Dayforce (NYSE:DAY) Price Target Cut to $75.00

Dayforce (NYSE:DAY) had its price target reduced by equities researchers at BMO Capital Markets from $82.00 to $75.00 in a research note issued on Monday, Benzinga reports. The firm currently has an “outperform” rating on the stock. BMO Capital Markets’ price objective would suggest a potential upside of 28.98% from the company’s previous close.

Other equities research analysts have also issued research reports about the stock. Needham & Company LLC restated a “buy” rating and issued a $82.00 target price on shares of Dayforce in a research note on Thursday. Mizuho decreased their target price on Dayforce from $95.00 to $80.00 and set a “buy” rating for the company in a research report on Monday. Piper Sandler dropped their price target on Dayforce from $75.00 to $68.00 and set a “neutral” rating on the stock in a research report on Thursday. William Blair restated an “outperform” rating on shares of Dayforce in a research note on Thursday. Finally, Barclays dropped their target price on shares of Dayforce from $74.00 to $62.00 and set an “equal weight” rating on the stock in a report on Thursday. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $73.40.

Dayforce Trading Up 1.5 %

Shares of DAY traded up $0.86 during mid-day trading on Monday, reaching $58.15. The company had a trading volume of 99,508 shares, compared to its average volume of 1,456,041. Dayforce has a fifty-two week low of $54.25 and a fifty-two week high of $75.53. The company’s fifty day simple moving average is $64.38. The firm has a market capitalization of $9.18 billion, a PE ratio of 177.16, a price-to-earnings-growth ratio of 3.89 and a beta of 1.30. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.07 and a current ratio of 1.07.

Dayforce (NYSE:DAY) last released its quarterly earnings data on Wednesday, February 7th. The company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.12 by $0.26. The company had revenue of $399.70 million for the quarter, compared to analyst estimates of $400.14 million. Dayforce had a return on equity of 5.38% and a net margin of 3.30%. As a group, equities analysts predict that Dayforce will post 0.89 EPS for the current fiscal year.

Insider Buying and Selling

In other news, COO Christopher R. Armstrong sold 60,000 shares of the business’s stock in a transaction 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 sale, the chief operating officer now owns 149,319 shares of the company’s stock, 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 link. Corporate insiders own 4.90% of the company’s stock.

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.