KeyCorp Initiates Coverage on Dayforce (NYSE:DAY)

by · The Markets Daily

KeyCorp started coverage on shares of Dayforce (NYSE:DAY – Free Report) in a research report released on Tuesday, MarketBeat.com reports. The brokerage issued an overweight rating and a $70.00 price target on the stock. 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.

A number of other brokerages also recently issued reports on DAY. Deutsche Bank Aktiengesellschaft boosted their price objective on Dayforce from $70.00 to $75.00 and gave the company a buy rating in a research note on Thursday, August 1st. Citigroup dropped their price target on shares of Dayforce from $72.00 to $66.00 and set a buy rating for the company in a research report on Tuesday, June 18th. Piper Sandler upgraded shares of 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 report on Wednesday, July 31st. TD Cowen lowered their target price on shares of Dayforce from $63.00 to $53.00 and set a buy rating on the stock in a research note on Friday, June 28th. Finally, Needham & Company LLC reiterated a buy rating and issued a $82.00 price target on shares of Dayforce in a research note on Wednesday, July 31st. Three analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of $69.36.

Check Out Our Latest Stock Report on Dayforce

Dayforce Stock Up 0.5 %

Shares of DAY stock opened at $58.79 on Tuesday. 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 has a 12 month low of $47.08 and a 12 month high of $75.33. The stock has a market cap of $9.29 billion, a P/E ratio of 178.16, a P/E/G ratio of 2.12 and a beta of 1.29. The company has a 50 day simple moving average of $55.72 and a two-hundred day simple moving average of $57.16.

Dayforce (NYSE:DAY – Get Free Report) last announced its earnings results on Wednesday, July 31st. The company reported $0.23 EPS 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 analysts’ expectations of $417.41 million. Dayforce had a return on equity of 6.35% and a net margin of 2.89%. On average, research analysts expect that Dayforce will post 1.08 earnings per share for the current year.

Institutional Trading of Dayforce

Several hedge funds have recently modified their holdings of the company. State of New Jersey Common Pension Fund D bought a new stake in Dayforce in the second quarter worth $2,760,000. Elo Mutual Pension Insurance Co bought a new stake in shares of Dayforce in the 2nd quarter worth about $673,000. Royal London Asset Management Ltd. bought a new stake in shares of Dayforce in the 2nd quarter worth about $2,942,000. Prudential PLC purchased a new stake in shares of Dayforce during the 2nd quarter valued at about $490,000. Finally, Vanguard Personalized Indexing Management LLC bought a new position in shares of Dayforce in the 2nd quarter valued at about $663,000.

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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