Dayforce Inc (NYSE:DAY) Receives Average Rating of “Moderate Buy” from Analysts

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

A number of research analysts have weighed in on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $82.00 price objective on shares of Dayforce in a research report on Wednesday, July 31st. Piper Sandler Companies reaffirmed a “neutral” rating and issued a $68.00 price target on shares of Dayforce in a report on Friday, May 17th. TD Cowen dropped their price objective on Dayforce from $63.00 to $53.00 and set a “buy” rating on the stock in a report on Friday, June 28th. Barclays reduced their target price on Dayforce from $74.00 to $62.00 and set an “equal weight” rating for the company in a research note on Thursday, May 2nd. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $75.00 target price on shares of Dayforce in a research report on Tuesday, June 11th.

Institutional Investors Weigh In On Dayforce

A number of large investors have recently modified their holdings of the business. Creative Planning acquired a new position in Dayforce during the second quarter worth about $276,000. Scientech Research LLC purchased a new position in Dayforce in the 2nd quarter worth approximately $1,044,000. Select Equity Group L.P. acquired a new position in shares of Dayforce during the 2nd quarter worth approximately $721,310,000. Mackenzie Financial Corp purchased a new stake in shares of Dayforce in the second quarter valued at approximately $257,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of Dayforce in the second quarter valued at approximately $6,073,000.

Dayforce Price Performance

DAY opened at $55.40 on Wednesday. The company has a fifty day moving average price of $52.01. Dayforce has a 1 year low of $47.08 and a 1 year high of $75.53. The firm has a market cap of $8.75 billion, a PE ratio of 167.88, a P/E/G ratio of 3.79 and a beta of 1.27. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.07 and a current ratio of 1.11.

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.