BMO Capital Markets Cuts Dayforce (NYSE:DAY) Price Target to $75.00

Dayforce (NYSE:DAY) had its price target lowered by BMO Capital Markets from $82.00 to $75.00 in a research note published on Monday, Benzinga reports. The brokerage currently has an outperform rating on the stock.

Several other research firms have also commented on DAY. William Blair reissued an outperform rating on shares of Dayforce in a research report on Thursday, May 2nd. Mizuho lowered their price objective on shares of Dayforce from $95.00 to $80.00 and set a buy rating for the company in a research note on Monday. Needham & Company LLC reissued a buy rating and issued a $82.00 target price on shares of Dayforce in a research report on Thursday, May 2nd. Barclays lowered their price target on Dayforce from $74.00 to $62.00 and set an equal weight rating for the company in a research report on Thursday, May 2nd. Finally, 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, May 2nd. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of $73.40.

Dayforce Trading Up 0.3 %

Shares of DAY stock opened at $59.15 on Monday. Dayforce has a twelve month low of $54.25 and a twelve month high of $75.53. 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 fifty day moving average price of $63.41. The stock has a market cap of $9.34 billion, a PE ratio of 179.25, a price-to-earnings-growth ratio of 3.89 and a beta of 1.30.

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. Dayforce had a return on equity of 5.38% and a net margin of 3.30%. The firm had revenue of $399.70 million during the quarter, compared to the consensus estimate of $400.14 million. Research analysts predict that Dayforce will post 0.89 EPS for the current fiscal year.

Insider Buying and Selling at Dayforce

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 completion of the transaction, 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 document filed with the Securities & Exchange Commission, which is accessible through this link. 4.90% of the stock is owned by corporate insiders.

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.