Dayforce (NYSE:DAY) Stock Rating Upgraded by KeyCorp

Dayforce (NYSE:DAY) was upgraded by KeyCorp to a “strong-buy” rating in a report released on Monday, Zacks.com reports. KeyCorp also issued estimates for Dayforce’s Q3 2024 earnings at $0.23 EPS, Q4 2024 earnings at $0.27 EPS, FY2024 earnings at $1.03 EPS, Q1 2025 earnings at $0.43 EPS, Q2 2025 earnings at $0.30 EPS, Q3 2025 earnings at $0.33 EPS, Q4 2025 earnings at $0.35 EPS, FY2025 earnings at $1.40 EPS and FY2026 earnings at $1.89 EPS.

Several other research analysts also recently commented on the company. Piper Sandler raised Dayforce from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $68.00 to $71.00 in a report on Wednesday, July 31st. Needham & Company LLC reissued a “buy” rating and issued a $82.00 price objective on shares of Dayforce in a research note on Wednesday, July 31st. Citigroup decreased their target price on Dayforce from $72.00 to $66.00 and set a “buy” rating on the stock in a report on Tuesday, June 18th. Deutsche Bank Aktiengesellschaft lifted 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. Finally, Wells Fargo & Company decreased their price objective on shares of Dayforce from $64.00 to $52.00 and set an “equal weight” rating on the stock in a report on Friday, June 21st. Three equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $68.55.

Dayforce Stock Up 2.0 %

Shares of NYSE DAY opened at $60.41 on Monday. The business has a fifty day moving average of $55.66 and a two-hundred day moving average of $57.15. 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 $75.33. The stock has a market cap of $9.55 billion, a PE ratio of 183.07, a PEG ratio of 2.12 and a beta of 1.29.

Dayforce (NYSE:DAY) last announced its quarterly earnings results 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 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%. As a group, equities research analysts expect that Dayforce will post 1.08 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in DAY. State of New Jersey Common Pension Fund D acquired a new stake in shares of Dayforce during the 2nd quarter worth approximately $2,760,000. Elo Mutual Pension Insurance Co bought a new position in Dayforce in the second quarter valued at approximately $673,000. Royal London Asset Management Ltd. acquired a new stake in Dayforce during the 2nd quarter worth $2,942,000. Prudential PLC bought a new stake in shares of Dayforce during the 2nd quarter valued at $490,000. Finally, Hsbc Holdings PLC bought a new stake in shares of Dayforce during the 2nd quarter valued at $9,801,000.

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.