Dayforce (NYSE:DAY – Free Report) had its target price boosted by Citigroup from $74.00 to $75.00 in a report released on Wednesday, Benzinga reports. Citigroup currently has a buy rating on the stock.
Several other research analysts have also recently issued reports on the company. KeyCorp initiated coverage on Dayforce in a research report on Tuesday, September 24th. They set an overweight rating and a $70.00 price objective for the company. Piper Sandler upgraded shares of Dayforce from a neutral rating to an overweight rating and increased their price target for the company from $68.00 to $71.00 in a research note on Wednesday, July 31st. Needham & Company LLC restated a buy rating and set a $82.00 price objective on shares of Dayforce in a research report on Wednesday, July 31st. TD Cowen dropped their target price on shares of Dayforce from $63.00 to $53.00 and set a buy rating on the stock in a research report on Friday, June 28th. Finally, Wells Fargo & Company cut their price target on shares of Dayforce from $64.00 to $52.00 and set an equal weight rating on the stock in a research note on Friday, June 21st. Three research 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 company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $69.36.
View Our Latest Analysis on Dayforce
Dayforce Stock Performance
Dayforce (NYSE:DAY – Get Free Report) last posted its quarterly 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 business had revenue of $423.30 million during the quarter, compared to the consensus estimate of $417.41 million. Dayforce had a net margin of 2.89% and a return on equity of 6.35%. As a group, analysts anticipate that Dayforce will post 1.08 EPS for the current year.
Hedge Funds Weigh In On Dayforce
A number of institutional investors have recently modified their holdings of DAY. Select Equity Group L.P. acquired a new position in shares of Dayforce during the 2nd quarter valued at about $721,310,000. EdgePoint Investment Group Inc. acquired a new position in Dayforce during the second quarter worth approximately $521,396,000. Dragoneer Investment Group LLC purchased a new position in Dayforce during the second quarter worth approximately $193,274,000. Dimensional Fund Advisors LP acquired a new position in shares of Dayforce in the 2nd quarter valued at $51,027,000. Finally, Cannae Holdings Inc. purchased a new stake in shares of Dayforce during the 2nd quarter valued at $49,600,000.
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.
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