Dayforce (NYSE:DAY) Price Target Lowered to $83.00 at Citigroup

Dayforce (NYSE:DAYGet Free Report) had its price target cut by equities researchers at Citigroup from $90.00 to $83.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s price objective indicates a potential upside of 17.96% from the stock’s previous close.

DAY has been the subject of a number of other reports. KeyCorp increased their price target on Dayforce from $80.00 to $92.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Piper Sandler reiterated an “overweight” rating and set a $94.00 price objective (up from $82.00) on shares of Dayforce in a report on Wednesday, November 13th. BMO Capital Markets upped their target price on Dayforce from $80.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Needham & Company LLC raised their price objective on shares of Dayforce from $82.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Finally, Jefferies Financial Group increased their price target on shares of Dayforce from $55.00 to $65.00 and gave the stock a “hold” rating in a research note on Tuesday, October 22nd. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $80.07.

Get Our Latest Research Report on Dayforce

Dayforce Stock Up 0.2 %

Dayforce stock traded up $0.13 during midday trading on Thursday, hitting $70.36. The stock had a trading volume of 705,776 shares, compared to its average volume of 1,246,675. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.47. The business has a fifty day moving average price of $75.96 and a 200 day moving average price of $64.42. Dayforce has a 12 month low of $47.08 and a 12 month high of $82.69. The stock has a market cap of $11.10 billion, a P/E ratio of 213.32, a P/E/G ratio of 2.61 and a beta of 1.26.

Insider Transactions at Dayforce

In other news, COO Stephen H. Holdridge sold 1,000 shares of the company’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 sale, the chief operating officer now directly owns 100,437 shares of the company’s stock, valued at approximately $6,528,405. This represents a 0.99 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 value of $68,309,346.35. Following the transaction, the chief executive officer now owns 794,527 shares of the company’s stock, valued at $63,204,622.85. The trade was a 51.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 863,697 shares of company stock valued at $68,666,106 over the last 90 days. 4.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Dayforce

Hedge funds have recently added to or reduced their stakes in the business. Acadian Asset Management LLC acquired a new stake in shares of Dayforce during the 2nd quarter worth about $287,000. Texas Permanent School Fund Corp acquired a new position in Dayforce during the second quarter valued at approximately $1,281,000. State of New Jersey Common Pension Fund D acquired a new stake in shares of Dayforce in the 2nd quarter valued at $2,760,000. American Century Companies Inc. bought a new position in shares of Dayforce in the 2nd quarter valued at $264,000. Finally, DekaBank Deutsche Girozentrale acquired a new position in shares of Dayforce during the 2nd quarter worth $1,017,000.

Dayforce Company Profile

(Get Free Report)

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.

See Also

Analyst Recommendations for Dayforce (NYSE:DAY)

Receive News & Ratings for Dayforce Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dayforce and related companies with MarketBeat.com's FREE daily email newsletter.