Dayforce (NYSE:DAY) Upgraded by Piper Sandler to “Overweight”

Piper Sandler upgraded shares of Dayforce (NYSE:DAY) from a neutral rating to an overweight rating in a report released on Wednesday morning, MarketBeat reports. The firm currently has $71.00 target price on the stock, up from their prior target price of $68.00.

Several other analysts have also recently commented on the company. Mizuho decreased their target price on Dayforce from $95.00 to $80.00 and set a buy rating on the stock in a report on Monday, May 6th. Piper Sandler Companies restated a neutral rating and set a $68.00 target price on shares of Dayforce in a report on Friday, May 17th. BMO Capital Markets reiterated an outperform rating and issued a $75.00 price target on shares of Dayforce in a report on Tuesday, June 11th. Needham & Company LLC reiterated a buy rating and issued a $82.00 price target on shares of Dayforce in a report on Thursday, May 2nd. Finally, William Blair reiterated an outperform rating on shares of Dayforce in a report on Thursday, May 2nd. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Dayforce has an average rating of Moderate Buy and an average price target of $68.40.

Dayforce Stock Performance

Shares of DAY stock opened at $53.23 on Wednesday. The business’s fifty day simple moving average is $51.65. The company has a quick ratio of 1.07, a current ratio of 1.11 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $8.41 billion, a PE ratio of 161.30, a PEG ratio of 3.79 and a beta of 1.27. Dayforce has a 52 week low of $47.08 and a 52 week high of $75.53.

Dayforce (NYSE:DAY) last announced its earnings results on Wednesday, May 1st. The company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.02). The business had revenue of $431.50 million for the quarter, compared to the consensus estimate of $426.15 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 0.9 earnings per share 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.