Dayforce (NYSE:DAY - Get Free Report) had its price target lowered by Citigroup from $78.00 to $68.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Citigroup's target price would suggest a potential upside of 18.00% from the stock's current price.
DAY has been the subject of a number of other research reports. Needham & Company LLC restated a "buy" rating and set a $95.00 price objective on shares of Dayforce in a report on Thursday, February 6th. Scotiabank reduced their price objective on Dayforce from $72.00 to $55.00 and set a "sector perform" rating for the company in a report on Monday, March 17th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $80.00 price target (down from $85.00) on shares of Dayforce in a research note on Wednesday, January 8th. Cowen upgraded Dayforce from a "hold" rating to a "buy" rating in a research note on Friday, March 7th. Finally, Jefferies Financial Group cut their price target on Dayforce from $80.00 to $75.00 and set a "hold" rating for the company in a research note on Thursday, February 6th. Six 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, the stock currently has an average rating of "Moderate Buy" and an average target price of $73.79.
Check Out Our Latest Stock Analysis on DAY
Dayforce Stock Performance
Dayforce stock traded up $0.37 during midday trading on Tuesday, reaching $57.63. 355,452 shares of the company's stock were exchanged, compared to its average volume of 1,887,898. Dayforce has a 52 week low of $47.08 and a 52 week high of $82.69. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.15 and a current ratio of 1.13. The firm has a market cap of $9.12 billion, a price-to-earnings ratio of 524.18, a P/E/G ratio of 2.49 and a beta of 1.20. The stock's 50-day simple moving average is $56.98 and its 200 day simple moving average is $67.07.
Dayforce (NYSE:DAY - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $0.37 earnings per share (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%. On average, analysts expect that Dayforce will post 1.48 earnings per share for the current fiscal year.
Insider Transactions at Dayforce
In other Dayforce news, EVP William Everett Mcdonald sold 2,000 shares of the firm's stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $56.16, for a total value of $112,320.00. Following the completion of the sale, the executive vice president now owns 105,691 shares of the company's stock, valued at approximately $5,935,606.56. This trade represents a 1.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 4.50% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
Several hedge funds have recently modified their holdings of DAY. Harvest Fund Management Co. Ltd bought a new stake in shares of Dayforce in the fourth quarter valued at $61,000. Mather Group LLC. increased its stake in shares of Dayforce by 196.9% in the first quarter. Mather Group LLC. now owns 962 shares of the company's stock worth $56,000 after buying an additional 638 shares during the period. Federated Hermes Inc. bought a new stake in Dayforce in the fourth quarter valued at $72,000. AlphaQuest LLC boosted its holdings in Dayforce by 14,800.0% in the fourth quarter. AlphaQuest LLC now owns 1,043 shares of the company's stock valued at $76,000 after acquiring an additional 1,036 shares in the last quarter. Finally, Smartleaf Asset Management LLC boosted its holdings in shares of Dayforce by 69.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,227 shares of the company's stock valued at $89,000 after buying an additional 501 shares in the last quarter.
About Dayforce
(
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.
Further Reading
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