William Blair Reiterates Outperform Rating for Dayforce (NYSE:DAY)

William Blair reiterated their outperform rating on shares of Dayforce (NYSE:DAY) in a report issued on Thursday, Zacks.com reports.

Other analysts have also recently issued research reports about the stock. 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 research note on Thursday. Needham & Company LLC reaffirmed a buy rating and issued a $82.00 price objective on shares of Dayforce in a report on Thursday. Finally, Piper Sandler dropped their target price on Dayforce from $75.00 to $68.00 and set a neutral rating on the stock in a research report on Thursday.

Dayforce Stock Performance

DAY opened at $57.32 on Thursday. Dayforce has a one year low of $54.25 and a one 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 1.12. The firm has a market capitalization of $8.92 billion, a PE ratio of 173.70, a P/E/G ratio of 2.83 and a beta of 1.30. The business’s 50-day moving average price is $64.38.

Dayforce (NYSE:DAY) last released its quarterly earnings results on Wednesday, February 7th. The company reported $0.38 EPS 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 company had revenue of $399.70 million for the quarter, compared to analyst estimates of $400.14 million. On average, equities research analysts forecast that Dayforce will post 0.85 EPS for the current fiscal year.

Insider Buying and Selling

In other Dayforce news, COO Christopher R. Armstrong sold 60,000 shares of the stock in a transaction dated 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 transaction, the chief operating officer now directly owns 149,319 shares of the company’s stock, valued at $10,323,915.66. The sale was disclosed in a filing with the SEC, which is available at this link. 4.90% of the stock is owned by insiders.

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.