Needham & Company LLC Reiterates Buy Rating for Dayforce (NYSE:DAY)

Dayforce (NYSE:DAY - Get Free Report)'s stock had its "buy" rating restated by investment analysts at Needham & Company LLC in a note issued to investors on Monday,Benzinga reports. They currently have a $95.00 price target on the stock. Needham & Company LLC's target price indicates a potential upside of 72.61% from the company's current price.

A number of other equities analysts have also issued reports on the stock. Mizuho decreased their target price on shares of Dayforce from $95.00 to $80.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. KeyCorp dropped their price target on shares of Dayforce from $80.00 to $65.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Barclays cut their target price on shares of Dayforce from $61.00 to $60.00 and set an "equal weight" rating for the company in a research note on Thursday, May 8th. 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. Finally, TD Cowen raised Dayforce from a "hold" rating to a "buy" rating and lifted their price target for the stock from $67.00 to $68.00 in a research note on Friday, March 7th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $70.86.

Dayforce Trading Down 0.2%

Shares of NYSE:DAY opened at $55.04 on Monday. The company's 50-day moving average price is $57.78 and its 200 day moving average price is $62.07. Dayforce has a fifty-two week low of $47.08 and a fifty-two week high of $82.69. The company has a market cap of $8.80 billion, a PE ratio of 344.00, a P/E/G ratio of 2.16 and a beta of 1.12. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.24.

Insider Activity

In other Dayforce news, EVP Samer Alkharrat sold 1,916 shares of the stock in a transaction that occurred on Friday, April 25th. The stock was sold at an average price of $56.64, for a total transaction of $108,522.24. Following the transaction, the executive vice president now 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 sale was disclosed in a document filed with the SEC, which is available at 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 stock was sold at an average price of $56.16, for a total transaction of $112,320.00. Following the completion of the sale, the executive vice president now owns 105,691 shares of the company's stock, valued at $5,935,606.56. The trade was a 1.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,580 shares of company stock valued at $259,321. Insiders own 4.50% of the company's stock.

Institutional Trading of Dayforce

Hedge funds have recently added to or reduced their stakes in the business. Proficio Capital Partners LLC bought a new stake in shares of Dayforce in the fourth quarter valued at approximately $1,314,000. QRG Capital Management Inc. acquired a new position in Dayforce during the 4th quarter valued at $227,000. Fisher Asset Management LLC boosted its holdings in Dayforce by 38.4% in the 4th quarter. Fisher Asset Management LLC now owns 55,361 shares of the company's stock valued at $4,021,000 after purchasing an additional 15,359 shares during the period. 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. Finally, Smartleaf Asset Management LLC increased its holdings in shares of Dayforce by 69.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,227 shares of the company's stock worth $89,000 after purchasing an additional 501 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.

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