Dayforce (NYSE:DAY) Upgraded by Piper Sandler to “Overweight”

Piper Sandler upgraded shares of Dayforce (NYSE:DAY) from a neutral rating to an overweight rating in a report issued on Wednesday morning, MarketBeat.com reports. The firm currently has $71.00 price objective on the stock, up from their previous price objective of $68.00.

Other research analysts have also issued research reports about the company. Barclays dropped their target price on Dayforce from $74.00 to $62.00 and set an equal weight rating on the stock in a report on Thursday, May 2nd. TD Cowen dropped their target price on Dayforce from $63.00 to $53.00 and set a buy rating on the stock in a report on Friday, June 28th. Mizuho dropped their target price on Dayforce from $95.00 to $80.00 and set a buy rating on the stock in a report on Monday, May 6th. William Blair restated an outperform rating on shares of Dayforce in a report on Thursday, May 2nd. Finally, BMO Capital Markets restated an outperform rating and issued a $75.00 target price on shares of Dayforce in a report on Tuesday, June 11th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $68.40.

Dayforce Stock Performance

Shares of NYSE:DAY opened at $53.23 on Wednesday. The business has a 50 day moving average price of $51.65. The company has a market capitalization of $8.41 billion, a price-to-earnings ratio of 161.30, a P/E/G ratio of 3.79 and a beta of 1.27. The company has a current ratio of 1.11, a quick ratio of 1.07 and a debt-to-equity ratio of 0.49. Dayforce has a 52-week low of $47.08 and a 52-week high of $75.53.

Dayforce (NYSE:DAY) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.02). The firm had revenue of $431.50 million during the quarter, compared to the consensus estimate of $426.15 million. Dayforce had a return on equity of 6.35% and a net margin of 2.89%. On average, equities analysts forecast that Dayforce will post 0.9 earnings per share for the current fiscal 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.