Dayforce (NYSE:DAY) Price Target Cut to $62.00

Dayforce (NYSE:DAY - Get Free Report) had its target price lowered by stock analysts at Barclays from $74.00 to $62.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has an "equal weight" rating on the stock. Barclays's price objective indicates a potential upside of 7.40% from the stock's current price.

Several other analysts have also commented on DAY. Needham & Company LLC reissued a "buy" rating and set a $82.00 target price on shares of Dayforce in a research note on Thursday. Piper Sandler lowered their price target on shares of Dayforce from $75.00 to $68.00 and set a "neutral" rating for the company in a research report on Thursday.

Dayforce Trading Up 0.1 %

NYSE:DAY traded up $0.04 during trading hours on Thursday, hitting $57.73. 3,292,428 shares of the stock were exchanged, compared to its average volume of 1,468,901. The firm has a market cap of $8.98 billion, a P/E ratio of 164.58, a P/E/G ratio of 3.01 and a beta of 1.30. The business's fifty day simple moving average is $64.94. Dayforce has a 52-week low of $54.25 and a 52-week high of $75.53. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.50.

Dayforce (NYSE:DAY - Get Free Report) last announced its earnings results on Wednesday, February 7th. The company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.26. The business had revenue of $399.70 million during the quarter, compared to the consensus estimate of $400.14 million. Dayforce had a net margin of 3.62% and a return on equity of 4.47%. Equities analysts expect that Dayforce will post 0.85 EPS for the current fiscal year.

Insider Activity at Dayforce

In other Dayforce news, COO Christopher R. Armstrong sold 60,000 shares of the firm's stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $69.14, for a total transaction of $4,148,400.00. Following the completion of the transaction, the chief operating officer now owns 149,319 shares in the company, valued at approximately $10,323,915.66. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 4.90% of the stock is currently owned by corporate insiders.

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.