Barclays Cuts Dayforce (NYSE:DAY) Price Target to $61.00

Dayforce (NYSE:DAY - Get Free Report) had its price target reduced by equities researchers at Barclays from $69.00 to $61.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has an "equal weight" rating on the stock. Barclays's price target would suggest a potential upside of 5.50% from the company's current price.

DAY has been the topic of several other research reports. Piper Sandler reiterated an "overweight" rating and issued a $83.00 price target (down previously from $94.00) on shares of Dayforce in a report on Wednesday, February 5th. Citigroup reduced their price target on shares of Dayforce from $90.00 to $83.00 and set a "buy" rating for the company in a research report on Thursday, January 16th. Stifel Nicolaus lowered their price objective on shares of Dayforce from $90.00 to $85.00 and set a "buy" rating on the stock in a report on Thursday, February 6th. Needham & Company LLC reiterated a "buy" rating and set a $95.00 price objective on shares of Dayforce in a report on Thursday, February 6th. Finally, TD Cowen upgraded shares of Dayforce from a "hold" rating to a "buy" rating and upped their target price for the stock from $67.00 to $68.00 in a report on Friday, March 7th. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $74.86.

Dayforce Trading Up 1.0 %

Shares of DAY traded up $0.55 during trading hours on Monday, hitting $57.82. 1,232,792 shares of the stock were exchanged, compared to its average volume of 1,754,699. Dayforce has a fifty-two week low of $47.08 and a fifty-two week high of $82.69. The business has a 50-day moving average of $57.20 and a 200-day moving average of $67.03. The firm has a market capitalization of $9.15 billion, a P/E ratio of 525.68, a price-to-earnings-growth ratio of 2.49 and a beta of 1.20. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.13 and a quick ratio of 1.15.

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

Insider Buying and Selling at Dayforce

In other Dayforce news, EVP William Everett Mcdonald sold 2,000 shares of the company's stock in a transaction dated 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 directly owns 105,691 shares in the company, valued at $5,935,606.56. This represents a 1.86 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 4.50% of the company's stock.

Institutional Trading of Dayforce

Several institutional investors and hedge funds have recently made changes to their positions in DAY. Harvest Fund Management Co. Ltd purchased a new position in shares of Dayforce during the fourth quarter worth approximately $61,000. Mather Group LLC. raised its position in Dayforce by 196.9% during the 1st quarter. Mather Group LLC. now owns 962 shares of the company's stock valued at $56,000 after purchasing an additional 638 shares during the last quarter. Federated Hermes Inc. purchased a new stake in Dayforce in the fourth quarter worth $72,000. AlphaQuest LLC increased its position in shares of Dayforce by 14,800.0% during the fourth quarter. AlphaQuest LLC now owns 1,043 shares of the company's stock valued at $76,000 after buying an additional 1,036 shares during the period. Finally, Smartleaf Asset Management LLC boosted its position in Dayforce by 69.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,227 shares of the company's stock valued at $89,000 after acquiring an additional 501 shares in the last quarter.

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.