Dayforce (NYSE:DAY) Price Target Cut to $62.00

Dayforce (NYSE:DAY) had its target price trimmed by Barclays from $74.00 to $62.00 in a research note released on Thursday morning, Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Several other research firms have also recently weighed in on DAY. Piper Sandler decreased their price target on shares of Dayforce from $75.00 to $68.00 and set a neutral rating on the stock in a report on Thursday. Needham & Company LLC reissued a buy rating and issued a $82.00 target price on shares of Dayforce in a research note on Thursday.

Dayforce Stock Performance

Dayforce stock opened at $57.29 on Thursday. 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 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.

Dayforce (NYSE:DAY) last released its quarterly earnings results on Wednesday, February 7th. The company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.26. The firm had revenue of $399.70 million for the quarter, compared to analysts’ expectations 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 related news, COO Christopher R. Armstrong sold 60,000 shares of the 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 transaction, the chief operating officer now owns 149,319 shares of the company’s stock, valued at $10,323,915.66. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 4.90% of the stock is owned by insiders.

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.