Piper Sandler Upgrades Dayforce (NYSE:DAY) to Overweight

Dayforce (NYSE:DAY) was upgraded by equities research analysts at Piper Sandler from a “neutral” rating to an “overweight” rating in a report released on Wednesday, Briefing.com reports. The firm presently has a $71.00 price objective on the stock, up from their prior price objective of $68.00. Piper Sandler’s target price points to a potential upside of 17.65% from the stock’s current price.

Other analysts have also issued reports about the company. Wells Fargo & Company dropped their target price on Dayforce from $64.00 to $52.00 and set an “equal weight” rating on the stock in a report on Friday, June 21st. Piper Sandler Companies reaffirmed a “neutral” rating and set a $68.00 target price on shares of Dayforce in a report on Friday, May 17th. Mizuho dropped 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. Citigroup reduced their target price on Dayforce from $72.00 to $66.00 and set a “buy” rating on the stock in a research report on Tuesday, June 18th. Finally, Barclays reduced their target price on Dayforce from $74.00 to $62.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 2nd. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $67.67.

Dayforce Stock Up 12.4 %

Shares of NYSE:DAY traded up $6.67 during trading on Wednesday, hitting $60.35. The stock had a trading volume of 2,790,131 shares, compared to its average volume of 1,637,837. Dayforce has a 12-month low of $47.08 and a 12-month high of $75.53. The firm has a market capitalization of $9.53 billion, a PE ratio of 179.19, a price-to-earnings-growth ratio of 3.59 and a beta of 1.27. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.50. The business’s 50-day moving average price is $51.87.

Dayforce (NYSE:DAY) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.02). The firm had revenue of $431.50 million during the quarter, compared to analysts’ expectations of $426.15 million. Dayforce had a return on equity of 5.38% and a net margin of 3.30%. As a group, sell-side analysts forecast that Dayforce will post 0.9 earnings per share for the current year.

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.