Dayforce’s (DAY) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Dayforce (NYSE:DAY) in a research note published on Thursday, Benzinga reports. They currently have a $82.00 price objective on the stock.

Several other equities research analysts have also recently commented on DAY. Piper Sandler cut their target price on Dayforce from $75.00 to $68.00 and set a neutral rating on the stock in a research note on Thursday. Barclays cut their target price on Dayforce from $75.00 to $74.00 and set an equal weight rating on the stock in a research note on Thursday, February 8th.

Dayforce Stock Performance

NYSE DAY opened at $57.29 on Thursday. The company has a market cap of $9.05 billion, a PE ratio of 173.61, a price-to-earnings-growth ratio of 2.74 and a beta of 1.30. The company has a 50 day moving average price of $64.38. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.07 and a quick ratio of 1.12. Dayforce has a 52 week low of $54.25 and a 52 week high of $75.53.

Dayforce (NYSE:DAY) last released its earnings results on Wednesday, February 7th. The company reported $0.38 EPS for the quarter, beating 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 return on equity of 5.38% and a net margin of 3.30%. On average, equities research analysts forecast that Dayforce will post 0.89 EPS for the current year.

Insider Transactions at Dayforce

In other news, COO Christopher R. Armstrong sold 60,000 shares of the company’s stock in a transaction that occurred on 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 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 available at the SEC website. Company 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.