Dayforce (NYSE:DAY) Given New $80.00 Price Target at Mizuho

Dayforce (NYSE:DAY) had its target price reduced by Mizuho from $95.00 to $80.00 in a report published on Tuesday morning,Benzinga reports. They currently have an outperform rating on the stock.

Several other research analysts also recently weighed in on the stock. Piper Sandler restated an “overweight” rating and set a $83.00 price objective (down previously from $94.00) on shares of Dayforce in a report on Wednesday, February 5th. Needham & Company LLC restated a “buy” rating and issued a $95.00 target price on shares of Dayforce in a report on Thursday, February 6th. Jefferies Financial Group cut their price target on Dayforce from $80.00 to $75.00 and set a “hold” rating for the company in a research note on Thursday, February 6th. Citigroup lowered their price objective on Dayforce from $90.00 to $83.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Finally, Cowen raised Dayforce from a “hold” rating to a “buy” rating in a research report on Friday, March 7th. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Dayforce currently has an average rating of “Moderate Buy” and an average price target of $76.79.

Dayforce Price Performance

DAY stock opened at $55.77 on Tuesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.13 and a quick ratio of 1.15. The company’s 50-day moving average is $58.96 and its 200-day moving average is $67.42. The stock has a market capitalization of $8.83 billion, a PE ratio of 507.02, a price-to-earnings-growth ratio of 2.49 and a beta of 1.20. Dayforce has a 1 year low of $47.08 and a 1 year high of $82.69.

Dayforce (NYSE:DAY) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.09). Dayforce had a net margin of 1.03% and a return on equity of 6.49%. Equities research analysts expect that Dayforce will post 1.48 EPS for the current fiscal year.

Institutional Investors Weigh In On Dayforce

Several large investors have recently modified their holdings of DAY. Capital International Investors lifted its stake in Dayforce by 3.9% in the fourth quarter. Capital International Investors now owns 17,659,706 shares of the company’s stock valued at $1,282,800,000 after purchasing an additional 667,065 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Dayforce by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 17,319,275 shares of the company’s stock valued at $1,258,072,000 after buying an additional 197,773 shares during the period. Capital World Investors lifted its position in shares of Dayforce by 1.0% during the 4th quarter. Capital World Investors now owns 13,654,333 shares of the company’s stock valued at $991,851,000 after buying an additional 128,578 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Dayforce by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 3,839,645 shares of the company’s stock worth $278,193,000 after acquiring an additional 57,621 shares during the period. Finally, FMR LLC increased its holdings in Dayforce by 382.5% in the 4th quarter. FMR LLC now owns 3,215,123 shares of the company’s stock worth $233,547,000 after acquiring an additional 2,548,779 shares during the last quarter.

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.