Citigroup Raises Dayforce (NYSE:DAY) Price Target to $75.00

Dayforce (NYSE:DAY) had its price objective increased by investment analysts at Citigroup from $74.00 to $75.00 in a report issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup’s price objective indicates a potential upside of 27.12% from the stock’s previous close.

Several other brokerages also recently weighed in on DAY. TD Cowen cut their price target on shares of Dayforce from $63.00 to $53.00 and set a “buy” rating on the stock in a report on Friday, June 28th. Piper Sandler upgraded Dayforce from a “neutral” rating to an “overweight” rating and raised their target price for the company from $68.00 to $71.00 in a research report on Wednesday, July 31st. Wells Fargo & Company reduced their price target on Dayforce from $64.00 to $52.00 and set an “equal weight” rating for the company in a report on Friday, June 21st. Needham & Company LLC reissued a “buy” rating and issued a $82.00 price objective on shares of Dayforce in a report on Wednesday, July 31st. Finally, KeyCorp assumed coverage on Dayforce in a research note on Tuesday. They set an “overweight” rating and a $70.00 target price for the company. Three analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Dayforce presently has an average rating of “Moderate Buy” and an average target price of $69.36.

Dayforce Stock Down 2.3 %

NYSE DAY traded down $1.41 on Wednesday, hitting $59.00. The stock had a trading volume of 417,219 shares, compared to its average volume of 1,611,521. The business’s fifty day moving average price is $55.66 and its 200 day moving average price is $57.15. The stock has a market cap of $9.33 billion, a price-to-earnings ratio of 179.10, a price-to-earnings-growth ratio of 2.12 and a beta of 1.29. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.11 and a quick ratio of 1.11. Dayforce has a 52-week low of $47.08 and a 52-week high of $75.33.

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

Institutional Trading of Dayforce

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

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.