Dayforce (NYSE:DAY) Receives Hold Rating from Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft restated their hold rating on shares of Dayforce (NYSE:DAY) in a report published on Wednesday, Marketbeat Ratings reports. Deutsche Bank Aktiengesellschaft currently has a $80.00 target price on the stock, down from their previous target price of $85.00.

A number of other analysts have also issued reports on DAY. KeyCorp increased their target price on Dayforce from $80.00 to $92.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Jefferies Financial Group raised their price objective on Dayforce from $55.00 to $65.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. Needham & Company LLC lifted their target price on Dayforce from $82.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. TD Cowen raised their price target on shares of Dayforce from $58.00 to $62.00 and gave the stock a “hold” rating in a report on Monday, October 7th. Finally, BMO Capital Markets increased their target price on shares of Dayforce from $80.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $80.21.

Dayforce Stock Performance

Shares of DAY opened at $69.93 on Wednesday. The company has a 50-day moving average of $76.52 and a two-hundred day moving average of $63.70. The stock has a market cap of $11.03 billion, a price-to-earnings ratio of 211.92, a PEG ratio of 3.68 and a beta of 1.26. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.15 and a quick ratio of 1.15. Dayforce has a one year low of $47.08 and a one year high of $82.69.

Insider Buying and Selling

In related news, CEO David D. Ossip sold 858,697 shares of the business’s stock in a transaction dated Tuesday, November 26th. The stock was 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 of the company’s stock, valued at approximately $63,204,622.85. The trade was a 51.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Stephen H. Holdridge sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $63.37, for a total value of $63,370.00. Following the completion of the sale, the chief operating officer now directly owns 101,437 shares in the company, valued at $6,428,062.69. This trade represents a 0.98 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 865,340 shares of company stock worth $68,770,223. 4.90% of the stock is currently owned by insiders.

Institutional Trading of Dayforce

A number of hedge funds have recently bought and sold shares of the stock. Select Equity Group L.P. acquired a new position in shares of Dayforce during the second quarter valued at about $721,310,000. Principal Financial Group Inc. bought a new position in Dayforce during the third quarter valued at about $11,135,000. KBC Group NV bought a new position in Dayforce during the third quarter valued at about $946,000. Adero Partners LLC bought a new stake in shares of Dayforce in the 3rd quarter worth approximately $4,987,000. Finally, Sumitomo Mitsui Trust Group Inc. acquired a new stake in shares of Dayforce during the 3rd quarter worth approximately $19,273,000.

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.