Dayforce (NYSE:DAY) Earns Outperform Rating from BMO Capital Markets

BMO Capital Markets reaffirmed their outperform rating on shares of Dayforce (NYSE:DAYFree Report) in a research report released on Tuesday morning, Marketbeat Ratings reports. The firm currently has a $75.00 price objective on the stock.

Several other research analysts also recently weighed in on the stock. Barclays reduced their price target on shares of Dayforce from $74.00 to $62.00 and set an equal weight rating for the company in a research report on Thursday, May 2nd. Piper Sandler restated a neutral rating and set a $68.00 price target on shares of Dayforce in a research report on Thursday, May 16th. Piper Sandler Companies reiterated a neutral rating and issued a $68.00 price objective on shares of Dayforce in a report on Friday, May 17th. Needham & Company LLC reiterated a buy rating and issued a $82.00 price objective on shares of Dayforce in a report on Thursday, May 2nd. Finally, William Blair reiterated an outperform rating on shares of Dayforce in a report on Thursday, May 2nd. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $72.50.

Read Our Latest Stock Analysis on DAY

Dayforce Stock Performance

Shares of Dayforce stock opened at $51.02 on Tuesday. The stock has a 50-day moving average price of $57.99. The firm has a market capitalization of $8.06 billion, a P/E ratio of 154.61, a P/E/G ratio of 3.49 and a beta of 1.25. Dayforce has a fifty-two week low of $48.77 and a fifty-two week high of $75.53. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.07 and a current ratio of 1.07.

Dayforce (NYSE:DAYGet Free Report) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.02). The firm had revenue of $431.50 million during the quarter, compared to analyst estimates of $426.15 million. Dayforce had a return on equity of 5.38% and a net margin of 3.30%. Equities research analysts forecast that Dayforce will post 0.88 EPS for the current year.

Insider Activity

In other news, COO Christopher R. Armstrong sold 60,000 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at approximately $10,323,915.66. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 4.90% of the company’s stock.

Dayforce Company Profile

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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.

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