Needham & Company LLC Reaffirms Buy Rating for Dayforce (NYSE:DAY)

Needham & Company LLC reiterated their buy rating on shares of Dayforce (NYSE:DAY) in a report released on Wednesday, Benzinga reports. They currently have a $82.00 target price on the stock.

A number of other brokerages also recently commented on DAY. Barclays decreased 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. BMO Capital Markets reiterated an outperform rating and set a $75.00 price objective on shares of Dayforce in a research report on Tuesday, June 11th. Citigroup reduced their price objective on Dayforce from $72.00 to $66.00 and set a buy rating for the company in a research report on Tuesday, June 18th. William Blair reiterated an outperform rating on shares of Dayforce in a research report on Thursday, May 2nd. Finally, TD Cowen reduced their price objective on Dayforce from $63.00 to $53.00 and set a buy rating for the company in a research report on Friday, June 28th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $68.40.

Dayforce Stock Down 5.9 %

Shares of DAY stock opened at $53.23 on Wednesday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.07 and a current ratio of 1.07. The company has a 50 day moving average of $51.65. Dayforce has a 52 week low of $47.08 and a 52 week high of $75.53. The firm has a market capitalization of $8.41 billion, a P/E ratio of 161.31, a P/E/G ratio of 3.97 and a beta of 1.27.

Dayforce (NYSE:DAY) last issued its earnings results on Wednesday, May 1st. The company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.02). Dayforce had a net margin of 2.89% and a return on equity of 6.42%. The company had revenue of $431.50 million during the quarter, compared to analyst estimates of $426.15 million. Analysts expect that Dayforce will post 0.9 EPS for the current fiscal year.

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.