Dayforce (NYSE:DAY) Rating Increased to Overweight at Piper Sandler

Dayforce (NYSE:DAY) was upgraded by Piper Sandler from a “neutral” rating to an “overweight” rating in a research report issued on Wednesday, Briefing.com reports. The brokerage currently has a $71.00 target price on the stock, up from their prior target price of $68.00. Piper Sandler’s target price points to a potential upside of 17.65% from the company’s previous close.

Other equities research analysts have also recently issued reports about the stock. Piper Sandler Companies reiterated a “neutral” rating and issued a $68.00 price target on shares of Dayforce in a research report on Friday, May 17th. Needham & Company LLC reiterated a “buy” rating and issued a $82.00 price target on shares of Dayforce in a research report on Thursday, May 2nd. Citigroup dropped their price target on shares of 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 cut their price objective on Dayforce from $63.00 to $53.00 and set a “buy” rating on the stock in a report on Friday, June 28th. Finally, William Blair restated 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 seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Dayforce currently has an average rating of “Moderate Buy” and an average price target of $67.67.

Dayforce Price Performance

Shares of NYSE:DAY traded up $6.67 during midday trading on Wednesday, reaching $60.35. The company had a trading volume of 2,790,131 shares, compared to its average volume of 1,637,837. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.07 and a quick ratio of 1.07. The company’s fifty day simple moving average is $51.87. The stock has a market cap of $9.53 billion, a PE ratio of 179.19, a P/E/G ratio of 3.59 and a beta of 1.27. Dayforce has a one year low of $47.08 and a one year high of $75.53.

Dayforce (NYSE:DAY) last released its earnings results on Wednesday, May 1st. The company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.02). Dayforce had a net margin of 3.30% and a return on equity of 5.38%. The business had revenue of $431.50 million for the quarter, compared to the consensus estimate of $426.15 million. 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.