KeyCorp Forecasts Strong Price Appreciation for Dayforce (NYSE:DAY) Stock

Dayforce (NYSE:DAY) had its target price upped by KeyCorp from $80.00 to $92.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. KeyCorp’s price objective suggests a potential upside of 19.85% from the company’s current price.

A number of other equities analysts also recently weighed in on the company. Jefferies Financial Group upped their price target on Dayforce from $55.00 to $65.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. Citigroup raised their target price on shares of Dayforce from $75.00 to $81.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Barclays boosted their price target on shares of Dayforce from $70.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Needham & Company LLC raised their price objective on Dayforce from $82.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Piper Sandler reiterated an “overweight” rating and set a $94.00 target price (up previously from $82.00) on shares of Dayforce in a report on Wednesday. Five 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 company currently has a consensus rating of “Moderate Buy” and an average target price of $79.08.

Dayforce Stock Performance

Shares of Dayforce stock opened at $76.76 on Wednesday. Dayforce has a 12 month low of $47.08 and a 12 month high of $81.32. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $12.11 billion, a PE ratio of 232.61, a PEG ratio of 3.62 and a beta of 1.27. The stock’s fifty day simple moving average is $64.59 and its 200 day simple moving average is $57.96.

Insider Buying and Selling

In related news, COO Stephen H. Holdridge sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The stock was 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 approximately $6,428,062.69. The trade was a 0.98 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jeffrey Scott Jacobs sold 643 shares of the firm’s stock in a transaction on 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. This trade represents a 1.85 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,643 shares of company stock valued at $384,617. Company insiders own 4.90% of the company’s stock.

Institutional Trading of Dayforce

Large investors have recently bought and sold shares of the business. Select Equity Group L.P. bought a new stake in shares of Dayforce during the 2nd quarter valued at approximately $721,310,000. Elo Mutual Pension Insurance Co bought a new stake in shares of Dayforce during the second quarter worth $673,000. State of New Jersey Common Pension Fund D acquired a new position in shares of Dayforce during the second quarter worth $2,760,000. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Dayforce during the 2nd quarter valued at $663,000. Finally, Royal London Asset Management Ltd. acquired a new position in Dayforce in the 2nd quarter worth about $2,942,000.

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.