Needham & Company LLC Reaffirms Buy Rating for Dayforce (NYSE:DAY)

Dayforce (NYSE:DAY)‘s stock had its “buy” rating restated by research analysts at Needham & Company LLC in a research note issued on Thursday, Benzinga reports. They currently have a $82.00 price objective on the stock. Needham & Company LLC’s price target points to a potential upside of 42.14% from the company’s current price.

DAY has been the topic of several other research reports. Piper Sandler decreased their target price on Dayforce from $75.00 to $68.00 and set a “neutral” rating on the stock in a research report on Thursday. Barclays decreased their price objective on Dayforce from $75.00 to $74.00 and set an “equal weight” rating on the stock in a report on Thursday, February 8th.

Dayforce Price Performance

DAY stock opened at $57.69 on Thursday. Dayforce has a one year low of $54.84 and a one year high of $75.53. The company has a market capitalization of $8.97 billion, a PE ratio of 164.83, a price-to-earnings-growth ratio of 3.01 and a beta of 1.30. The stock’s fifty day moving average is $64.94. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.12 and a current ratio of 1.12.

Dayforce (NYSE:DAY) last posted its earnings results 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 company had revenue of $399.70 million during the quarter, compared to analysts’ expectations of $400.14 million. Dayforce had a net margin of 3.62% and a return on equity of 4.47%. Research analysts anticipate that Dayforce will post 0.85 EPS for the current fiscal year.

Insider Activity at Dayforce

In related news, COO Christopher R. Armstrong sold 60,000 shares of the firm’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $69.14, for a total value of $4,148,400.00. Following the transaction, the chief operating officer now owns 149,319 shares in the company, valued at $10,323,915.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.90% of the stock is currently 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.