Dayforce (NYSE:DAY) PT Raised to $75.00 at Citigroup

Dayforce (NYSE:DAY) had its price target raised by Citigroup from $74.00 to $75.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a buy rating on the stock.

A number of other analysts have also recently issued reports on the stock. TD Cowen reduced their target price on shares of Dayforce from $63.00 to $53.00 and set a buy rating for the company in a research note on Friday, June 28th. Needham & Company LLC reaffirmed a buy rating and issued a $82.00 price objective on shares of Dayforce in a research note on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft increased their target price on shares of Dayforce from $70.00 to $75.00 and gave the stock a buy rating in a research report on Thursday, August 1st. Piper Sandler raised Dayforce from a neutral rating to an overweight rating and boosted their price target for the stock from $68.00 to $71.00 in a research report on Wednesday, July 31st. Finally, Wells Fargo & Company lowered their price objective on Dayforce from $64.00 to $52.00 and set an equal weight rating on the stock in a report on Friday, June 21st. Three analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $69.36.

Dayforce Stock Performance

Shares of DAY opened at $60.21 on Wednesday. Dayforce has a 52 week low of $47.08 and a 52 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. The company has a market capitalization of $9.51 billion, a PE ratio of 182.45, a PEG ratio of 2.12 and a beta of 1.29. The company’s 50 day moving average price is $55.83 and its 200 day moving average price is $57.17.

Dayforce (NYSE:DAY) last issued its earnings results on Wednesday, July 31st. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.05. The company had revenue of $423.30 million for 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%. Research analysts expect that Dayforce will post 1.08 EPS for the current fiscal year.

Institutional Investors Weigh In On Dayforce

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

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.