Equities Analysts Issue Forecasts for Dayforce Inc’s Q3 2024 Earnings (NYSE:DAY)

Dayforce Inc (NYSE:DAY) – Analysts at KeyCorp issued their Q3 2024 earnings per share estimates for Dayforce in a note issued to investors on Monday, September 23rd. KeyCorp analyst J. Celino anticipates that the company will post earnings of $0.23 per share for the quarter. KeyCorp currently has a “Strong-Buy” rating on the stock. The consensus estimate for Dayforce’s current full-year earnings is $1.08 per share. KeyCorp also issued estimates for Dayforce’s 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 firms have also issued reports on DAY. BMO Capital Markets reiterated an “outperform” rating and set a $75.00 price target on shares of Dayforce in a research report on Tuesday, June 11th. Piper Sandler raised Dayforce from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $68.00 to $71.00 in a research note on Wednesday, July 31st. TD Cowen lowered their target price on Dayforce from $63.00 to $53.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Dayforce from $70.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $82.00 price target on shares of Dayforce in a report on Wednesday, July 31st. Three investment 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $68.55.

Dayforce Trading Up 2.0 %

Shares of Dayforce stock opened at $60.41 on Wednesday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.49. Dayforce has a 12-month low of $47.08 and a 12-month high of $75.33. The company has a market capitalization of $9.55 billion, a price-to-earnings ratio of 183.07, a PEG ratio of 2.12 and a beta of 1.29. The firm’s 50-day moving average price is $55.66 and its two-hundred day moving average price is $57.15.

Dayforce (NYSE:DAY) last released its earnings results on Wednesday, July 31st. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.05. The company had revenue of $423.30 million for 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%.

Institutional Trading of Dayforce

Institutional investors have recently modified their holdings of the business. Select Equity Group L.P. acquired a new position in Dayforce during the 2nd quarter worth about $721,310,000. EdgePoint Investment Group Inc. bought a new position in Dayforce during the 2nd quarter worth approximately $521,396,000. Dragoneer Investment Group LLC bought a new position in Dayforce during the 2nd quarter worth approximately $193,274,000. Dimensional Fund Advisors LP acquired a new position in shares of Dayforce in the 2nd quarter worth approximately $51,027,000. Finally, Cannae Holdings Inc. bought a new stake in shares of Dayforce in the 2nd quarter valued at $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.