Dayforce (NYSE:DAY) Shares Down 5.3%

Dayforce Inc (NYSE:DAY) traded down 5.3% during trading on Friday . The stock traded as low as $57.20 and last traded at $57.60. 262,378 shares traded hands during mid-day trading, a decline of 82% from the average session volume of 1,453,710 shares. The stock had previously closed at $60.80.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Piper Sandler Companies reissued a “neutral” rating and issued a $68.00 price objective on shares of Dayforce in a report on Friday, May 17th. BMO Capital Markets cut their price target on Dayforce from $82.00 to $75.00 and set an “outperform” rating for the company in a report on Monday, May 6th. Needham & Company LLC reaffirmed a “buy” rating and set a $82.00 price target on shares of Dayforce in a report on Thursday, May 2nd. Mizuho lowered their price objective on Dayforce from $95.00 to $80.00 and set a “buy” rating on the stock in a research report on Monday, May 6th. Finally, Piper Sandler reiterated a “neutral” rating and set a $68.00 price objective on shares of Dayforce in a research report on Thursday, May 16th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Dayforce currently has a consensus rating of “Moderate Buy” and an average price target of $72.50.

Dayforce Price Performance

The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.50. The company has a market cap of $9.13 billion, a P/E ratio of 184.25, a P/E/G ratio of 4.34 and a beta of 1.30. The firm has a 50-day simple moving average of $62.46.

Dayforce (NYSE:DAY) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.02). Dayforce had a return on equity of 5.38% and a net margin of 3.30%. The company had revenue of $431.50 million during the quarter, compared to the consensus estimate of $426.15 million. Sell-side analysts predict that Dayforce Inc will post 0.88 EPS for the current 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 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company 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.