Dayforce (NYSE:DAY) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

Dayforce (NYSE:DAY) had its price objective hoisted by Stifel Nicolaus from $82.00 to $90.00 in a research note issued to investors on Wednesday morning,Benzinga reports. Stifel Nicolaus currently has a buy rating on the stock.

Other analysts also recently issued research reports about the stock. TD Cowen raised their price target on shares of Dayforce from $58.00 to $62.00 and gave the company a “hold” rating in a report on Monday, October 7th. Citigroup raised their target price on shares of Dayforce from $75.00 to $81.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Piper Sandler reaffirmed an “overweight” rating and issued a $94.00 target price (up previously from $82.00) on shares of Dayforce in a research report on Wednesday, November 13th. BMO Capital Markets increased their price target on Dayforce from $80.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Finally, Barclays lifted their price objective on Dayforce from $80.00 to $84.00 and gave the stock an “equal weight” rating in a report on Friday, December 6th. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Dayforce presently has a consensus rating of “Moderate Buy” and a consensus target price of $79.86.

Dayforce Trading Up 1.1 %

Shares of NYSE:DAY opened at $74.84 on Wednesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.15 and a quick ratio of 1.15. Dayforce has a 1 year low of $47.08 and a 1 year high of $82.69. The company has a market cap of $11.80 billion, a P/E ratio of 226.79, a PEG ratio of 3.68 and a beta of 1.26. The stock’s fifty day moving average price is $74.48 and its 200-day moving average price is $61.59.

Insider Activity at Dayforce

In other Dayforce news, CEO David D. Ossip sold 858,697 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $79.55, for a total value of $68,309,346.35. Following the completion of the sale, the chief executive officer now owns 794,527 shares in the company, valued at approximately $63,204,622.85. This represents a 51.94 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Stephen H. Holdridge sold 1,000 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $63.37, for a total value of $63,370.00. Following the completion of the transaction, the chief operating officer now owns 101,437 shares in the company, valued at $6,428,062.69. The trade was a 0.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 865,340 shares of company stock worth $68,770,223. 4.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Select Equity Group L.P. purchased a new position in shares of Dayforce in the second quarter worth $721,310,000. EdgePoint Investment Group Inc. bought a new stake in Dayforce in the 2nd quarter valued at $521,396,000. Dragoneer Investment Group LLC purchased a new stake in Dayforce in the 2nd quarter worth $193,274,000. Dimensional Fund Advisors LP bought a new position in shares of Dayforce during the 2nd quarter valued at about $51,027,000. Finally, Cannae Holdings Inc. purchased a new position in shares of Dayforce during the second quarter valued at about $49,600,000.

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.