Dayforce (NYSE:DAY) Earns “Buy” Rating from Needham & Company LLC

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

Other analysts also recently issued reports about the stock. Barclays decreased their price objective on shares of Dayforce from $75.00 to $74.00 and set an equal weight rating for the company in a report on Thursday, February 8th. Piper Sandler lowered their price target on Dayforce from $75.00 to $68.00 and set a neutral rating on the stock in a research report on Thursday.

Dayforce Stock Performance

Shares of Dayforce stock traded down $0.44 during midday trading on Thursday, reaching $57.29. 1,725,027 shares of the company’s stock traded hands, compared to its average volume of 1,755,743. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.12 and a current ratio of 1.07. Dayforce has a 52 week low of $54.25 and a 52 week high of $75.53. The firm has a 50 day moving average of $64.38. The stock has a market capitalization of $9.05 billion, a P/E ratio of 173.61, a price-to-earnings-growth ratio of 2.74 and a beta of 1.30.

Dayforce (NYSE:DAY) last issued 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 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 5.38% and a net margin of 3.30%. As a group, equities research analysts predict that Dayforce will post 0.89 earnings per share for the current year.

Insider Activity at Dayforce

In other news, COO Christopher R. Armstrong sold 60,000 shares of the firm’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $69.14, for a total transaction of $4,148,400.00. Following the completion of the transaction, the chief operating officer now directly owns 149,319 shares of the company’s stock, valued at approximately $10,323,915.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate 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.