Analysts Set Dayforce Inc (NYSE:DAY) Price Target at $68.40

Dayforce Inc (NYSE:DAY) has been assigned a consensus rating of “Moderate Buy” from the eleven ratings firms that are currently covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $68.40.

DAY has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft lifted their price target on Dayforce from $70.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Piper Sandler raised shares of Dayforce from a “neutral” rating to an “overweight” rating and increased their price target for the company from $68.00 to $71.00 in a research report on Wednesday, July 31st. Needham & Company LLC reaffirmed a “buy” rating and issued a $82.00 price objective on shares of Dayforce in a research report on Wednesday, July 31st. Piper Sandler Companies reissued a “neutral” rating and set a $68.00 target price on shares of Dayforce in a research report on Friday, May 17th. Finally, Citigroup cut their price target on shares of Dayforce from $72.00 to $66.00 and set a “buy” rating on the stock in a report on Tuesday, June 18th.

Institutional Trading of Dayforce

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DAY. Financial Perspectives Inc acquired a new stake in shares of Dayforce during the second quarter worth about $28,000. Sentry Investment Management LLC acquired a new stake in Dayforce during the 2nd quarter valued at approximately $33,000. Benjamin F. Edwards & Company Inc. acquired a new stake in Dayforce during the 2nd quarter valued at approximately $62,000. Brown Brothers Harriman & Co. purchased a new stake in shares of Dayforce in the 2nd quarter valued at $66,000. Finally, Canada Pension Plan Investment Board acquired a new stake in shares of Dayforce in the second quarter worth $97,000.

Dayforce Trading Up 1.2 %

Shares of NYSE DAY opened at $57.47 on Friday. Dayforce has a twelve month low of $47.08 and a twelve month high of $75.53. The firm has a market cap of $9.07 billion, a PE ratio of 174.15, a price-to-earnings-growth ratio of 1.95 and a beta of 1.29. The business has a fifty day simple moving average of $54.07 and a two-hundred day simple moving average of $57.78. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.49.

Dayforce (NYSE:DAY) last released its quarterly earnings data on Wednesday, July 31st. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.05. Dayforce had a return on equity of 6.35% and a net margin of 2.89%. The firm had revenue of $423.30 million during the quarter, compared to the consensus estimate of $417.41 million. Analysts expect that Dayforce will post 1.08 earnings per share for the current fiscal year.

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.