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

KeyCorp assumed coverage on shares of Dayforce (NYSE:DAY) in a research note issued to investors on Tuesday, Marketbeat.com reports. The brokerage issued an overweight rating and a $70.00 price target 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.

A number of other brokerages have also weighed in on DAY. Needham & Company LLC reaffirmed a buy rating and set a $82.00 target price on shares of Dayforce in a research report on Wednesday, July 31st. Citigroup lowered 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. TD Cowen lowered their price target on Dayforce from $63.00 to $53.00 and set a buy rating for the company in a research report on Friday, June 28th. Deutsche Bank Aktiengesellschaft increased their price target on Dayforce from $70.00 to $75.00 and gave the company a buy rating in a research report on Thursday, August 1st. Finally, Wells Fargo & Company lowered their price target on Dayforce from $64.00 to $52.00 and set an equal weight rating for the company in a research report on Friday, June 21st. Three investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Dayforce presently has a consensus rating of Moderate Buy and a consensus target price of $69.36.

Dayforce Price Performance

Shares of NYSE:DAY opened at $60.21 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 twelve month low of $47.08 and a twelve month high of $75.33. The stock’s 50 day moving average is $55.83 and its 200-day moving average is $57.17. The firm has a market capitalization 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 (NYSE:DAY) last issued its earnings results on Wednesday, July 31st. The company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.05. Dayforce had a return on equity of 6.35% and a net margin of 2.89%. The company had revenue of $423.30 million for the quarter, compared to analyst estimates of $417.41 million. Sell-side analysts forecast that Dayforce will post 1.08 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Select Equity Group L.P. bought a new position in shares of Dayforce during the 2nd quarter worth $721,310,000. EdgePoint Investment Group Inc. bought a new position in shares of Dayforce during the 2nd quarter worth $521,396,000. Dragoneer Investment Group LLC bought a new position in shares of Dayforce during the 2nd quarter worth $193,274,000. Dimensional Fund Advisors LP bought a new position in shares of Dayforce during the 2nd quarter worth $51,027,000. Finally, Cannae Holdings Inc. bought a new position in shares of Dayforce during the 2nd quarter worth $49,600,000.

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.