Dayforce (NYSE:DAY) Upgraded by KeyCorp to “Strong-Buy”

KeyCorp upgraded shares of Dayforce (NYSE:DAY) to a strong-buy rating in a report released on Monday morning, 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.

Other equities research analysts also recently issued research reports about the company. Deutsche Bank Aktiengesellschaft boosted their target price on Dayforce from $70.00 to $75.00 and gave the stock a buy rating in a research report on Thursday, August 1st. Piper Sandler upgraded 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 research report on Wednesday, July 31st. TD Cowen dropped their target price on Dayforce from $63.00 to $53.00 and set a buy rating for the company in a research report on Friday, June 28th. BMO Capital Markets restated an outperform rating and set a $75.00 target price on shares of Dayforce in a research report on Tuesday, June 11th. Finally, Wells Fargo & Company dropped their target price on Dayforce from $64.00 to $52.00 and set an equal weight rating for the company in a research report on Friday, June 21st. Three analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $68.55.

Dayforce Trading Up 2.0 %

Shares of DAY opened at $60.41 on Monday. The stock has a fifty day moving average price of $55.66 and a two-hundred day moving average price 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 company has a market cap of $9.55 billion, a price-to-earnings ratio of 183.07, a PEG ratio of 2.12 and a beta of 1.29.

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

Institutional Investors Weigh In On Dayforce

A number of institutional investors have recently made changes to their positions in the stock. Select Equity Group L.P. acquired a new stake in shares of Dayforce during the second quarter worth $721,310,000. EdgePoint Investment Group Inc. acquired a new position in Dayforce in the second quarter valued at about $521,396,000. Dragoneer Investment Group LLC acquired a new position in Dayforce in the second quarter valued at about $193,274,000. Dimensional Fund Advisors LP acquired a new position in Dayforce in the second quarter valued at about $51,027,000. Finally, Cannae Holdings Inc. acquired a new position in Dayforce in the second quarter valued at about $49,600,000.

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.