Dayforce (NYSE:DAY) Given "Buy" Rating at Needham & Company LLC

Dayforce (NYSE:DAY - Get Free Report)'s stock had its "buy" rating reissued by research analysts at Needham & Company LLC in a note issued to investors on Thursday,Benzinga reports. They currently have a $95.00 price target on the stock. Needham & Company LLC's target price indicates a potential upside of 60.23% from the company's current price.

Other equities analysts also recently issued research reports about the company. BMO Capital Markets boosted their target price on Dayforce from $64.00 to $67.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th. Piper Sandler restated an "overweight" rating and issued a $83.00 target price (down previously from $94.00) on shares of Dayforce in a research note on Wednesday, February 5th. Stifel Nicolaus cut their target price on Dayforce from $90.00 to $85.00 and set a "buy" rating on the stock in a research note on Thursday, February 6th. Cowen upgraded Dayforce from a "hold" rating to a "buy" rating in a research note on Friday, March 7th. Finally, Wells Fargo & Company cut their target price on Dayforce from $70.00 to $60.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 22nd. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $71.29.

Dayforce Stock Down 0.5%

DAY traded down $0.31 during midday trading on Thursday, reaching $59.29. 584,226 shares of the company were exchanged, compared to its average volume of 1,760,271. 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 company's fifty day moving average price is $56.16 and its 200 day moving average price is $66.61. The company has a market cap of $9.38 billion, a price-to-earnings ratio of 539.05, a price-to-earnings-growth ratio of 2.49 and a beta of 1.17. Dayforce has a one year low of $47.08 and a one year high of $82.69.

Insider Buying and Selling at Dayforce

In related news, EVP Samer Alkharrat sold 1,916 shares of the firm's stock in a transaction that occurred on Friday, April 25th. The shares were sold at an average price of $56.64, for a total value of $108,522.24. Following the sale, the executive vice president now owns 150,237 shares in the company, valued at approximately $8,509,423.68. This trade represents a 1.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP William Everett Mcdonald sold 2,000 shares of the business's stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $56.16, for a total transaction of $112,320.00. Following the sale, the executive vice president now directly owns 105,691 shares of the company's stock, valued at approximately $5,935,606.56. The trade was a 1.86% decrease in their position. The disclosure for this sale can be found here. Company insiders own 4.50% of the company's stock.

Institutional Trading of Dayforce

Several hedge funds have recently made changes to their positions in DAY. Xponance Inc. increased its holdings in Dayforce by 0.8% in the first quarter. Xponance Inc. now owns 22,673 shares of the company's stock valued at $1,323,000 after buying an additional 179 shares in the last quarter. Metis Global Partners LLC increased its stake in Dayforce by 3.8% during the 4th quarter. Metis Global Partners LLC now owns 5,261 shares of the company's stock worth $382,000 after buying an additional 193 shares during the period. Covestor Ltd increased its stake in Dayforce by 15.6% during the 1st quarter. Covestor Ltd now owns 1,430 shares of the company's stock worth $83,000 after buying an additional 193 shares during the period. HighTower Advisors LLC increased its position in shares of Dayforce by 3.5% in the 1st quarter. HighTower Advisors LLC now owns 5,931 shares of the company's stock valued at $346,000 after purchasing an additional 203 shares during the last quarter. Finally, Stifel Financial Corp grew its position in shares of Dayforce by 4.1% in the 4th quarter. Stifel Financial Corp now owns 5,206 shares of the company's stock valued at $378,000 after buying an additional 205 shares during the last quarter.

Dayforce Company Profile

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.