Dayforce (NYSE:DAY) Price Target Increased to $62.00 by Analysts at TD Cowen

by · The Cerbat Gem

Dayforce (NYSE:DAY – Free Report) had its target price raised by TD Cowen from $58.00 to $62.00 in a research report released on Monday, Benzinga reports. The firm currently has a hold rating on the stock.

A number of other brokerages have also recently weighed in on DAY. KeyCorp initiated coverage on shares of Dayforce in a research note on Tuesday, September 24th. They issued an overweight rating and a $70.00 price objective for the company. Needham & Company LLC restated a buy rating and set a $82.00 price target on shares of Dayforce in a report on Wednesday, July 31st. Wells Fargo & Company dropped their price objective on Dayforce from $64.00 to $52.00 and set an equal weight rating on the stock in a research note on Friday, June 21st. 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. Finally, Piper Sandler raised 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 report on Wednesday, July 31st. Four investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Dayforce currently has an average rating of Moderate Buy and a consensus price target of $70.18.

Check Out Our Latest Analysis on Dayforce

Dayforce Price Performance

NYSE DAY opened at $62.38 on Monday. Dayforce has a fifty-two week low of $47.08 and a fifty-two week high of $75.33. The stock’s 50-day moving average is $57.20 and its two-hundred day moving average is $56.65. The firm has a market cap of $9.85 billion, a P/E ratio of 189.03, a price-to-earnings-growth ratio of 2.12 and a beta of 1.29. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.11 and a quick ratio of 1.11.

Dayforce (NYSE:DAY – Get Free Report) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.05. Dayforce had a return on equity of 6.35% and a net margin of 2.89%. The business had revenue of $423.30 million for the quarter, compared to the consensus estimate of $417.41 million. On average, analysts anticipate that Dayforce will post 1.08 earnings per share for the current fiscal year.

Institutional Trading of Dayforce

Several institutional investors have recently modified their holdings of the company. Select Equity Group L.P. acquired a new stake in shares of Dayforce during the 2nd quarter valued at about $721,310,000. EdgePoint Investment Group Inc. bought a new position in Dayforce during the second quarter worth about $521,396,000. Dragoneer Investment Group LLC acquired a new stake in Dayforce during the second quarter valued at approximately $193,274,000. Dimensional Fund Advisors LP bought a new stake in shares of Dayforce in the 2nd quarter valued at approximately $51,027,000. Finally, Cannae Holdings Inc. bought a new stake in shares of Dayforce in the 2nd quarter valued at approximately $49,600,000.

About Dayforce

(Get Free Report)

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.

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