Dayforce (NYSE:DAY) Earns Hold Rating from Deutsche Bank Aktiengesellschaft

Dayforce (NYSE:DAY)‘s stock had its “hold” rating reaffirmed by stock analysts at Deutsche Bank Aktiengesellschaft in a note issued to investors on Wednesday, MarketBeat Ratings reports. They presently have a $80.00 price target on the stock, down from their previous price target of $85.00. Deutsche Bank Aktiengesellschaft’s price target would suggest a potential upside of 14.40% from the company’s previous close.

Other research analysts have also recently issued reports about the stock. Mizuho increased their price target on shares of Dayforce from $85.00 to $95.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Scotiabank assumed coverage on Dayforce in a report on Monday, November 18th. They set a “sector perform” rating and a $75.00 price target for the company. Citigroup upped their price objective on Dayforce from $75.00 to $81.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Needham & Company LLC lifted their target price on Dayforce from $82.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Finally, Piper Sandler reissued 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. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Dayforce presently has a consensus rating of “Moderate Buy” and an average target price of $80.21.

Dayforce Price Performance

NYSE:DAY opened at $69.93 on Wednesday. The firm’s fifty day moving average price is $76.50 and its two-hundred day moving average price is $63.74. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.15 and a quick ratio of 1.15. The company has a market cap of $11.03 billion, a P/E ratio of 211.92, a P/E/G ratio of 3.68 and a beta of 1.26. Dayforce has a one year low of $47.08 and a one year high of $82.69.

Insider Buying and Selling at Dayforce

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

Institutional Investors Weigh In On Dayforce

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Everence Capital Management Inc. acquired a new stake in shares of Dayforce during the fourth quarter valued at about $354,000. GAMMA Investing LLC raised its holdings in Dayforce by 52.1% in the 4th quarter. GAMMA Investing LLC now owns 2,926 shares of the company’s stock valued at $213,000 after buying an additional 1,002 shares during the last quarter. Principal Financial Group Inc. acquired a new stake in Dayforce during the 3rd quarter worth approximately $11,135,000. Retirement Systems of Alabama bought a new stake in Dayforce during the 3rd quarter worth approximately $2,105,000. Finally, Tidal Investments LLC increased its holdings in Dayforce by 85.6% in the third quarter. Tidal Investments LLC now owns 28,359 shares of the company’s stock valued at $1,737,000 after purchasing an additional 13,078 shares during the period.

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.