Dayforce (NYSE:DAY) Price Target Raised to $75.00

Dayforce (NYSE:DAY) had its target price raised by Citigroup from $74.00 to $75.00 in a report released on Wednesday, Benzinga reports. They currently have a buy rating on the stock.

DAY has been the topic of several other research reports. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Dayforce from $70.00 to $75.00 and gave the stock a buy rating in a research note on Thursday, August 1st. Wells Fargo & Company cut their price target on Dayforce from $64.00 to $52.00 and set an equal weight rating on the stock in a report on Friday, June 21st. Piper Sandler upgraded Dayforce from a neutral rating to an overweight rating and upped their price objective for the stock from $68.00 to $71.00 in a research note on Wednesday, July 31st. BMO Capital Markets reiterated an outperform rating and issued a $75.00 target price on shares of Dayforce in a research note on Tuesday, June 11th. Finally, TD Cowen lowered their price target on shares of Dayforce from $63.00 to $53.00 and set a buy rating for the company in a research report on Friday, June 28th. Three analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $69.36.

Dayforce Trading Up 2.4 %

NYSE:DAY opened at $60.21 on Wednesday. Dayforce has a 52 week low of $47.08 and a 52 week high of $75.33. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.49. The company has a market cap of $9.51 billion, a PE ratio of 182.45, a P/E/G ratio of 2.12 and a beta of 1.29. The business’s 50 day moving average is $55.83 and its two-hundred day moving average is $57.17.

Dayforce (NYSE:DAY) last released 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 the consensus estimate of $417.41 million. Dayforce had a net margin of 2.89% and a return on equity of 6.35%. On average, analysts predict that Dayforce will post 1.08 EPS for the current year.

Institutional Investors Weigh In On Dayforce

Several large investors have recently modified their holdings of the stock. Select Equity Group L.P. acquired a new position in shares of Dayforce in the 2nd quarter valued at $721,310,000. State of New Jersey Common Pension Fund D purchased a new stake in Dayforce during the second quarter valued at about $2,760,000. Elo Mutual Pension Insurance Co acquired a new position in shares of Dayforce in the second quarter worth about $673,000. Royal London Asset Management Ltd. purchased a new position in shares of Dayforce in the second quarter worth approximately $2,942,000. Finally, Prudential PLC acquired a new stake in shares of Dayforce during the second quarter valued at approximately $490,000.

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.