Dayforce (NYSE:DAY) Earns Overweight Rating from Analysts at KeyCorp

KeyCorp assumed coverage on shares of Dayforce (NYSE:DAY) in a research report released on Tuesday morning, MarketBeat.com reports. The brokerage issued an overweight rating and a $70.00 price objective on the stock. KeyCorp also issued estimates for Dayforce’s Q3 2024 earnings at $0.23 EPS, Q4 2024 earnings at $0.27 EPS, FY2024 earnings at $1.03 EPS, Q1 2025 earnings at $0.43 EPS, Q2 2025 earnings at $0.30 EPS, Q3 2025 earnings at $0.33 EPS, Q4 2025 earnings at $0.35 EPS, FY2025 earnings at $1.40 EPS and FY2026 earnings at $1.89 EPS.

Several other equities research analysts have also commented on DAY. Citigroup dropped their price objective on shares of Dayforce from $72.00 to $66.00 and set a buy rating on the stock in a research note on Tuesday, June 18th. Wells Fargo & Company cut their price target 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. Piper Sandler upgraded Dayforce from a neutral rating to an overweight rating and lifted their price objective for the company from $68.00 to $71.00 in a research note on Wednesday, July 31st. Needham & Company LLC reissued a buy rating and issued a $82.00 target price on shares of Dayforce in a report on Wednesday, July 31st. Finally, TD Cowen reduced their price target on Dayforce from $63.00 to $53.00 and set a buy rating for the company in a report on Friday, June 28th. Three research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $69.36.

Dayforce Trading Up 0.5 %

DAY opened at $58.79 on Tuesday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.49. Dayforce has a 52 week low of $47.08 and a 52 week high of $75.33. The stock has a market cap of $9.29 billion, a PE ratio of 178.16, a PEG ratio of 2.12 and a beta of 1.29. The business has a 50 day moving average of $55.72 and a 200-day moving average of $57.16.

Dayforce (NYSE:DAY) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.23 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $417.41 million. Equities research analysts predict that Dayforce will post 1.08 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Dayforce

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Candriam S.C.A. bought a new stake in shares of Dayforce in the second quarter worth approximately $6,027,000. New Mexico Educational Retirement Board bought a new stake in Dayforce in the 2nd quarter worth approximately $392,000. Acadian Asset Management LLC purchased a new stake in Dayforce during the 2nd quarter valued at $287,000. Prudential PLC bought a new position in shares of Dayforce during the 2nd quarter valued at $490,000. Finally, Texas Permanent School Fund Corp bought a new position in shares of Dayforce during the 2nd quarter valued at $1,281,000.

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.