Dayforce (NYSE:DAY) Reaches New 12-Month High – Here’s What Happened

Shares of Dayforce Inc (NYSE:DAY) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $81.03 and last traded at $81.02, with a volume of 631877 shares changing hands. The stock had previously closed at $80.95.

Analyst Ratings Changes

Several research firms recently issued reports on DAY. TD Cowen boosted their target price on shares of Dayforce from $58.00 to $62.00 and gave the company a “hold” rating in a report on Monday, October 7th. Mizuho boosted their target price on shares of Dayforce from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Piper Sandler boosted their target price on shares of Dayforce from $71.00 to $82.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Citigroup upped their price objective on shares of Dayforce from $75.00 to $81.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, Needham & Company LLC reiterated a “buy” rating and set a $82.00 price objective on shares of Dayforce in a report on Thursday, October 31st. Five research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Dayforce has an average rating of “Moderate Buy” and an average price target of $72.67.

Dayforce Trading Up 0.6 %

The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.47. The firm’s 50-day moving average price is $63.22 and its 200 day moving average price is $57.58. The company has a market capitalization of $12.80 billion, a P/E ratio of 245.89, a P/E/G ratio of 3.52 and a beta of 1.27.

Insider Transactions at Dayforce

In other news, COO Stephen H. Holdridge sold 1,000 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $77.00, for a total transaction of $77,000.00. Following the completion of the sale, the chief operating officer now directly owns 122,022 shares of the company’s stock, valued at $9,395,694. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Dayforce news, insider Jeffrey Scott Jacobs sold 643 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $63.37, for a total value of $40,746.91. Following the completion of the sale, the insider now owns 34,074 shares in the company, valued at approximately $2,159,269.38. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Stephen H. Holdridge sold 1,000 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $77.00, for a total transaction of $77,000.00. Following the completion of the sale, the chief operating officer now owns 122,022 shares of the company’s stock, valued at approximately $9,395,694. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,643 shares of company stock valued at $384,617 over the last three months. Corporate insiders own 4.90% of the company’s stock.

Institutional Investors Weigh In On Dayforce

Several institutional investors and hedge funds have recently added to or reduced their stakes in DAY. Quent Capital LLC purchased a new stake in shares of Dayforce during the 3rd quarter worth approximately $28,000. Financial Perspectives Inc purchased a new stake in shares of Dayforce during the 2nd quarter worth approximately $28,000. Farther Finance Advisors LLC purchased a new stake in shares of Dayforce during the 3rd quarter worth approximately $40,000. Sentry Investment Management LLC purchased a new stake in shares of Dayforce during the 2nd quarter worth approximately $33,000. Finally, Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in shares of Dayforce during the 3rd quarter worth approximately $74,000.

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.