Mizuho Cuts Dayforce (NYSE:DAY) Price Target to $80.00

Dayforce (NYSE:DAY) had its price target lowered by Mizuho from $95.00 to $80.00 in a report released on Monday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other analysts have also issued reports on DAY. Needham & Company LLC reissued a buy rating and issued a $82.00 price target on shares of Dayforce in a research report on Thursday, May 2nd. Barclays cut their price objective on Dayforce from $74.00 to $62.00 and set an equal weight rating for the company in a report on Thursday, May 2nd. Piper Sandler reduced their target price on Dayforce from $75.00 to $68.00 and set a neutral rating on the stock in a research note on Thursday, May 2nd. Finally, William Blair reissued an outperform rating on shares of Dayforce in a research note on Thursday, May 2nd. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Dayforce currently has a consensus rating of Moderate Buy and a consensus price target of $73.40.

Dayforce Price Performance

Shares of NYSE DAY opened at $58.96 on Monday. The firm has a market capitalization of $9.31 billion, a PE ratio of 178.67, a P/E/G ratio of 3.89 and a beta of 1.30. The firm’s 50-day simple moving average is $63.62. Dayforce has a 1 year low of $54.25 and a 1 year high of $75.53. 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 (NYSE:DAY) last posted its quarterly earnings data on Wednesday, February 7th. The company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.26. Dayforce had a return on equity of 5.38% and a net margin of 3.30%. The business had revenue of $399.70 million for the quarter, compared to analysts’ expectations of $400.14 million. As a group, equities research analysts anticipate that Dayforce will post 0.89 earnings per share for the current fiscal year.

Insider Buying and Selling at Dayforce

In other news, COO Christopher R. Armstrong sold 60,000 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at $10,323,915.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 4.90% of the stock is currently owned by corporate insiders.

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.