Dayforce (NYSE:DAY) Given New $65.00 Price Target at KeyCorp

Dayforce (NYSE:DAY - Get Free Report) had its price objective cut by KeyCorp from $80.00 to $65.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. KeyCorp's target price indicates a potential upside of 12.42% from the company's previous close.

DAY has been the subject of several other reports. Cowen upgraded Dayforce from a "hold" rating to a "buy" rating in a report on Friday, March 7th. Needham & Company LLC reiterated a "buy" rating and issued a $95.00 target price on shares of Dayforce in a research note on Thursday, February 6th. Jefferies Financial Group dropped their price target on shares of Dayforce from $80.00 to $75.00 and set a "hold" rating on the stock in a research note on Thursday, February 6th. Citigroup cut their price target on shares of Dayforce from $90.00 to $83.00 and set a "buy" rating on the stock in a report on Thursday, January 16th. Finally, Mizuho decreased their price objective on shares of Dayforce from $95.00 to $80.00 and set an "outperform" rating for the company in a report on Tuesday, April 15th. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, Dayforce currently has an average rating of "Moderate Buy" and a consensus target price of $74.86.

Dayforce Stock Up 1.0 %

DAY stock traded up $0.55 during midday trading on Tuesday, reaching $57.82. The company had a trading volume of 1,232,792 shares, compared to its average volume of 1,757,794. The company has a 50 day moving average of $57.20 and a two-hundred day moving average of $67.07. The company has a market capitalization of $9.15 billion, a P/E ratio of 525.68, a PEG ratio of 2.49 and a beta of 1.20. Dayforce has a 1 year low of $47.08 and a 1 year high of $82.69. The company has a current ratio of 1.13, a quick ratio of 1.15 and a debt-to-equity ratio of 0.47.

Dayforce (NYSE:DAY - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.09). Dayforce had a return on equity of 6.49% and a net margin of 1.03%. On average, equities research analysts expect that Dayforce will post 1.48 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP William Everett Mcdonald sold 2,000 shares of the 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Dayforce

A number of institutional investors and hedge funds have recently bought and sold shares of DAY. Metis Global Partners LLC grew its position in Dayforce by 3.8% in the 4th quarter. Metis Global Partners LLC now owns 5,261 shares of the company's stock worth $382,000 after purchasing an additional 193 shares during the last quarter. Stifel Financial Corp grew its position in Dayforce by 4.1% during the fourth quarter. Stifel Financial Corp now owns 5,206 shares of the company's stock worth $378,000 after buying an additional 205 shares in the last quarter. United Capital Financial Advisors LLC grew its position in Dayforce by 3.5% during the fourth quarter. United Capital Financial Advisors LLC now owns 6,740 shares of the company's stock worth $490,000 after buying an additional 228 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its stake in Dayforce by 0.6% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 43,707 shares of the company's stock valued at $3,175,000 after acquiring an additional 277 shares during the period. Finally, Utah Retirement Systems raised its holdings in Dayforce by 1.2% in the 4th quarter. Utah Retirement Systems now owns 24,923 shares of the company's stock valued at $1,810,000 after acquiring an additional 300 shares in the last quarter.

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.