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

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

DAY has been the topic of several other research reports. Piper Sandler cut their price objective on 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 set a $82.00 price objective on shares of Dayforce in a report on Thursday.

Dayforce Stock Performance

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

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

Insiders Place Their Bets

In other Dayforce news, COO Christopher R. Armstrong sold 60,000 shares of Dayforce stock in a transaction dated 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 transaction, the chief operating officer now directly owns 149,319 shares of the company’s stock, valued at approximately $10,323,915.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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.