Dayforce (NYSE:DAY) Coverage Initiated by Analysts at KeyCorp

Analysts at KeyCorp assumed coverage on shares of Dayforce (NYSE:DAY) in a report released on Tuesday, Marketbeat.com reports. The brokerage set an “overweight” rating and a $70.00 price target on the stock. KeyCorp’s target price indicates a potential upside of 18.24% from the stock’s current price.

Several other analysts have also recently issued reports on the company. TD Cowen cut their target price on Dayforce from $63.00 to $53.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. Piper Sandler upgraded Dayforce from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $68.00 to $71.00 in a research report on Wednesday, July 31st. Needham & Company LLC restated a “buy” rating and set a $82.00 target price on shares of Dayforce in a report on Wednesday, July 31st. 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. Finally, BMO Capital Markets restated an “outperform” rating and issued a $75.00 price objective on shares of Dayforce in a report on Tuesday, June 11th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $68.55.

Dayforce Stock Up 0.5 %

DAY opened at $59.20 on Tuesday. Dayforce has a 12 month low of $47.08 and a 12 month high of $75.33. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49. The business’s 50-day moving average price is $55.56 and its 200-day moving average price is $57.20. The company has a market cap of $9.35 billion, a P/E ratio of 179.39, a P/E/G ratio of 2.07 and a beta of 1.29.

Dayforce (NYSE:DAY) last announced 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. The firm had revenue of $423.30 million during the quarter, compared to the consensus estimate of $417.41 million. Dayforce had a return on equity of 6.35% and a net margin of 2.89%. On average, equities analysts expect that Dayforce will post 1.08 EPS for the current year.

Institutional Investors Weigh In On Dayforce

Several hedge funds have recently bought and sold shares of DAY. Creative Planning purchased a new position in shares of Dayforce during the second quarter valued at approximately $276,000. Scientech Research LLC bought a new position in Dayforce during the 2nd quarter valued at approximately $1,044,000. Select Equity Group L.P. bought a new stake in Dayforce in the second quarter worth $721,310,000. Mackenzie Financial Corp bought a new stake in Dayforce in the second quarter worth $257,000. Finally, The Manufacturers Life Insurance Company bought a new position in shares of Dayforce during the second quarter valued at $6,073,000.

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.