Dayforce (NYSE:DAY) Price Target Lowered to $65.00 at KeyCorp

Dayforce (NYSE:DAY) had its target price cut by KeyCorp from $80.00 to $65.00 in a research report report published on Tuesday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other equities research analysts have also commented on DAY. Wells Fargo & Company reduced their price objective on Dayforce from $70.00 to $60.00 and set an “equal weight” rating for the company in a research note on Tuesday. Barclays decreased their target price on Dayforce from $69.00 to $61.00 and set an “equal weight” rating on the stock in a research report on Monday. Citigroup decreased their price target on shares of Dayforce from $90.00 to $83.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. Jefferies Financial Group dropped their price objective on shares of Dayforce from $80.00 to $75.00 and set a “hold” rating for the company in a research note on Thursday, February 6th. Finally, TD Cowen raised Dayforce from a “hold” rating to a “buy” rating and upped their price objective for the company from $67.00 to $68.00 in a research report on Friday, March 7th. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $74.86.

Dayforce Trading Up 2.3 %

DAY opened at $53.51 on Tuesday. Dayforce has a 52 week low of $47.08 and a 52 week high of $82.69. The stock has a market cap of $8.47 billion, a PE ratio of 486.50, a PEG ratio of 2.49 and a beta of 1.20. The company has a quick ratio of 1.15, a current ratio of 1.13 and a debt-to-equity ratio of 0.47. The business has a 50 day moving average of $57.79 and a 200-day moving average of $67.16.

Dayforce (NYSE:DAY) last announced its quarterly earnings data 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%. Equities research analysts predict that Dayforce will post 1.48 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP William Everett Mcdonald sold 2,000 shares of Dayforce stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $56.16, for a total transaction of $112,320.00. Following the sale, the executive vice president now owns 105,691 shares in the company, valued at approximately $5,935,606.56. The trade was a 1.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 4.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Dayforce

Institutional investors and hedge funds have recently made changes to their positions in the business. State of Alaska Department of Revenue increased its stake in Dayforce by 3.6% in the 1st quarter. State of Alaska Department of Revenue now owns 18,630 shares of the company’s stock valued at $1,086,000 after buying an additional 645 shares during the period. Exchange Traded Concepts LLC boosted its holdings in Dayforce by 38.6% in the 1st quarter. Exchange Traded Concepts LLC now owns 3,669 shares of the company’s stock valued at $214,000 after purchasing an additional 1,022 shares in the last quarter. Fifth Third Bancorp boosted its holdings in Dayforce by 7.1% in the 1st quarter. Fifth Third Bancorp now owns 9,802 shares of the company’s stock valued at $572,000 after purchasing an additional 648 shares in the last quarter. USA Financial Formulas increased its position in Dayforce by 32.5% during the 1st quarter. USA Financial Formulas now owns 4,086 shares of the company’s stock worth $238,000 after purchasing an additional 1,002 shares during the period. Finally, CX Institutional purchased a new position in Dayforce in the first quarter worth $190,000.

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.