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

Dayforce (NYSE:DAY) had its price target dropped by stock analysts at Mizuho from $95.00 to $80.00 in a report released on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Mizuho’s price target indicates a potential upside of 39.64% from the stock’s previous close.

Several other research analysts have also weighed in on the stock. Barclays dropped their price objective on shares of Dayforce from $74.00 to $62.00 and set an “equal weight” rating on the stock in a research note on Thursday. William Blair restated an “outperform” rating on shares of Dayforce in a research note on Thursday. Piper Sandler reduced their price objective on shares of Dayforce from $75.00 to $68.00 and set a “neutral” rating for the company in a research note on Thursday. Finally, Needham & Company LLC reissued a “buy” rating and set a $82.00 target price on shares of Dayforce in a research report on Thursday. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $73.00.

Dayforce Stock Down 0.8 %

Shares of NYSE DAY opened at $57.29 on Monday. Dayforce has a 52-week low of $54.25 and a 52-week high of $75.53. The firm has a market cap of $9.05 billion, a PE ratio of 173.61, a price-to-earnings-growth ratio of 3.89 and a beta of 1.30. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.50. The stock has a fifty day moving average of $64.38.

Dayforce (NYSE:DAY) last posted its quarterly earnings data on Wednesday, February 7th. The company reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.26. The company had revenue of $399.70 million during 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%. As a group, analysts anticipate that Dayforce will post 0.89 earnings per share for the current year.

Insiders Place Their Bets

In other news, COO Christopher R. Armstrong sold 60,000 shares of the business’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $69.14, for a total value of $4,148,400.00. Following the sale, the chief operating officer now directly 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 the SEC website. 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.