Dayforce Inc (NYSE:DAY – Get Free Report) shares shot up 5.5% on Wednesday . The stock traded as high as $62.24 and last traded at $61.83. 1,311,240 shares traded hands during mid-day trading, a decline of 4% from the average session volume of 1,368,799 shares. The stock had previously closed at $58.60.
Analyst Upgrades and Downgrades
Several brokerages recently weighed in on DAY. Barclays decreased their price objective on Dayforce from $75.00 to $74.00 and set an “equal weight” rating for the company in a report on Thursday, February 8th. Piper Sandler lifted their price objective on Dayforce from $73.00 to $75.00 and gave the stock a “neutral” rating in a report on Thursday, February 8th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $82.00 price objective on shares of Dayforce in a report on Thursday, February 8th.
Dayforce Stock Performance
The business has a 50 day moving average price of $67.47. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.50. The company has a market cap of $9.54 billion, a price-to-earnings ratio of 167.43, a P/E/G ratio of 2.93 and a beta of 1.30.
Dayforce (NYSE:DAY – Get Free Report) last issued its 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 4.47% and a net margin of 3.62%. The business had revenue of $399.70 million during the quarter, compared to the consensus estimate of $400.14 million. Sell-side analysts predict that Dayforce Inc will post 0.85 EPS for the current fiscal year.
Insiders Place Their Bets
In other Dayforce news, COO Christopher R. Armstrong sold 60,000 shares of the firm’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 completion of the transaction, the chief operating officer now owns 149,319 shares in the company, valued at approximately $10,323,915.66. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 4.90% of the stock is 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.