Dayforce Inc (NYSE:DAY) Given Average Rating of “Moderate Buy” by Analysts

Shares of Dayforce Inc (NYSE:DAY) have been given an average rating of “Moderate Buy” by the eleven analysts that are presently covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $68.40.

DAY has been the topic of several research analyst reports. Citigroup reduced their price target on shares of Dayforce from $72.00 to $66.00 and set a “buy” rating on the stock in a research report on Tuesday, June 18th. BMO Capital Markets reaffirmed an “outperform” rating and set a $75.00 target price on shares of Dayforce in a report on Tuesday, June 11th. Piper Sandler upgraded Dayforce from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $68.00 to $71.00 in a report on Wednesday, July 31st. Wells Fargo & Company reduced 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. Finally, Deutsche Bank Aktiengesellschaft boosted their target price 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.

Dayforce Stock Performance

Dayforce stock opened at $58.81 on Friday. Dayforce has a 52 week low of $47.08 and a 52 week high of $75.33. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49. The stock has a market cap of $9.29 billion, a P/E ratio of 178.21, a price-to-earnings-growth ratio of 1.95 and a beta of 1.29. The stock has a 50 day moving average of $54.36 and a 200-day moving average of $57.78.

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

Hedge Funds Weigh In On Dayforce

Several institutional investors have recently modified their holdings of DAY. Financial Perspectives Inc bought a new stake in Dayforce in the 2nd quarter valued at about $28,000. Sentry Investment Management LLC bought a new stake in shares of Dayforce during the second quarter valued at approximately $33,000. Benjamin F. Edwards & Company Inc. acquired a new position in shares of Dayforce during the second quarter worth approximately $62,000. Brown Brothers Harriman & Co. bought a new position in Dayforce in the 2nd quarter worth approximately $66,000. Finally, Canada Pension Plan Investment Board acquired a new stake in Dayforce in the 2nd quarter valued at approximately $97,000.

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.