TD Cowen Increases Dayforce (NYSE:DAY) Price Target to $62.00

Dayforce (NYSE:DAY) had its price target increased by TD Cowen from $58.00 to $62.00 in a research report sent to investors on Monday morning, Benzinga reports. They currently have a hold rating on the stock.

A number of other research analysts also recently issued reports on the stock. Citigroup upped their target price on shares of Dayforce from $74.00 to $75.00 and gave the company a buy rating in a research report on Wednesday, September 25th. Deutsche Bank Aktiengesellschaft raised their price objective 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. Wells Fargo & Company dropped their target price on shares of Dayforce from $64.00 to $52.00 and set an equal weight rating for the company in a research report on Friday, June 21st. BMO Capital Markets reissued an outperform rating and issued a $75.00 price target on shares of Dayforce in a research note on Tuesday, June 11th. Finally, Needham & Company LLC reaffirmed a buy rating and set a $82.00 price objective on shares of Dayforce in a research note on Wednesday, July 31st. Four analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Dayforce has a consensus rating of Moderate Buy and an average price target of $70.18.

Dayforce Price Performance

DAY opened at $62.38 on Monday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.11 and a quick ratio of 1.11. The stock has a market capitalization 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’s 50 day simple moving average is $57.20 and its 200-day simple moving average is $56.65. Dayforce has a one year low of $47.08 and a one year high of $75.33.

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

Hedge Funds Weigh In On Dayforce

Several institutional investors and hedge funds have recently modified their holdings of the business. Select Equity Group L.P. bought a new position in Dayforce in the second quarter valued at approximately $721,310,000. State of New Jersey Common Pension Fund D acquired a new stake in shares of Dayforce during the second quarter worth $2,760,000. Elo Mutual Pension Insurance Co bought a new stake in Dayforce in the 2nd quarter valued at $673,000. Royal London Asset Management Ltd. acquired a new position in Dayforce in the 2nd quarter worth $2,942,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new position in Dayforce in the 2nd quarter worth $663,000.

Dayforce Company Profile

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.