Mizuho Forecasts Strong Price Appreciation for Dayforce (NYSE:DAY) Stock

Dayforce (NYSE:DAY) had its price objective upped by Mizuho from $85.00 to $95.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Mizuho’s price target suggests a potential upside of 25.76% from the stock’s current price.

A number of other equities analysts also recently issued reports on the company. TD Cowen increased their price target on Dayforce from $58.00 to $62.00 and gave the stock a “hold” rating in a research report on Monday, October 7th. Citigroup increased their price target on Dayforce from $75.00 to $81.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft increased their price target on Dayforce from $70.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. KeyCorp assumed coverage on Dayforce in a research report on Tuesday, September 24th. They set an “overweight” rating and a $70.00 price target on the stock. Finally, Needham & Company LLC raised their price objective on Dayforce from $82.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday. Five equities 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, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $79.08.

Dayforce Trading Down 1.6 %

Dayforce stock traded down $1.20 during mid-day trading on Wednesday, hitting $75.54. The company’s stock had a trading volume of 174,633 shares, compared to its average volume of 1,605,054. Dayforce has a one year low of $47.08 and a one year high of $81.32. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.15 and a current ratio of 1.15. The company has a 50 day moving average of $64.59 and a 200-day moving average of $57.96. The stock has a market cap of $11.91 billion, a PE ratio of 232.61, a P/E/G ratio of 3.62 and a beta of 1.27.

Insider Transactions at Dayforce

In other news, COO Stephen H. Holdridge sold 1,000 shares of Dayforce stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $65.00, for a total value of $65,000.00. Following the sale, the chief operating officer now directly owns 100,437 shares of the company’s stock, valued at $6,528,405. The trade was a 0.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jeffrey Scott Jacobs sold 643 shares of Dayforce stock in a transaction that occurred on Tuesday, October 15th. The stock was 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 in the company, valued at approximately $2,159,269.38. The trade was a 1.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,643 shares of company stock valued at $384,617 over the last ninety days. Insiders own 4.90% of the company’s stock.

Hedge Funds Weigh In On Dayforce

A number of institutional investors have recently added to or reduced their stakes in the stock. Select Equity Group L.P. purchased a new position in Dayforce during the second quarter worth approximately $721,310,000. EdgePoint Investment Group Inc. purchased a new stake in Dayforce in the second quarter valued at $521,396,000. Dragoneer Investment Group LLC purchased a new stake in Dayforce in the second quarter valued at $193,274,000. Charles Schwab Investment Management Inc. raised its position in Dayforce by 0.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,395,044 shares of the company’s stock valued at $85,446,000 after purchasing an additional 8,506 shares during the period. Finally, Dimensional Fund Advisors LP purchased a new stake in Dayforce in the second quarter valued at $51,027,000.

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.