KeyCorp Cuts Dayforce (NYSE:DAY) Price Target to $65.00

Dayforce (NYSE:DAY) had its price objective trimmed by KeyCorp from $80.00 to $65.00 in a report released on Tuesday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other equities research analysts also recently issued reports on DAY. Citigroup dropped their price target on shares of Dayforce from $90.00 to $83.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. TD Cowen upgraded 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. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $80.00 price target (down from $85.00) on shares of Dayforce in a report on Wednesday, January 8th. Stifel Nicolaus lowered their price objective on shares of Dayforce from $90.00 to $85.00 and set a “buy” rating for the company in a research report on Thursday, February 6th. Finally, Scotiabank decreased their target price 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. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $74.86.

Dayforce Trading Up 3.0 %

Shares of DAY stock opened at $57.23 on Tuesday. Dayforce has a fifty-two week low of $47.08 and a fifty-two week high of $82.69. The firm’s 50 day moving average price is $57.39 and its two-hundred day moving average price is $67.05. The stock has a market cap of $9.06 billion, a price-to-earnings ratio of 520.32, a price-to-earnings-growth ratio of 2.49 and a beta of 1.20. The company has a quick ratio of 1.15, a current ratio of 1.13 and a debt-to-equity ratio of 0.47.

Dayforce (NYSE:DAY) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.09). Dayforce had a net margin of 1.03% and a return on equity of 6.49%. On average, analysts anticipate that Dayforce will post 1.48 EPS for the current year.

Insider Activity at Dayforce

In other Dayforce news, EVP William Everett Mcdonald sold 2,000 shares of the company’s stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $56.16, for a total value of $112,320.00. Following the transaction, the executive vice president now owns 105,691 shares of the company’s stock, valued at approximately $5,935,606.56. This represents a 1.86 % 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. Company insiders own 4.50% of the company’s stock.

Hedge Funds Weigh In On Dayforce

A number of hedge funds have recently modified their holdings of the stock. FMR LLC lifted its stake in Dayforce by 382.5% during the fourth quarter. FMR LLC now owns 3,215,123 shares of the company’s stock valued at $233,547,000 after buying an additional 2,548,779 shares in the last quarter. Capital International Investors grew its stake in Dayforce by 3.9% during the 4th quarter. Capital International Investors now owns 17,659,706 shares of the company’s stock valued at $1,282,800,000 after acquiring an additional 667,065 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Dayforce by 18,250.4% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 660,613 shares of the company’s stock valued at $47,890,000 after purchasing an additional 657,013 shares during the period. California Public Employees Retirement System boosted its holdings in shares of Dayforce by 189.0% during the fourth quarter. California Public Employees Retirement System now owns 567,561 shares of the company’s stock worth $41,228,000 after purchasing an additional 371,153 shares during the period. Finally, Northern Trust Corp boosted its stake in shares of Dayforce by 21.5% during the 4th quarter. Northern Trust Corp now owns 1,544,475 shares of the company’s stock valued at $112,191,000 after buying an additional 273,031 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.