Dayforce’s (DAY) “Buy” Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Dayforce (NYSE:DAY) in a research note released on Thursday morning,Benzinga reports. The brokerage currently has a $95.00 price objective on the stock.

Other research analysts have also recently issued research reports about the stock. Mizuho boosted their price target on shares of Dayforce from $85.00 to $95.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Barclays reduced their price objective on shares of Dayforce from $80.00 to $69.00 and set an “equal weight” rating for the company in a research report on Thursday. KeyCorp raised their price target on Dayforce from $80.00 to $92.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $80.00 price objective (down from $85.00) on shares of Dayforce in a research report on Wednesday, January 8th. Finally, Jefferies Financial Group raised their price target on Dayforce from $55.00 to $65.00 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, Dayforce presently has a consensus rating of “Moderate Buy” and an average target price of $78.64.

Dayforce Trading Down 0.6 %

DAY opened at $65.59 on Thursday. The business has a fifty day simple moving average of $73.63 and a 200-day simple moving average of $66.39. Dayforce has a 52 week low of $47.08 and a 52 week high of $82.69. The firm has a market cap of $10.34 billion, a P/E ratio of 198.78, a P/E/G ratio of 2.59 and a beta of 1.26. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.47.

Dayforce (NYSE:DAY) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.09). Dayforce had a net margin of 3.12% and a return on equity of 6.69%. On average, equities analysts expect that Dayforce will post 1.07 earnings per share for the current year.

Insiders Place Their Bets

In other Dayforce news, COO Stephen H. Holdridge sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $71.33, for a total value of $71,330.00. Following the sale, the chief operating officer now directly owns 119,022 shares of the company’s stock, valued at approximately $8,489,839.26. This trade represents a 0.83 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO David D. Ossip sold 858,697 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 794,527 shares of the company’s stock, valued at approximately $63,204,622.85. This represents a 51.94 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 860,697 shares of company stock valued at $68,456,936. Company insiders own 4.90% of the company’s stock.

Hedge Funds Weigh In On Dayforce

A number of hedge funds have recently made changes to their positions in the business. New York State Common Retirement Fund purchased a new stake in Dayforce during the 3rd quarter worth $20,942,000. Sumitomo Mitsui Trust Group Inc. acquired a new position in shares of Dayforce in the 3rd quarter valued at about $19,273,000. Principal Financial Group Inc. acquired a new position in shares of Dayforce in the 3rd quarter valued at about $11,135,000. EdgePoint Investment Group Inc. lifted its position in Dayforce by 1.1% in the 3rd quarter. EdgePoint Investment Group Inc. now owns 10,624,105 shares of the company’s stock valued at $650,726,000 after purchasing an additional 112,086 shares during the last quarter. Finally, New York State Teachers Retirement System bought a new stake in Dayforce in the 3rd quarter valued at about $6,639,000.

About Dayforce

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.