Dayforce Inc (NYSE:DAY) Receives $73.40 Consensus Target Price from Analysts

Dayforce Inc (NYSE:DAY) has earned a consensus recommendation of “Moderate Buy” from the six research firms that are presently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $73.40.

A number of research firms have commented on DAY. William Blair reaffirmed an “outperform” rating on shares of Dayforce in a research report on Thursday, May 2nd. Barclays dropped 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, May 2nd. Needham & Company LLC reiterated a “buy” rating and set a $82.00 price objective on shares of Dayforce in a research report on Thursday, May 2nd. Piper Sandler dropped their target price on Dayforce from $75.00 to $68.00 and set a “neutral” rating on the stock in a research report on Thursday, May 2nd. Finally, BMO Capital Markets reduced their price target on shares of Dayforce from $82.00 to $75.00 and set an “outperform” rating for the company in a research report on Monday.

Insider Activity at Dayforce

In other Dayforce news, COO Christopher R. Armstrong sold 60,000 shares of the company’s stock in a transaction dated 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 $10,323,915.66. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 4.90% of the stock is owned by company insiders.

Dayforce Stock Performance

Shares of NYSE:DAY opened at $58.96 on Monday. The stock has a 50-day simple moving average of $63.62. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.50. The stock has a market cap of $9.31 billion, a price-to-earnings ratio of 178.67, a price-to-earnings-growth ratio of 3.89 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.

Dayforce (NYSE:DAY) last released its quarterly earnings data on Wednesday, February 7th. The company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.26. The firm had revenue of $399.70 million during 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%. As a group, research analysts predict that Dayforce will post 0.89 earnings per share for the current year.

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.