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 issued on Monday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. BMO Capital Markets’ price target suggests a potential upside of 26.73% from the stock’s current price.

Several other equities research analysts also recently weighed in on DAY. Piper Sandler dropped their target price on shares of Dayforce from $75.00 to $68.00 and set a “neutral” rating for the company in a research report on Thursday, May 2nd. Needham & Company LLC reaffirmed a “buy” rating and set a $82.00 target price on shares of Dayforce in a report on Thursday, May 2nd. William Blair reiterated an “outperform” rating on shares of Dayforce in a research report on Thursday, May 2nd. Mizuho dropped their price target on Dayforce from $95.00 to $80.00 and set a “buy” rating on the stock in a research report on Monday. Finally, Barclays decreased their price objective on shares of Dayforce from $74.00 to $62.00 and set an “equal weight” rating for the company in a report on Thursday, May 2nd. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $73.40.

Dayforce Price Performance

NYSE:DAY opened at $59.18 on Monday. Dayforce has a 12 month low of $54.25 and a 12 month high of $75.53. The firm has a 50-day moving average of $63.86. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $9.34 billion, a price-to-earnings ratio of 179.34, a PEG ratio of 3.89 and a beta of 1.30.

Dayforce (NYSE:DAY) last released its quarterly earnings results on Wednesday, February 7th. The company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.26. The business had revenue of $399.70 million during the quarter, compared to analyst estimates of $400.14 million. Dayforce had a net margin of 3.30% and a return on equity of 5.38%. Equities analysts anticipate that Dayforce will post 0.89 EPS for the current year.

Insider Buying and Selling at Dayforce

In other Dayforce news, COO Christopher R. Armstrong sold 60,000 shares of the stock in a transaction that occurred on 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 completion of the sale, the chief operating officer now owns 149,319 shares in the company, valued at approximately $10,323,915.66. The transaction was disclosed in a legal filing with the SEC, which can be accessed 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.