BMO Capital Markets Forecasts Strong Price Appreciation for Dayforce (NYSE:DAY) Stock

Dayforce (NYSE:DAY) had its target price boosted by BMO Capital Markets from $80.00 to $90.00 in a research report sent to investors on Wednesday, Marketbeat Ratings reports. The brokerage currently has an outperform rating on the stock.

Several other brokerages also recently weighed in on DAY. Citigroup increased their price target on Dayforce from $75.00 to $81.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. TD Cowen increased their price target on Dayforce from $58.00 to $62.00 and gave the stock a “hold” rating in a research report on Monday, October 7th. Mizuho increased their price target on Dayforce from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. KeyCorp initiated coverage on Dayforce in a research report on Tuesday, September 24th. They set an “overweight” rating and a $70.00 price target on the stock. Finally, Barclays raised their target price on Dayforce from $63.00 to $70.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Dayforce has a consensus rating of “Moderate Buy” and a consensus target price of $79.08.

Dayforce Price Performance

Shares of DAY opened at $74.56 on Wednesday. The business’s 50-day moving average is $65.44 and its two-hundred day moving average is $58.17. The company has a market capitalization of $11.76 billion, a P/E ratio of 225.95, a P/E/G ratio of 3.62 and a beta of 1.27. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.15 and a current ratio of 1.15. Dayforce has a fifty-two week low of $47.08 and a fifty-two week high of $81.32.

Insider Activity at Dayforce

In related news, COO Stephen H. Holdridge sold 1,000 shares of the firm’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $65.00, for a total value of $65,000.00. Following the transaction, the chief operating officer now directly owns 100,437 shares of the company’s stock, valued at approximately $6,528,405. This trade represents a 0.99 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jeffrey Scott Jacobs sold 643 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $63.37, for a total transaction of $40,746.91. Following the completion of the transaction, the insider now directly owns 34,074 shares in the company, valued at $2,159,269.38. This trade represents a 1.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,643 shares of company stock valued at $384,617. 4.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Financial Perspectives Inc purchased a new position in Dayforce in the 2nd quarter worth approximately $28,000. Quent Capital LLC purchased a new position in Dayforce in the 3rd quarter worth approximately $28,000. Sentry Investment Management LLC purchased a new position in Dayforce in the 2nd quarter worth approximately $33,000. Farther Finance Advisors LLC purchased a new position in Dayforce in the 3rd quarter worth approximately $40,000. Finally, Quarry LP purchased a new position in Dayforce in the 3rd quarter worth approximately $51,000.

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.