William Blair Reiterates “Outperform” Rating for Dayforce (NYSE:DAY)

William Blair reiterated their outperform rating on shares of Dayforce (NYSE:DAY) in a report released on Thursday, Zacks.com reports.

Other research analysts have also recently issued reports about the company. Needham & Company LLC reaffirmed a buy rating and set a $82.00 price objective on shares of Dayforce in a research note on Thursday. Barclays decreased their price target on Dayforce from $74.00 to $62.00 and set an equal weight rating on the stock in a research note on Thursday. Finally, Piper Sandler dropped their price objective on Dayforce from $75.00 to $68.00 and set a neutral rating for the company in a research note on Thursday.

Dayforce Stock Performance

Dayforce stock opened at $57.29 on Thursday. Dayforce has a fifty-two week low of $54.25 and a fifty-two week high of $75.53. The stock has a fifty day moving average price of $64.38. The company has a current ratio of 1.07, a quick ratio of 1.12 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $9.05 billion, a PE ratio of 173.61, a P/E/G ratio of 2.74 and a beta of 1.30.

Dayforce (NYSE:DAY) last announced its earnings results on Wednesday, February 7th. The company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.26. The company had revenue of $399.70 million during the quarter, compared to analyst estimates of $400.14 million. Dayforce had a net margin of 3.30% and a return on equity of 5.38%. Sell-side analysts predict that Dayforce will post 0.89 earnings per share for the current year.

Insider Activity at Dayforce

In other Dayforce news, COO Christopher R. Armstrong sold 60,000 shares of the stock in a transaction that occurred on Friday, March 22nd. The stock was 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 SEC, which is available at this link. 4.90% of the stock is owned by company 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.