Piper Sandler Cuts Dayforce (NYSE:DAY) Price Target to $68.00

Dayforce (NYSE:DAY) had its price objective decreased by stock analysts at Piper Sandler from $75.00 to $68.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Piper Sandler’s price objective points to a potential upside of 17.87% from the stock’s previous close.

Other analysts have also recently issued reports about the company. Needham & Company LLC reissued a “buy” rating and issued a $82.00 target price on shares of Dayforce in a research report on Thursday, February 8th. Barclays reduced their price objective on Dayforce from $75.00 to $74.00 and set an “equal weight” rating for the company in a research note on Thursday, February 8th.

Dayforce Trading Down 6.0 %

Shares of DAY stock opened at $57.69 on Thursday. The firm has a market capitalization of $8.97 billion, a P/E ratio of 164.83, a P/E/G ratio of 3.01 and a beta of 1.30. The stock’s fifty day moving average price is $64.94. 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 has a 12 month low of $54.84 and a 12 month high of $75.53.

Dayforce (NYSE:DAY) last released its quarterly earnings data on Wednesday, February 7th. The company reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.26. The business had revenue of $399.70 million for the quarter, compared to the consensus estimate of $400.14 million. Dayforce had a return on equity of 4.47% and a net margin of 3.62%. On average, equities analysts forecast that Dayforce will post 0.85 EPS for the current year.

Insider Activity

In other news, COO Christopher R. Armstrong sold 60,000 shares of the firm’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $69.14, for a total value of $4,148,400.00. Following the completion of the sale, 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 4.90% of the company’s stock.

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.