Mizuho Lowers Dayforce (NYSE:DAY) Price Target to $80.00

Dayforce (NYSE:DAY - Get Free Report) had its price objective dropped by research analysts at Mizuho from $95.00 to $80.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Mizuho's target price points to a potential upside of 47.72% from the company's current price.

A number of other equities analysts have also issued reports on the company. Cowen upgraded Dayforce from a "hold" rating to a "buy" rating in a research note on Friday, March 7th. TD Cowen raised shares of Dayforce from a "hold" rating to a "buy" rating and upped their price objective for the company from $67.00 to $68.00 in a report on Friday, March 7th. Barclays reduced their target price on shares of Dayforce from $80.00 to $69.00 and set an "equal weight" rating for the company in a report on Thursday, February 6th. Jefferies Financial Group lowered their price target on shares of Dayforce from $80.00 to $75.00 and set a "hold" rating on the stock in a report on Thursday, February 6th. Finally, Scotiabank reduced their price objective on Dayforce from $72.00 to $55.00 and set a "sector perform" rating for the company in a research note on Monday, March 17th. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $76.79.

Dayforce Stock Down 1.5 %

Shares of NYSE DAY traded down $0.84 during midday trading on Tuesday, reaching $54.16. 1,549,927 shares of the company's stock traded hands, compared to its average volume of 1,746,470. The company has a market cap of $8.57 billion, a price-to-earnings ratio of 492.38, a P/E/G ratio of 2.49 and a beta of 1.20. The stock's 50 day simple moving average is $58.30 and its 200-day simple moving average is $67.28. The company has a quick ratio of 1.15, a current ratio of 1.13 and a debt-to-equity ratio of 0.47. Dayforce has a one year low of $47.08 and a one year high of $82.69.

Dayforce (NYSE:DAY - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $0.37 earnings per share 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 predict that Dayforce will post 1.48 EPS for the current fiscal year.

Insider Buying and Selling at Dayforce

In other news, EVP William Everett Mcdonald sold 2,000 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 105,691 shares of the company's stock, valued at $5,935,606.56. This trade represents a 1.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.50% of the stock is owned by company insiders.

Institutional Trading of Dayforce

A number of hedge funds have recently added to or reduced their stakes in DAY. Harvest Fund Management Co. Ltd acquired a new position in shares of Dayforce in the 4th quarter valued at about $61,000. Federated Hermes Inc. acquired a new position in Dayforce during the fourth quarter valued at approximately $72,000. AlphaQuest LLC grew its stake in Dayforce by 14,800.0% during the fourth quarter. AlphaQuest LLC now owns 1,043 shares of the company's stock worth $76,000 after buying an additional 1,036 shares during the period. Smartleaf Asset Management LLC increased its position in shares of Dayforce by 69.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,227 shares of the company's stock worth $89,000 after acquiring an additional 501 shares in the last quarter. Finally, Mufg Securities Americas Inc. purchased a new position in shares of Dayforce in the 4th quarter valued at $169,000.

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.