Dayforce Inc (NYSE:DAY) Receives $69.36 Average Target Price from Analysts

Dayforce Inc (NYSE:DAY) has received an average recommendation of “Moderate Buy” from the twelve analysts that are currently covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $69.36.

A number of analysts have recently commented on DAY shares. TD Cowen cut their price objective 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 reissued an “outperform” rating and issued a $75.00 price target on shares of Dayforce in a report on Tuesday, June 11th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Dayforce from $70.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Piper Sandler upgraded shares of Dayforce from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $68.00 to $71.00 in a research report on Wednesday, July 31st. Finally, Needham & Company LLC restated a “buy” rating and set a $82.00 price target on shares of Dayforce in a research report on Wednesday, July 31st.

Institutional Trading of Dayforce

A number of hedge funds have recently bought and sold shares of DAY. Select Equity Group L.P. acquired a new position in shares of Dayforce during the 2nd quarter worth approximately $721,310,000. EdgePoint Investment Group Inc. purchased a new position in Dayforce during the second quarter worth approximately $521,396,000. Dragoneer Investment Group LLC acquired a new position in Dayforce during the second quarter worth $193,274,000. Dimensional Fund Advisors LP purchased a new stake in Dayforce in the 2nd quarter valued at $51,027,000. Finally, Cannae Holdings Inc. acquired a new stake in shares of Dayforce in the 2nd quarter worth $49,600,000.

Dayforce Stock Up 0.4 %

DAY opened at $61.86 on Thursday. The company has a fifty day moving average of $56.87 and a two-hundred day moving average of $56.84. The stock has a market capitalization of $9.77 billion, a price-to-earnings ratio of 187.45, a PEG ratio of 2.12 and a beta of 1.29. Dayforce has a fifty-two week low of $47.08 and a fifty-two week high of $75.33. 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 (NYSE:DAY) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.05. The firm had revenue of $423.30 million during 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%. On average, research analysts expect that Dayforce will post 1.08 earnings per share for the current year.

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.