Dayforce (NYSE:DAY) Now Covered by Analysts at KeyCorp

KeyCorp began coverage on shares of Dayforce (NYSE:DAY) in a report issued on Tuesday, Marketbeat 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.

Other research analysts also recently issued research reports about the company. TD Cowen lowered their target price on Dayforce from $63.00 to $53.00 and set a buy rating for the company in a research note on Friday, June 28th. Needham & Company LLC reissued a buy rating and set a $82.00 target price on shares of Dayforce in a research note on Wednesday, July 31st. BMO Capital Markets restated an outperform rating and set a $75.00 price target on shares of Dayforce in a report on Tuesday, June 11th. Deutsche Bank Aktiengesellschaft boosted their price target on Dayforce from $70.00 to $75.00 and gave the stock a buy rating in a report on Thursday, August 1st. Finally, Citigroup reduced their price target on Dayforce from $72.00 to $66.00 and set a buy rating on the stock in a report on Tuesday, June 18th. Three equities 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 company. Based on data from MarketBeat.com, Dayforce has an average rating of Moderate Buy and a consensus target price of $69.36.

Dayforce Stock Up 2.4 %

Shares of NYSE DAY opened at $60.21 on Tuesday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49. The company has a market cap of $9.51 billion, a price-to-earnings ratio of 182.45, a PEG ratio of 2.12 and a beta of 1.29. Dayforce has a 12 month low of $47.08 and a 12 month high of $75.33. The stock has a 50-day moving average price of $55.83 and a two-hundred day moving average price of $57.17.

Dayforce (NYSE:DAY) last issued its earnings results on Wednesday, July 31st. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.18 by $0.05. The firm had revenue of $423.30 million during the quarter, compared to the consensus estimate 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 1.08 earnings per share for the current fiscal year.

Institutional Trading of Dayforce

Several institutional investors have recently added to or reduced their stakes in the stock. Creative Planning acquired a new position in Dayforce in the second quarter valued at approximately $276,000. Scientech Research LLC acquired a new position in Dayforce in the second quarter valued at approximately $1,044,000. Select Equity Group L.P. acquired a new position in Dayforce in the second quarter valued at approximately $721,310,000. Mackenzie Financial Corp acquired a new position in Dayforce in the second quarter valued at approximately $257,000. Finally, The Manufacturers Life Insurance Company acquired a new position in Dayforce in the second quarter valued at approximately $6,073,000.

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.