Mizuho Boosts Dayforce (NYSE:DAY) Price Target to $80.00

Dayforce (NYSE:DAY) had its price target boosted by Mizuho from $70.00 to $80.00 in a research report sent to investors on Monday morning, Benzinga reports. The firm currently has an outperform rating on the stock.

Several other equities research analysts also recently commented on the stock. Piper Sandler raised shares of 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 note on Wednesday, July 31st. Wells Fargo & Company dropped their price objective 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. Needham & Company LLC reissued a “buy” rating and issued a $82.00 target price on shares of Dayforce in a research note on Wednesday, July 31st. TD Cowen raised their price target on Dayforce from $58.00 to $62.00 and gave the stock a “hold” rating in a research report on Monday, October 7th. Finally, KeyCorp assumed coverage on Dayforce in a report on Tuesday, September 24th. They set an “overweight” rating and a $70.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $70.18.

Dayforce Price Performance

Shares of DAY stock opened at $63.94 on Monday. The firm’s 50 day moving average price is $58.17 and its two-hundred day moving average price is $56.55. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.11 and a current ratio of 1.11. Dayforce has a 52-week low of $47.08 and a 52-week high of $75.10. The stock has a market cap of $10.10 billion, a PE ratio of 193.76, a PEG ratio of 2.23 and a beta of 1.29.

Dayforce (NYSE:DAY) last released its earnings results on Wednesday, July 31st. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.05. The firm 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%. As a group, analysts forecast that Dayforce will post 1.07 EPS for the current year.

Institutional Trading of Dayforce

A number of large investors have recently added to or reduced their stakes in DAY. Bleakley Financial Group LLC raised its holdings in shares of Dayforce by 9.9% in the 3rd quarter. Bleakley Financial Group LLC now owns 4,867 shares of the company’s stock valued at $298,000 after purchasing an additional 439 shares during the period. Swedbank AB acquired a new position in Dayforce during the third quarter worth approximately $5,292,000. Creative Planning raised its stake in Dayforce by 87.7% in the third quarter. Creative Planning now owns 10,442 shares of the company’s stock valued at $640,000 after buying an additional 4,879 shares during the period. Exchange Traded Concepts LLC acquired a new stake in shares of Dayforce in the third quarter valued at approximately $278,000. Finally, Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in Dayforce during the 3rd quarter valued at $74,000.

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.