Dayforce (NYSE:DAY) Price Target Raised to $72.00

Dayforce (NYSE:DAY) had its price objective raised by UBS Group from $68.00 to $72.00 in a research note issued to investors on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

Other equities analysts have also recently issued reports about the company. Jefferies Financial Group restated a “hold” rating on shares of Dayforce in a research report on Friday, May 23rd. Barclays dropped their price target on Dayforce from $61.00 to $60.00 and set an “equal weight” rating for the company in a research report on Thursday, May 8th. Piper Sandler cut their price target on shares of Dayforce from $83.00 to $70.00 and set an “overweight” rating for the company in a research note on Wednesday, May 7th. TD Cowen upgraded shares of Dayforce from a “hold” rating to a “buy” rating and raised their price objective for the company from $67.00 to $68.00 in a research report on Friday, March 7th. Finally, Cowen raised shares of Dayforce from a “hold” rating to a “buy” rating in a report on Friday, March 7th. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, Dayforce has a consensus rating of “Moderate Buy” and a consensus price target of $71.57.

Dayforce Price Performance

Dayforce stock opened at $60.39 on Thursday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.13 and a quick 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 $9.66 billion, a P/E ratio of 549.06, a PEG ratio of 2.49 and a beta of 1.12. The business has a fifty day moving average price of $56.83 and a 200-day moving average price of $64.49.

Insider Transactions at Dayforce

In other Dayforce news, EVP Samer Alkharrat sold 1,916 shares of the business’s stock in a transaction dated Friday, April 25th. The shares were sold at an average price of $56.64, for a total value of $108,522.24. Following the completion of the sale, the executive vice president now directly owns 150,237 shares of the company’s stock, valued at $8,509,423.68. The trade was a 1.26% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP William Everett Mcdonald sold 2,000 shares of the stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $56.16, for a total value of $112,320.00. Following the completion of the transaction, the executive vice president now directly owns 105,691 shares in the company, valued at approximately $5,935,606.56. This trade represents a 1.86% decrease in their position. The disclosure for this sale can be found here. Company insiders own 4.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. E. Ohman J or Asset Management AB grew its stake in Dayforce by 37.3% during the 4th quarter. E. Ohman J or Asset Management AB now owns 8,100 shares of the company’s stock worth $588,000 after buying an additional 2,200 shares during the last quarter. Yousif Capital Management LLC boosted its holdings in Dayforce by 9.7% in the fourth quarter. Yousif Capital Management LLC now owns 22,423 shares of the company’s stock worth $1,629,000 after acquiring an additional 1,985 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Dayforce by 31.8% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,028 shares of the company’s stock valued at $1,398,000 after purchasing an additional 4,596 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in Dayforce by 46.5% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 19,900 shares of the company’s stock worth $1,446,000 after purchasing an additional 6,314 shares in the last quarter. Finally, Asset Management One Co. Ltd. grew its position in Dayforce by 1.9% during the 4th quarter. Asset Management One Co. Ltd. now owns 63,116 shares of the company’s stock worth $4,653,000 after purchasing an additional 1,198 shares during the last quarter.

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.