Dayforce (NYSE:DAY) Given New $61.00 Price Target at Barclays

Dayforce (NYSE:DAY) had its target price lowered by equities research analysts at Barclays from $69.00 to $61.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s target price points to a potential upside of 14.54% from the stock’s current price.

Several other research analysts have also issued reports on DAY. TD Cowen raised Dayforce from a “hold” rating to a “buy” rating and upped their target price for the company from $67.00 to $68.00 in a research report on Friday, March 7th. Jefferies Financial Group dropped their target price on shares of Dayforce from $80.00 to $75.00 and set a “hold” rating on the stock in a research report on Thursday, February 6th. Stifel Nicolaus lowered their price objective on shares of Dayforce from $90.00 to $85.00 and set a “buy” rating for the company in a research note on Thursday, February 6th. Citigroup dropped their price objective on shares of Dayforce from $90.00 to $83.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $80.00 price target (down previously from $85.00) on shares of Dayforce in a research report on Wednesday, January 8th. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, Dayforce currently has an average rating of “Moderate Buy” and an average price target of $76.21.

Dayforce Stock Performance

Shares of DAY stock opened at $53.26 on Monday. The company’s 50 day moving average is $58.30 and its 200 day moving average is $67.32. The company has a quick ratio of 1.15, a current ratio of 1.13 and a debt-to-equity ratio of 0.47. The firm has a market cap of $8.43 billion, a price-to-earnings ratio of 485.88, a PEG ratio of 2.49 and a beta of 1.20. Dayforce has a 52-week low of $47.08 and a 52-week high of $82.69.

Dayforce (NYSE:DAY) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.09). Dayforce had a net margin of 1.03% and a return on equity of 6.49%. On average, sell-side analysts anticipate that Dayforce will post 1.48 EPS for the current fiscal year.

Insider Activity

In related news, EVP William Everett Mcdonald sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $56.16, for a total value of $112,320.00. Following the transaction, the executive vice president now directly owns 105,691 shares of the company’s stock, valued at approximately $5,935,606.56. This trade represents a 1.86 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 4.50% of the company’s stock.

Hedge Funds Weigh In On Dayforce

A number of hedge funds have recently made changes to their positions in DAY. Harvest Fund Management Co. Ltd purchased a new stake in shares of Dayforce during the fourth quarter worth approximately $61,000. Federated Hermes Inc. acquired a new stake in Dayforce during the 4th quarter worth $72,000. AlphaQuest LLC grew its holdings in shares of Dayforce by 14,800.0% during the fourth quarter. AlphaQuest LLC now owns 1,043 shares of the company’s stock worth $76,000 after buying an additional 1,036 shares in the last quarter. Smartleaf Asset Management LLC raised its position in shares of Dayforce by 69.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,227 shares of the company’s stock valued at $89,000 after buying an additional 501 shares during the last quarter. Finally, Mufg Securities Americas Inc. purchased a new position in shares of Dayforce in the fourth quarter worth about $169,000.

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.