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

Dayforce (NYSE:DAY) had its target price decreased by stock analysts at BMO Capital Markets from $82.00 to $75.00 in a report released on Monday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. BMO Capital Markets’ price target indicates a potential upside of 28.98% from the stock’s current price.

Other equities research analysts also recently issued reports about the stock. Piper Sandler cut their target price on shares of Dayforce from $75.00 to $68.00 and set a “neutral” rating on the stock in a research note on Thursday. Needham & Company LLC reaffirmed a “buy” rating and set a $82.00 price objective on shares of Dayforce in a research report on Thursday. William Blair reissued an “outperform” rating on shares of Dayforce in a report 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 note on Monday. Finally, Barclays cut their price target on shares of Dayforce from $74.00 to $62.00 and set an “equal weight” rating on the stock in a research note on Thursday. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $73.40.

Dayforce Price Performance

DAY traded up $0.86 during trading hours on Monday, reaching $58.15. The company’s stock 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 business has a 50-day moving average of $64.38. The stock has a market cap of $9.18 billion, a PE ratio of 177.16, a PEG ratio of 3.89 and a beta of 1.30. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.50.

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

Insider Activity at Dayforce

In related news, COO Christopher R. Armstrong sold 60,000 shares of the firm’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $69.14, for a total transaction of $4,148,400.00. Following the sale, the chief operating officer now directly owns 149,319 shares in the company, valued at approximately $10,323,915.66. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company 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.