Dayforce’s (DAY) Overweight Rating Reiterated at Piper Sandler

Piper Sandler reaffirmed their overweight rating on shares of Dayforce (NYSE:DAY) in a research report sent to investors on Wednesday morning,Benzinga reports. The firm currently has a $94.00 target price on the stock, up from their previous target price of $82.00.

DAY has been the topic of several other reports. Mizuho upped their price target on Dayforce from $85.00 to $95.00 and gave the company an “outperform” rating in a research report on Wednesday. TD Cowen increased their target price on shares of Dayforce from $58.00 to $62.00 and gave the stock a “hold” rating in a research note on Monday, October 7th. BMO Capital Markets boosted their price target on shares of Dayforce from $80.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday. Needham & Company LLC increased their price objective on Dayforce from $82.00 to $95.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Barclays lifted their price objective on Dayforce from $63.00 to $70.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $79.08.

Dayforce Stock Performance

NYSE:DAY opened at $74.56 on Wednesday. The business’s fifty day moving average is $65.44 and its 200 day moving average is $58.17. The firm has a market cap of $11.76 billion, a price-to-earnings ratio of 225.95, a PEG ratio of 3.62 and a beta of 1.27. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.15 and a current ratio of 1.15. Dayforce has a 52-week low of $47.08 and a 52-week high of $81.32.

Insiders Place Their Bets

In other news, insider Jeffrey Scott Jacobs sold 643 shares of Dayforce stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $63.37, for a total value of $40,746.91. Following the transaction, the insider now owns 34,074 shares in the company, valued at approximately $2,159,269.38. The trade was a 1.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Stephen H. Holdridge sold 1,000 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 $63,370.00. Following the sale, the chief operating officer now owns 101,437 shares of the company’s stock, valued at $6,428,062.69. This represents a 0.98 % decrease in their ownership of the stock. 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 quarter. 4.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Dayforce

Large investors have recently bought and sold shares of the stock. Candriam S.C.A. bought a new position in shares of Dayforce in the second quarter worth approximately $6,027,000. New Mexico Educational Retirement Board purchased a new stake in Dayforce during the 2nd quarter valued at $392,000. Acadian Asset Management LLC bought a new stake in Dayforce in the 2nd quarter worth $287,000. Prudential PLC purchased a new position in shares of Dayforce in the second quarter valued at about $490,000. Finally, Texas Permanent School Fund Corp bought a new position in shares of Dayforce during the second quarter valued at about $1,281,000.

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.