Dayforce’s (DAY) “Buy” Rating Reiterated at Needham & Company LLC

Dayforce (NYSE:DAY)‘s stock had its “buy” rating reaffirmed by investment analysts at Needham & Company LLC in a report issued on Thursday, Benzinga reports. They currently have a $82.00 price objective on the stock. Needham & Company LLC’s price objective would suggest a potential upside of 42.14% from the stock’s current price.

Several other research firms have also recently commented on DAY. Barclays lowered their price target on shares of Dayforce from $75.00 to $74.00 and set an “equal weight” rating on the stock in a report on Thursday, February 8th. Piper Sandler lowered their target price on Dayforce from $75.00 to $68.00 and set a “neutral” rating on the stock in a research note on Thursday.

Dayforce Trading Down 6.0 %

Shares of Dayforce stock opened at $57.69 on Thursday. Dayforce has a 1 year low of $54.84 and a 1 year high of $75.53. The stock has a market cap of $8.97 billion, a P/E ratio of 164.83, a P/E/G ratio of 3.01 and a beta of 1.30. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.12 and a current ratio of 1.12. The business has a 50-day simple moving average of $64.94.

Dayforce (NYSE:DAY) last posted its quarterly 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. Dayforce had a net margin of 3.62% and a return on equity of 4.47%. The business had revenue of $399.70 million during the quarter, compared to analyst estimates of $400.14 million. On average, equities analysts forecast that Dayforce will post 0.85 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Dayforce news, COO Christopher R. Armstrong sold 60,000 shares of the firm’s 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 in the company, valued at $10,323,915.66. The transaction was disclosed in a filing with the SEC, which is available through this link. 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.