Barclays Cuts Dayforce (NYSE:DAY) Price Target to $61.00

Dayforce (NYSE:DAY - Get Free Report) had its price objective dropped by Barclays from $69.00 to $61.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has an "equal weight" rating on the stock. Barclays's price target indicates a potential upside of 5.50% from the stock's previous close.

A number of other brokerages have also weighed in on DAY. TD Cowen raised shares of Dayforce from a "hold" rating to a "buy" rating and upped their price target for the stock from $67.00 to $68.00 in a research note on Friday, March 7th. Needham & Company LLC reaffirmed a "buy" rating and set a $95.00 price target on shares of Dayforce in a research note on Thursday, February 6th. Jefferies Financial Group dropped their price objective on Dayforce from $80.00 to $75.00 and set a "hold" rating on the stock in a research note on Thursday, February 6th. Citigroup decreased their target price on Dayforce from $90.00 to $83.00 and set a "buy" rating for the company in a research note on Thursday, January 16th. Finally, Mizuho dropped their price target on shares of Dayforce from $95.00 to $80.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 15th. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $74.86.

Dayforce Stock Performance

DAY stock traded up $0.55 on Monday, reaching $57.82. The company's stock had a trading volume of 1,232,792 shares, compared to its average volume of 1,752,480. The firm has a fifty day moving average of $57.39 and a two-hundred day moving average of $67.05. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.13 and a quick ratio of 1.15. The company has a market capitalization of $9.15 billion, a P/E ratio of 525.68, a price-to-earnings-growth ratio of 2.49 and a beta of 1.20. Dayforce has a 52 week low of $47.08 and a 52 week high of $82.69.

Dayforce (NYSE:DAY - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.09). Dayforce had a return on equity of 6.49% and a net margin of 1.03%. As a group, analysts predict that Dayforce will post 1.48 EPS for the current fiscal year.

Insider Activity

In other news, EVP William Everett Mcdonald sold 2,000 shares of the company's stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $56.16, for a total value of $112,320.00. Following the transaction, the executive vice president now owns 105,691 shares in the company, valued at $5,935,606.56. This represents a 1.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 4.50% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. FMR LLC boosted its stake in shares of Dayforce by 382.5% during the 4th quarter. FMR LLC now owns 3,215,123 shares of the company's stock valued at $233,547,000 after buying an additional 2,548,779 shares during the period. Capital International Investors boosted its position in Dayforce by 3.9% during the fourth quarter. Capital International Investors now owns 17,659,706 shares of the company's stock valued at $1,282,800,000 after purchasing an additional 667,065 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in Dayforce by 18,250.4% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 660,613 shares of the company's stock valued at $47,890,000 after purchasing an additional 657,013 shares in the last quarter. California Public Employees Retirement System grew its stake in Dayforce by 189.0% in the fourth quarter. California Public Employees Retirement System now owns 567,561 shares of the company's stock valued at $41,228,000 after purchasing an additional 371,153 shares in the last quarter. Finally, Northern Trust Corp increased its position in Dayforce by 21.5% in the 4th quarter. Northern Trust Corp now owns 1,544,475 shares of the company's stock worth $112,191,000 after purchasing an additional 273,031 shares during the last quarter.

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.