Dayforce Inc (NYSE:DAY) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Dayforce Inc (NYSE:DAY) have received a consensus rating of “Moderate Buy” from the twelve research firms that are currently covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $69.36.

A number of equities research analysts have issued reports on the stock. TD Cowen decreased their target price on shares of Dayforce from $63.00 to $53.00 and set a “buy” rating for the company in a research note on Friday, June 28th. BMO Capital Markets reiterated an “outperform” rating and set a $75.00 price target on shares of Dayforce in a report on Tuesday, June 11th. Citigroup boosted their price target on Dayforce from $74.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Needham & Company LLC reaffirmed a “buy” rating and set a $82.00 price objective on shares of Dayforce in a research report on Wednesday, July 31st. Finally, Wells Fargo & Company decreased their target price on shares of Dayforce from $64.00 to $52.00 and set an “equal weight” rating for the company in a research report on Friday, June 21st.

Institutional Trading of Dayforce

Several institutional investors have recently modified their holdings of the company. Financial Perspectives Inc acquired a new stake in shares of Dayforce during the 2nd quarter valued at about $28,000. Sentry Investment Management LLC bought a new position in shares of Dayforce during the second quarter valued at $33,000. Benjamin F. Edwards & Company Inc. acquired a new stake in shares of Dayforce during the 2nd quarter worth about $62,000. Brown Brothers Harriman & Co. bought a new stake in Dayforce during the second quarter worth about $66,000. Finally, Canada Pension Plan Investment Board bought a new position in shares of Dayforce in the second quarter valued at approximately $97,000.

Dayforce Trading Up 1.6 %

NYSE DAY opened at $61.76 on Thursday. The firm’s 50 day moving average price is $56.48 and its two-hundred day moving average price is $56.92. The stock has a market cap of $9.75 billion, a price-to-earnings ratio of 187.15, a PEG ratio of 2.12 and a beta of 1.29. Dayforce has a twelve month low of $47.08 and a twelve month high of $75.33. 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 (NYSE:DAY) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.05. The firm had revenue of $423.30 million during 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%. Equities analysts anticipate that Dayforce will post 1.08 EPS for the current year.

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.