Dayforce (NYSE:DAY) Price Target Lowered to $60.00 at Wells Fargo & Company

Dayforce (NYSE:DAY - Get Free Report) had its price target lowered by analysts at Wells Fargo & Company from $70.00 to $60.00 in a report issued on Tuesday,Benzinga reports. The firm presently has an "equal weight" rating on the stock. Wells Fargo & Company's price objective indicates a potential upside of 3.77% from the stock's current price.

DAY has been the topic of a number of other research reports. Mizuho lowered their price objective on Dayforce from $95.00 to $80.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. Barclays decreased their price target on Dayforce from $69.00 to $61.00 and set an "equal weight" rating on the stock in a research report on Monday, April 21st. Citigroup cut their price objective 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. Piper Sandler reissued an "overweight" rating and issued a $83.00 target price (down from $94.00) on shares of Dayforce in a report on Wednesday, February 5th. Finally, Jefferies Financial Group reduced their price target on shares of Dayforce from $80.00 to $75.00 and set a "hold" rating on the stock in a research report on Thursday, February 6th. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $74.86.

Dayforce Stock Performance

Shares of DAY stock traded up $0.55 on Tuesday, hitting $57.82. The company's stock had a trading volume of 1,232,792 shares, compared to its average volume of 1,757,794. Dayforce has a fifty-two week low of $47.08 and a fifty-two week high of $82.69. The company has a market capitalization of $9.15 billion, a PE ratio of 525.68, a PEG ratio of 2.49 and a beta of 1.20. The stock's 50 day moving average is $57.20 and its 200-day moving average is $67.07. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.15 and a current ratio of 1.13.

Dayforce (NYSE:DAY - Get Free Report) last announced its earnings results on Wednesday, February 5th. The company reported $0.37 earnings per share (EPS) 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%. Equities research analysts expect that Dayforce will post 1.48 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP William Everett Mcdonald sold 2,000 shares of the firm's stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $56.16, for a total transaction of $112,320.00. Following the completion of the transaction, the executive vice president now owns 105,691 shares of the company's stock, valued at approximately $5,935,606.56. This trade represents a 1.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 4.50% of the company's stock.

Institutional Trading of Dayforce

A number of institutional investors and hedge funds have recently bought and sold shares of DAY. Principal Financial Group Inc. bought a new stake in shares of Dayforce in the 3rd quarter valued at about $11,135,000. Smartleaf Asset Management LLC lifted its stake in shares of Dayforce by 69.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,227 shares of the company's stock worth $89,000 after acquiring an additional 501 shares during the period. Retirement Systems of Alabama bought a new stake in Dayforce in the third quarter valued at approximately $2,105,000. SG Americas Securities LLC increased its position in Dayforce by 167.7% during the 4th quarter. SG Americas Securities LLC now owns 19,322 shares of the company's stock valued at $1,404,000 after purchasing an additional 12,103 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in Dayforce by 31.8% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,028 shares of the company's stock valued at $1,398,000 after purchasing an additional 4,596 shares during the period.

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.