Dayforce (NYSE:DAY) Price Target Cut to $80.00 by Analysts at Barclays

Dayforce (NYSE:DAY) had its price objective trimmed by Barclays from $84.00 to $80.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an equal weight rating on the stock.

A number of other equities analysts also recently weighed in on DAY. Needham & Company LLC lifted their target price on shares of Dayforce from $82.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $80.00 price objective (down from $85.00) on shares of Dayforce in a research report on Wednesday, January 8th. Jefferies Financial Group boosted their price objective on Dayforce from $55.00 to $65.00 and gave the company a “hold” rating in a research note on Tuesday, October 22nd. Piper Sandler reaffirmed an “overweight” rating and set a $94.00 target price (up previously from $82.00) on shares of Dayforce in a research note on Wednesday, November 13th. Finally, TD Cowen boosted their price target on Dayforce from $58.00 to $62.00 and gave the company a “hold” rating in a research note on Monday, October 7th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $79.93.

Dayforce Stock Up 0.2 %

Dayforce stock opened at $70.30 on Friday. The firm has a market cap of $11.09 billion, a price-to-earnings ratio of 213.04, a PEG ratio of 3.68 and a beta of 1.26. Dayforce has a 52-week low of $47.08 and a 52-week high of $82.69. 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 firm has a 50 day moving average price of $76.40 and a two-hundred day moving average price of $64.08.

Insider Buying and Selling at Dayforce

In other Dayforce news, CEO David D. Ossip sold 858,697 shares of Dayforce stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $79.55, for a total transaction of $68,309,346.35. Following the completion of the transaction, the chief executive officer now owns 794,527 shares in the company, valued at approximately $63,204,622.85. The trade was a 51.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Stephen H. Holdridge sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $77.00, for a total value of $77,000.00. Following the sale, the chief operating officer now directly owns 122,022 shares of the company’s stock, valued at $9,395,694. This represents a 0.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 865,340 shares of company stock worth $68,770,223. 4.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Dayforce

Several large investors have recently bought and sold shares of the stock. Select Equity Group L.P. bought a new stake in shares of Dayforce in the 2nd quarter worth $721,310,000. EdgePoint Investment Group Inc. purchased a new position in Dayforce during the second quarter worth about $521,396,000. Dragoneer Investment Group LLC bought a new stake in Dayforce in the 2nd quarter worth about $193,274,000. Dimensional Fund Advisors LP purchased a new stake in Dayforce in the 2nd quarter valued at about $51,027,000. Finally, Cannae Holdings Inc. bought a new position in shares of Dayforce during the 2nd quarter worth approximately $49,600,000.

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.