Dayforce (NYSE:DAY) Given New $67.00 Price Target at BMO Capital Markets

Dayforce (NYSE:DAY - Get Free Report) had its price target increased by stock analysts at BMO Capital Markets from $64.00 to $67.00 in a research note issued to investors on Thursday, MarketBeat reports. The firm presently has an "outperform" rating on the stock. BMO Capital Markets' price objective suggests a potential upside of 18.04% from the company's previous close.

DAY has been the subject of several other research reports. Cowen raised shares of Dayforce from a "hold" rating to a "buy" rating in a research note on Friday, March 7th. Scotiabank dropped their target price on shares of Dayforce from $72.00 to $55.00 and set a "sector perform" rating for the company in a report on Monday, March 17th. Needham & Company LLC restated a "buy" rating and set a $95.00 price target on shares of Dayforce in a research note on Thursday, February 6th. Mizuho dropped their price objective on Dayforce from $95.00 to $80.00 and set an "outperform" rating for the company in a research note on Tuesday, April 15th. Finally, Wells Fargo & Company decreased 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 assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $71.29.

Dayforce Trading Down 2.7 %

Shares of DAY stock traded down $1.57 during trading on Thursday, hitting $56.76. 2,943,663 shares of the stock traded hands, compared to its average volume of 1,764,304. Dayforce has a 52-week low of $47.08 and a 52-week high of $82.69. The firm has a market capitalization of $8.98 billion, a P/E ratio of 516.05, a price-to-earnings-growth ratio of 2.49 and a beta of 1.17. The firm's fifty day moving average price is $56.11 and its 200-day moving average price is $66.63. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.13 and a quick ratio of 1.15.

Dayforce (NYSE:DAY - Get Free Report) last posted its 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 net margin of 1.03% and a return on equity of 6.49%. As a group, research analysts forecast that Dayforce will post 1.48 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Dayforce news, EVP Samer Alkharrat sold 1,916 shares of the firm'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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP William Everett Mcdonald sold 2,000 shares of the company's stock in a transaction dated 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 of the company's stock, valued at approximately $5,935,606.56. This represents a 1.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Dayforce

Institutional investors have recently added to or reduced their stakes in the business. Retirement Systems of Alabama acquired a new stake in Dayforce during the third quarter worth approximately $2,105,000. Principal Financial Group Inc. purchased a new stake in Dayforce in the 3rd quarter valued at $11,135,000. Czech National Bank boosted its stake in shares of Dayforce by 6.2% during the fourth quarter. Czech National Bank now owns 34,193 shares of the company's stock worth $2,484,000 after buying an additional 1,987 shares during the period. Friedenthal Financial acquired a new position in Dayforce in the 4th quarter valued at about $824,000. Finally, Assenagon Asset Management S.A. increased its holdings in shares of Dayforce by 7.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 41,842 shares of the company's stock valued at $3,039,000 after purchasing an additional 2,893 shares during the period.

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.