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

Needham & Company LLC reiterated their buy rating on shares of Dayforce (NYSE:DAY) in a research report released on Thursday, Benzinga reports. They currently have a $82.00 price target on the stock.

Several other analysts also recently commented on DAY. Piper Sandler lowered their price objective on Dayforce from $75.00 to $68.00 and set a neutral rating for the company in a research note on Thursday. Barclays dropped their price objective on Dayforce from $75.00 to $74.00 and set an equal weight rating on the stock in a research note on Thursday, February 8th.

Dayforce Price Performance

Shares of DAY traded down $0.44 during trading hours on Thursday, hitting $57.29. The stock had a trading volume of 1,725,027 shares, compared to its average volume of 1,755,743. The firm has a market cap of $9.05 billion, a price-to-earnings ratio of 173.70, a P/E/G ratio of 2.76 and a beta of 1.30. Dayforce has a 1-year low of $54.25 and a 1-year high of $75.53. The business’s 50 day moving average is $64.38. The company has a quick ratio of 1.12, a current ratio of 1.07 and a debt-to-equity ratio of 0.50.

Dayforce (NYSE:DAY) last released its quarterly earnings data on Wednesday, February 7th. The company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.26. The firm had revenue of $399.70 million for the quarter, compared to analyst estimates of $400.14 million. Dayforce had a net margin of 3.30% and a return on equity of 5.38%. Equities analysts predict that Dayforce will post 0.87 EPS for the current fiscal year.

Insider Activity

In other 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 transaction of $4,148,400.00. Following the completion of the sale, the chief operating officer now directly owns 149,319 shares of the company’s stock, valued at approximately $10,323,915.66. The sale was disclosed in a legal filing with the SEC, which is available at 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.