Dayforce (NYSE:DAY) Price Target Cut to $68.00

Dayforce (NYSE:DAY) had its target price dropped by investment analysts at Piper Sandler from $75.00 to $68.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Piper Sandler’s price objective suggests a potential upside of 18.69% from the company’s previous close.

Other equities research analysts also recently issued reports about the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $82.00 price target on shares of Dayforce in a research note on Thursday, February 8th. Barclays decreased their target price on Dayforce from $75.00 to $74.00 and set an “equal weight” rating for the company in a research report on Thursday, February 8th.

Dayforce Price Performance

Shares of Dayforce stock traded down $0.44 on Thursday, hitting $57.29. 1,725,027 shares of the company’s stock traded hands, compared to its average volume of 1,755,743. The company has a market cap of $9.05 billion, a P/E ratio of 173.70, a price-to-earnings-growth ratio of 2.76 and a beta of 1.30. The firm’s fifty day moving average price is $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 one year low of $54.25 and a one year high of $75.53.

Dayforce (NYSE:DAY) last posted its quarterly earnings results on Wednesday, February 7th. The company reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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%. Equities research analysts anticipate that Dayforce will post 0.87 earnings per share for the current year.

Insider Buying and Selling 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 shares were 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 approximately $10,323,915.66. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 4.90% of the stock is currently owned by company insiders.

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.