Dayforce (NYSE:DAY) Price Target Lowered to $80.00 at Mizuho

Dayforce (NYSE:DAY) had its price target reduced by Mizuho from $95.00 to $80.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Mizuho’s price objective indicates a potential upside of 42.17% from the stock’s current price.

Other research analysts have also recently issued reports about the stock. Scotiabank dropped their target price on shares of Dayforce from $72.00 to $55.00 and set a “sector perform” rating on the stock in a research note on Monday, March 17th. Cowen raised Dayforce from a “hold” rating to a “buy” rating in a research report on Friday, March 7th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $80.00 price objective (down from $85.00) on shares of Dayforce in a research note on Wednesday, January 8th. Stifel Nicolaus lowered their price target on shares of Dayforce from $90.00 to $85.00 and set a “buy” rating on the stock in a research report on Thursday, February 6th. Finally, TD Cowen raised shares of Dayforce from a “hold” rating to a “buy” rating and raised their price objective for the stock from $67.00 to $68.00 in a report on Friday, March 7th. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $76.79.

Dayforce Stock Performance

Shares of Dayforce stock opened at $56.27 on Tuesday. The company has a market cap of $8.91 billion, a PE ratio of 511.59, a price-to-earnings-growth 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. Dayforce has a 52 week low of $47.08 and a 52 week high of $82.69. The business has a 50 day moving average price of $59.15 and a 200-day moving average price of $67.50.

Dayforce (NYSE:DAY) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.09). Dayforce had a return on equity of 6.49% and a net margin of 1.03%. Equities analysts anticipate that Dayforce will post 1.48 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Dayforce news, COO Stephen H. Holdridge sold 1,000 shares of Dayforce stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $71.33, for a total transaction of $71,330.00. Following the sale, the chief operating officer now directly owns 119,022 shares of the company’s stock, valued at approximately $8,489,839.26. The trade was a 0.83 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 4.50% of the company’s stock.

Institutional Investors Weigh In On Dayforce

Hedge funds have recently made changes to their positions in the company. Czech National Bank lifted its position in Dayforce by 6.8% during the first quarter. Czech National Bank now owns 36,519 shares of the company’s stock valued at $2,130,000 after buying an additional 2,326 shares during the period. Rhumbline Advisers lifted its position in Dayforce by 16.4% during the 1st quarter. Rhumbline Advisers now owns 311,955 shares of the company’s stock valued at $18,196,000 after acquiring an additional 43,944 shares during the period. GAMMA Investing LLC boosted its stake in Dayforce by 6,038.0% during the first quarter. GAMMA Investing LLC now owns 179,598 shares of the company’s stock worth $10,476,000 after acquiring an additional 176,672 shares in the last quarter. Lansforsakringar Fondforvaltning AB publ purchased a new stake in Dayforce in the fourth quarter worth about $3,680,000. Finally, Siemens Fonds Invest GmbH purchased a new stake in shares of Dayforce in the 4th quarter worth approximately $3,669,000.

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.