Dayforce (NYSE:DAY) Given New $62.00 Price Target at Barclays

Dayforce (NYSE:DAY) had its price objective lowered by Barclays from $74.00 to $62.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has an “equal weight” rating on the stock. Barclays‘s target price points to a potential upside of 11.69% from the stock’s current price.

Several other analysts have also commented on the stock. Needham & Company LLC reissued a “buy” rating and set a $82.00 price target on shares of Dayforce in a research report on Thursday. Piper Sandler cut their price objective on shares of Dayforce from $75.00 to $68.00 and set a “neutral” rating on the stock in a report on Thursday.

Dayforce Stock Down 3.8 %

NYSE:DAY traded down $2.18 during mid-day trading on Thursday, reaching $55.51. The company’s stock had a trading volume of 811,166 shares, compared to its average volume of 1,437,484. Dayforce has a 1 year low of $54.25 and a 1 year high of $75.53. The business’s fifty day simple moving average is $64.94. The stock has a market capitalization of $8.64 billion, a price-to-earnings ratio of 157.49, a PEG ratio of 3.01 and a beta of 1.30. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.12 and a quick ratio of 1.12.

Dayforce (NYSE:DAY) last released its quarterly earnings results on Wednesday, February 7th. The company reported $0.38 EPS for the quarter, beating the consensus estimate 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 3.62% and a return on equity of 4.47%. On average, analysts expect that Dayforce will post 0.85 earnings per share for the current year.

Insider Buying and Selling

In other news, COO Christopher R. Armstrong sold 60,000 shares of the firm’s stock in a transaction that occurred on 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 sale, 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 filing with the Securities & Exchange Commission, which is available through the SEC website. 4.90% of the stock is owned by corporate 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.