Mizuho Boosts Dayforce (NYSE:DAY) Price Target to $80.00

Dayforce (NYSE:DAY) had its price target increased by Mizuho from $70.00 to $80.00 in a report issued on Monday morning, Benzinga reports. The brokerage currently has an outperform rating on the stock.

Several other equities research analysts have also recently weighed in on DAY. KeyCorp initiated coverage on Dayforce in a report on Tuesday, September 24th. They set an overweight rating and a $70.00 target price for the company. Piper Sandler upgraded Dayforce from a neutral rating to an overweight rating and raised their price target for the stock from $68.00 to $71.00 in a research note on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft raised 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. Citigroup lifted their target price on Dayforce from $74.00 to $75.00 and gave the stock a buy rating in a report on Wednesday, September 25th. Finally, TD Cowen boosted their target price on Dayforce from $58.00 to $62.00 and gave the company a hold rating in a research report on Monday, October 7th. Four equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Dayforce presently has a consensus rating of Moderate Buy and an average price target of $70.18.

Dayforce Stock Up 2.4 %

Shares of NYSE:DAY opened at $63.44 on Monday. The business’s 50 day simple moving average is $57.70 and its two-hundred day simple moving average is $56.51. The firm has a market cap of $10.02 billion, a P/E ratio of 192.24, a PEG ratio of 2.23 and a beta of 1.29. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.11 and a current ratio of 1.11. Dayforce has a 52-week low of $47.08 and a 52-week high of $75.10.

Dayforce (NYSE:DAY) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.05. The business had revenue of $423.30 million for the quarter, compared to analyst estimates of $417.41 million. Dayforce had a return on equity of 6.35% and a net margin of 2.89%. As a group, research analysts forecast that Dayforce will post 1.07 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quent Capital LLC acquired a new position in Dayforce during the 3rd quarter valued at $28,000. Financial Perspectives Inc bought a new stake in shares of Dayforce in the 2nd quarter worth about $28,000. Sentry Investment Management LLC bought a new stake in shares of Dayforce in the 2nd quarter worth about $33,000. Livforsakringsbolaget Skandia Omsesidigt bought a new stake in Dayforce during the 3rd quarter worth about $74,000. Finally, Benjamin F. Edwards & Company Inc. bought a new stake in Dayforce during the 2nd quarter worth about $62,000.

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.