Piper Sandler Lowers Dayforce (NYSE:DAY) Price Target to $68.00

Dayforce (NYSE:DAY) had its target price lowered by stock analysts at Piper Sandler from $75.00 to $68.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Piper Sandler’s price objective suggests a potential upside of 17.87% from the stock’s previous close.

Several other brokerages have also recently issued reports on DAY. Barclays dropped their target price on Dayforce from $75.00 to $74.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 8th. Needham & Company LLC reaffirmed a “buy” rating and set a $82.00 price objective on shares of Dayforce in a research report on Thursday, February 8th.

Dayforce Stock Down 6.0 %

Shares of NYSE:DAY opened at $57.69 on Thursday. 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 moving average price of $64.94. The company has a market capitalization of $8.97 billion, a PE ratio of 164.83, a P/E/G ratio of 3.01 and a beta of 1.30. Dayforce has a 52-week low of $54.84 and a 52-week high of $75.53.

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. The business had revenue of $399.70 million for the quarter, compared to the consensus estimate of $400.14 million. Dayforce had a return on equity of 4.47% and a net margin of 3.62%. On average, sell-side analysts anticipate that Dayforce will post 0.85 EPS for the current fiscal year.

Insider Activity

In related news, COO Christopher R. Armstrong sold 60,000 shares of the business’s stock in a transaction on 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 approximately $10,323,915.66. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 4.90% of the company’s stock.

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.