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

Needham & Company LLC reiterated their buy rating on shares of Dayforce (NYSE:DAY) in a report released on Thursday morning,Benzinga reports. They currently have a $95.00 price objective on the stock.

DAY has been the topic of a number of other reports. Barclays lowered their price target on shares of Dayforce from $80.00 to $69.00 and set an “equal weight” rating on the stock in a report on Thursday. KeyCorp upped their price target on Dayforce from $80.00 to $92.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Piper Sandler reissued an “overweight” rating and issued a $83.00 price objective (down previously from $94.00) on shares of Dayforce in a research report on Wednesday. Mizuho increased their price target on Dayforce from $85.00 to $95.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $80.00 target price (down from $85.00) on shares of Dayforce in a research note on Wednesday, January 8th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $78.64.

Dayforce Price Performance

DAY stock opened at $65.59 on Thursday. The stock has a market cap of $10.34 billion, a PE ratio of 198.78, a P/E/G ratio of 2.59 and a beta of 1.26. Dayforce has a 12 month low of $47.08 and a 12 month high of $82.69. The company has a 50-day moving average price of $73.63 and a 200 day moving average price of $66.39. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.47.

Dayforce (NYSE:DAY) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.09). Dayforce had a net margin of 3.12% and a return on equity of 6.69%. Equities research analysts anticipate that Dayforce will post 1.07 earnings per share for the current year.

Insider Activity

In related news, CEO David D. Ossip sold 858,697 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $79.55, for a total transaction of $68,309,346.35. Following the completion of the transaction, the chief executive officer now owns 794,527 shares in the company, valued at $63,204,622.85. This represents a 51.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Stephen H. Holdridge sold 1,000 shares of Dayforce stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $71.33, for a total value of $71,330.00. Following the completion of the sale, the chief operating officer now owns 119,022 shares in the company, valued at approximately $8,489,839.26. The trade was a 0.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 860,697 shares of company stock worth $68,456,936 in the last quarter. Corporate insiders own 4.90% of the company’s stock.

Institutional Trading of Dayforce

Institutional investors have recently made changes to their positions in the company. Farther Finance Advisors LLC acquired a new position in Dayforce during the third quarter worth about $40,000. Quarry LP purchased a new position in Dayforce in the 3rd quarter worth approximately $51,000. Livforsakringsbolaget Skandia Omsesidigt acquired a new position in shares of Dayforce during the 3rd quarter worth approximately $74,000. Smartleaf Asset Management LLC grew 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 valued at $89,000 after purchasing an additional 501 shares in the last quarter. Finally, Blue Trust Inc. acquired a new stake in shares of Dayforce in the third quarter valued at approximately $91,000.

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.