Dayforce (NYSE:DAY) Given New $55.00 Price Target at Scotiabank

Dayforce (NYSE:DAY) had its price objective dropped by Scotiabank from $72.00 to $55.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a “sector perform” rating on the stock. Scotiabank’s price target would suggest a potential downside of 3.76% from the stock’s previous close.

DAY has been the topic of several other reports. Jefferies Financial Group lowered their price target on Dayforce from $80.00 to $75.00 and set a “hold” rating on the stock in a research report on Thursday, February 6th. Stifel Nicolaus lowered their price target on Dayforce from $90.00 to $85.00 and set a “buy” rating on the stock in a research report on Thursday, February 6th. Barclays lowered their price target on Dayforce from $80.00 to $69.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 6th. Needham & Company LLC reiterated a “buy” rating and set a $95.00 price target on shares of Dayforce in a research report on Thursday, February 6th. Finally, Cowen upgraded Dayforce from a “hold” rating to a “buy” rating in a research report on Friday, March 7th. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $77.86.

Dayforce Stock Up 0.4 %

DAY opened at $57.15 on Monday. Dayforce has a 12 month low of $47.08 and a 12 month high of $82.69. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.13 and a quick ratio of 1.15. The stock has a market cap of $9.08 billion, a P/E ratio of 519.59, a P/E/G ratio of 2.49 and a beta of 1.33. The stock’s 50 day moving average price is $65.08 and its 200 day moving average price is $67.81.

Dayforce (NYSE:DAY) last posted its earnings results on Wednesday, February 5th. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.09). Dayforce had a net margin of 1.03% and a return on equity of 6.49%. As a group, research analysts predict that Dayforce will post 1.48 earnings per share for the current year.

Insider Transactions at Dayforce

In other news, COO Stephen H. Holdridge sold 1,000 shares of the firm’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $71.33, for a total value of $71,330.00. Following the completion of the sale, the chief operating officer now owns 119,022 shares of the company’s stock, valued at $8,489,839.26. This trade represents a 0.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 4.90% of the stock is currently owned by insiders.

Institutional Trading of Dayforce

Several hedge funds and other institutional investors have recently modified their holdings of the business. Lansforsakringar Fondforvaltning AB publ acquired a new stake in shares of Dayforce in the fourth quarter worth $3,680,000. Siemens Fonds Invest GmbH purchased a new stake in shares of Dayforce during the fourth quarter worth $3,669,000. Mackenzie Financial Corp raised its holdings in shares of Dayforce by 557.6% during the fourth quarter. Mackenzie Financial Corp now owns 34,038 shares of the company’s stock worth $2,468,000 after acquiring an additional 28,862 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Dayforce by 23.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,207,045 shares of the company’s stock worth $87,680,000 after acquiring an additional 226,353 shares in the last quarter. Finally, Woodline Partners LP raised its holdings in shares of Dayforce by 53.1% during the fourth quarter. Woodline Partners LP now owns 634,345 shares of the company’s stock worth $46,079,000 after acquiring an additional 220,112 shares in the last quarter.

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.