Dayforce (NYSE:DAY) Stock Price Expected to Rise, UBS Group Analyst Says

Dayforce (NYSE:DAY - Get Free Report) had its price objective raised by stock analysts at UBS Group from $68.00 to $72.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. UBS Group's price objective indicates a potential upside of 21.75% from the stock's current price.

Several other analysts also recently weighed in on DAY. Scotiabank cut their target price on Dayforce from $72.00 to $55.00 and set a "sector perform" rating on the stock in a research note on Monday, March 17th. Barclays cut their price objective on shares of Dayforce from $61.00 to $60.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 8th. Piper Sandler decreased their target price on shares of Dayforce from $83.00 to $70.00 and set an "overweight" rating for the company in a research report on Wednesday, May 7th. Wells Fargo & Company lowered their target price on shares of Dayforce from $70.00 to $60.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 22nd. Finally, Mizuho reduced their price target on shares of Dayforce from $95.00 to $80.00 and set an "outperform" rating for the company in a research note on Tuesday, April 15th. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $71.57.

Dayforce Stock Performance

Shares of NYSE:DAY traded down $0.76 during trading hours on Thursday, hitting $59.14. The stock had a trading volume of 1,496,099 shares, compared to its average volume of 1,782,781. The stock's fifty day simple moving average is $56.78 and its 200 day simple moving average is $64.77. The firm has a market capitalization of $9.45 billion, a price-to-earnings ratio of 537.65, a PEG ratio of 2.49 and a beta of 1.12. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.15 and a current ratio of 1.13. Dayforce has a 1-year low of $47.08 and a 1-year high of $82.69.

Insider Buying and Selling

In related news, EVP William Everett Mcdonald sold 2,000 shares of Dayforce stock in a transaction 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 transaction, the executive vice president now directly owns 105,691 shares in the company, valued at $5,935,606.56. The trade was a 1.86% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Samer Alkharrat sold 1,916 shares of the business's stock in a transaction on Friday, April 25th. The stock was sold at an average price of $56.64, for a total value of $108,522.24. Following the sale, the executive vice president now directly owns 150,237 shares in the company, valued at $8,509,423.68. This trade represents a 1.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 4.50% of the company's stock.

Hedge Funds Weigh In On Dayforce

Hedge funds and other institutional investors have recently modified their holdings of the stock. E. Ohman J or Asset Management AB lifted its stake in Dayforce by 37.3% during the fourth quarter. E. Ohman J or Asset Management AB now owns 8,100 shares of the company's stock valued at $588,000 after buying an additional 2,200 shares in the last quarter. Yousif Capital Management LLC raised its holdings in shares of Dayforce by 9.7% during the fourth quarter. Yousif Capital Management LLC now owns 22,423 shares of the company's stock valued at $1,629,000 after acquiring an additional 1,985 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Dayforce by 31.8% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,028 shares of the company's stock valued at $1,398,000 after acquiring an additional 4,596 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of Dayforce by 46.5% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 19,900 shares of the company's stock valued at $1,446,000 after acquiring an additional 6,314 shares in the last quarter. Finally, Asset Management One Co. Ltd. boosted its stake in Dayforce by 1.9% in the 4th quarter. Asset Management One Co. Ltd. now owns 63,116 shares of the company's stock worth $4,653,000 after purchasing an additional 1,198 shares during the period.

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.