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

Dayforce (NYSE:DAY) had its price objective increased by research analysts at TD Cowen from $58.00 to $62.00 in a report issued on Monday, Benzinga reports. The brokerage presently has a “hold” rating on the stock. TD Cowen’s target price suggests a potential upside of 2.48% from the company’s previous close.

DAY has been the subject of a number of other research reports. Citigroup raised their target price on shares of Dayforce from $74.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. KeyCorp initiated coverage on shares of Dayforce in a report on Tuesday, September 24th. They issued an “overweight” rating and a $70.00 price target on the stock. Piper Sandler raised Dayforce from a “neutral” rating to an “overweight” rating and upped their target price for the company from $68.00 to $71.00 in a research report on Wednesday, July 31st. Wells Fargo & Company lowered their target price 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 price target on Dayforce from $70.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Four 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 company. Based on data from MarketBeat.com, Dayforce presently has an average rating of “Moderate Buy” and a consensus target price of $70.18.

Dayforce Price Performance

Shares of NYSE DAY opened at $60.50 on Monday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.49. The business’s 50 day moving average price is $57.01 and its two-hundred day moving average price is $56.68. The company has a market cap of $9.55 billion, a PE ratio of 183.33, a price-to-earnings-growth ratio of 2.12 and a beta of 1.29. Dayforce has a twelve month low of $47.08 and a twelve month high of $75.33.

Dayforce (NYSE:DAY) last posted its earnings results on Wednesday, July 31st. The company reported $0.23 earnings per share for the quarter, topping 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 analyst estimates of $417.41 million. On average, analysts predict that Dayforce will post 1.08 EPS for the current year.

Institutional Trading of Dayforce

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

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.