Dayforce price target lowered to $74 from $75 at Barclays

Barclays analyst Raimo Lenschow lowered the firm’s price target on Dayforce to $74 from $75 and keeps an Equal Weight rating on the shares. The company should get credit for the Dayforce recurring ex-float acceleration in the context of slowing industry growth, the analyst tells investors in a research note. The firm says the company is benefiting from its move upmarket and the pipeline commentary is encouraging, but its cash flow margins are below peers.