Dayforce (NYSE:DAY) Price Target Increased to $75.00 by Analysts at Citigroup

Dayforce (NYSE:DAY) had its price objective boosted by Citigroup from $74.00 to $75.00 in a research report sent to investors on Wednesday morning, Benzinga reports. They currently have a buy rating on the stock.

A number of other brokerages have also issued reports on DAY. Piper Sandler upgraded shares of Dayforce from a neutral rating to an overweight rating and lifted their price target for the stock from $68.00 to $71.00 in a research note on Wednesday, July 31st. Needham & Company LLC restated a buy rating and issued a $82.00 target price on shares of Dayforce in a research note on Wednesday, July 31st. Wells Fargo & Company reduced their price target on shares of Dayforce from $64.00 to $52.00 and set an equal weight rating on the stock in a research report on Friday, June 21st. BMO Capital Markets reissued an outperform rating and issued a $75.00 price objective on shares of Dayforce in a report on Tuesday, June 11th. Finally, TD Cowen cut their price objective on Dayforce from $63.00 to $53.00 and set a buy rating on the stock in a research note on Friday, June 28th. Three equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $69.36.

Dayforce Stock Performance

Dayforce stock opened at $60.20 on Wednesday. Dayforce has a 12-month low of $47.08 and a 12-month high of $75.33. 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 company has a market capitalization of $9.51 billion, a price-to-earnings ratio of 182.42, a price-to-earnings-growth ratio of 2.12 and a beta of 1.29. The firm’s fifty day moving average price is $55.97 and its 200 day moving average price is $57.12.

Dayforce (NYSE:DAY) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.23 EPS for the quarter, topping 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 business had revenue of $423.30 million for the quarter, compared to analysts’ expectations of $417.41 million. On average, research analysts forecast that Dayforce will post 1.08 EPS for the current fiscal year.

Institutional Trading of Dayforce

Institutional investors have recently made changes to their positions in the stock. Financial Perspectives Inc acquired a new stake in shares of Dayforce in the second quarter valued at $28,000. Sentry Investment Management LLC acquired a new stake in Dayforce in the 2nd quarter valued at about $33,000. Benjamin F. Edwards & Company Inc. bought a new position in shares of Dayforce during the 2nd quarter valued at about $62,000. Brown Brothers Harriman & Co. acquired a new position in shares of Dayforce in the 2nd quarter worth approximately $66,000. Finally, Canada Pension Plan Investment Board bought a new stake in shares of Dayforce in the 2nd 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.