of $80.07.

Dayforce Price Performance

Shares of NYSE DAY opened at $70.17 on Thursday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.15 and a current ratio of 1.15. Dayforce has a one year low of $47.08 and a one year high of $82.69. The firm has a market capitalization of $11.07 billion, a P/E ratio of 212.63, a PEG ratio of 2.61 and a beta of 1.26. The company’s fifty day moving average is $75.75 and its two-hundred day moving average is $64.46.

Insider Buying and Selling

In related news, COO Stephen H. Holdridge sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $69.25, for a total transaction of $138,500.00. Following the completion of the transaction, the chief operating officer now owns 98,437 shares of the company’s stock, valued at approximately $6,816,762.25. This represents a 1.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO David D. Ossip sold 858,697 shares of Dayforce stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $79.55, for a total transaction of $68,309,346.35. Following the completion of the transaction, the chief executive officer now owns 794,527 shares in the company, valued at approximately $63,204,622.85. This trade represents a 51.94 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 862,697 shares of company stock worth $68,601,106. 4.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Dayforce

A number of large investors have recently modified their holdings of the company. Select Equity Group L.P. purchased a new position in Dayforce in the second quarter valued at approximately $721,310,000. EdgePoint Investment Group Inc. increased its position in shares of Dayforce by 1.1% in the third quarter. EdgePoint Investment Group Inc. now owns 10,624,105 shares of the company’s stock worth $650,726,000 after acquiring an additional 112,086 shares in the last quarter. Janus Henderson Group PLC raised its stake in shares of Dayforce by 1.9% in 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 during the period. Dragoneer Investment Group LLC acquired a new position in shares of Dayforce during the 2nd quarter valued at $193,274,000. Finally, Geode Capital Management LLC boosted its position in Dayforce by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 3,782,024 shares of the company’s stock worth $230,875,000 after purchasing an additional 30,302 shares during the period.

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.