Dayforce Inc (NYSE:DAY) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Dayforce Inc (NYSE:DAY) have been given an average recommendation of “Moderate Buy” by the twelve brokerages that are presently covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $69.36.

A number of equities analysts have commented on DAY shares. TD Cowen cut their price objective on shares of Dayforce from $63.00 to $53.00 and set a “buy” rating on the stock in a report on Friday, June 28th. Citigroup increased their target price on Dayforce from $74.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Piper Sandler upgraded shares of Dayforce from a “neutral” rating to an “overweight” rating and lifted their price target 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 set a $75.00 price objective on shares of Dayforce in a research note on Tuesday, June 11th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Dayforce from $70.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st.

Dayforce Trading Up 1.6 %

Shares of DAY stock opened at $61.76 on Thursday. Dayforce has a twelve month low of $47.08 and a twelve month high of $75.33. The company has a market capitalization of $9.75 billion, a price-to-earnings ratio of 187.15, a PEG ratio of 2.12 and a beta of 1.29. The firm has a 50-day moving average price of $56.48 and a 200 day moving average price of $56.92. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49.

Dayforce (NYSE:DAY) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates 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%. Research analysts forecast that Dayforce will post 1.08 earnings per share for the current fiscal year.

Institutional Trading of Dayforce

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Candriam S.C.A. acquired a new stake in shares of Dayforce in the second quarter valued at $6,027,000. New Mexico Educational Retirement Board bought a new stake in Dayforce during the second quarter worth approximately $392,000. Acadian Asset Management LLC bought a new position in shares of Dayforce in the second quarter valued at $287,000. Prudential PLC acquired a new stake in shares of Dayforce during the 2nd quarter valued at $490,000. Finally, Texas Permanent School Fund Corp acquired a new position in shares of Dayforce in the 2nd quarter worth $1,281,000.

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.