Dayforce (NYSE:DAY) Given New $68.00 Price Target at Piper Sandler

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

Several other equities analysts have also commented on the stock. Barclays lowered their price objective on shares of Dayforce from $75.00 to $74.00 and set an “equal weight” rating for the company in a research report on Thursday, February 8th. Needham & Company LLC reaffirmed a “buy” rating and issued a $82.00 price target on shares of Dayforce in a report on Thursday, February 8th.

Dayforce Price Performance

Shares of Dayforce stock traded down $0.44 during trading on Thursday, reaching $57.29. 1,725,027 shares of the stock traded hands, compared to its average volume of 1,755,743. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.07 and a quick ratio of 1.12. The firm 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. Dayforce has a 52-week low of $54.25 and a 52-week high of $75.53. The firm’s fifty day moving average price is $64.38.

Dayforce (NYSE:DAY) last released its quarterly earnings data 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 business had revenue of $399.70 million for the quarter, compared to the consensus estimate of $400.14 million. Dayforce had a return on equity of 5.38% and a net margin of 3.30%. On average, research analysts predict that Dayforce will post 0.87 earnings per share for the current fiscal year.

Insider Activity

In related news, COO Christopher R. Armstrong sold 60,000 shares of Dayforce stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $69.14, for a total transaction of $4,148,400.00. Following the completion of 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. 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.