Citigroup Lowers Dayforce (NYSE:DAY) Price Target to $66.00

Dayforce (NYSE:DAY) had its price objective reduced by analysts at Citigroup from $72.00 to $66.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s price objective suggests a potential upside of 34.26% from the company’s previous close.

DAY has been the subject of several other research reports. Mizuho lowered their price objective on shares of Dayforce from $95.00 to $80.00 and set a “buy” rating for the company in a research report on Monday, May 6th. Needham & Company LLC reissued a “buy” rating and set a $82.00 price objective on shares of Dayforce in a research report on Thursday, May 2nd. Piper Sandler Companies restated a “neutral” rating and set a $68.00 target price on shares of Dayforce in a report on Friday, May 17th. Barclays reduced their target price on shares of Dayforce from $74.00 to $62.00 and set an “equal weight” rating for the company in a report on Thursday, May 2nd. Finally, BMO Capital Markets restated an “outperform” rating and set a $75.00 target price on shares of Dayforce in a report on Tuesday, June 11th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $71.57.

Dayforce Stock Down 1.7 %

Shares of DAY stock opened at $49.16 on Tuesday. The stock’s fifty day moving average is $56.97. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.07 and a quick ratio of 1.07. Dayforce has a 12-month low of $48.77 and a 12-month high of $75.53. The company has a market capitalization of $7.76 billion, a P/E ratio of 148.97, a price-to-earnings-growth ratio of 3.44 and a beta of 1.25.

Dayforce (NYSE:DAY) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $426.15 million. On average, equities analysts expect that Dayforce 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 the stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $69.14, for a total value of $4,148,400.00. Following the completion of the sale, the chief operating officer now owns 149,319 shares in the company, valued at $10,323,915.66. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate 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.