Barclays Boosts Dayforce (NYSE:DAY) Price Target to $84.00

Dayforce (NYSE:DAY) had its price objective lifted by equities research analysts at Barclays from $80.00 to $84.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Barclays‘s price objective suggests a potential upside of 6.56% from the stock’s previous close.

Several other equities research analysts have also issued reports on the stock. KeyCorp raised their price target on shares of Dayforce from $80.00 to $92.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. TD Cowen raised their price target on shares of Dayforce from $58.00 to $62.00 and gave the stock a “hold” rating in a research note on Monday, October 7th. Piper Sandler restated 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. Mizuho raised their price target on shares of Dayforce from $85.00 to $95.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Finally, 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, October 31st. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Dayforce has an average rating of “Moderate Buy” and an average price target of $79.08.

Dayforce Stock Up 2.1 %

NYSE:DAY traded up $1.62 on Friday, hitting $78.83. The stock had a trading volume of 83,807 shares, compared to its average volume of 1,608,008. The firm’s fifty day simple moving average is $71.06 and its two-hundred day simple moving average is $59.99. 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 1 year low of $47.08 and a 1 year high of $82.69. The stock has a market cap of $12.43 billion, a P/E ratio of 238.88, a price-to-earnings-growth ratio of 3.78 and a beta of 1.26.

Insider Buying and Selling at Dayforce

In other news, COO Stephen H. Holdridge sold 1,000 shares of Dayforce stock in a transaction 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 sale, the chief operating officer now directly owns 101,437 shares of the company’s stock, valued at approximately $6,428,062.69. The trade was a 0.98 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jeffrey Scott Jacobs sold 643 shares of Dayforce 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 sale, the insider now directly owns 34,074 shares of the company’s stock, valued at $2,159,269.38. This represents a 1.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 865,340 shares of company stock valued at $68,770,223 in the last three months. Company insiders own 4.90% of the company’s stock.

Institutional Trading of Dayforce

Hedge funds have recently made changes to their positions in the stock. Financial Perspectives Inc purchased a new position in shares of Dayforce in the second quarter valued at about $28,000. Quent Capital LLC bought a new position in shares of Dayforce in the third quarter worth approximately $28,000. Sentry Investment Management LLC bought a new position in shares of Dayforce in the second quarter worth approximately $33,000. Farther Finance Advisors LLC bought a new position in Dayforce during the third quarter valued at approximately $40,000. Finally, Quarry LP bought a new position in Dayforce during the third quarter valued at approximately $51,000.

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.