Dayforce Inc (NYSE:DAY) Short Interest Update

Dayforce Inc (NYSE:DAY) was the target of a large decline in short interest in February. As of February 28th, there was short interest totalling 6,900,000 shares, a decline of 19.6% from the February 13th total of 8,580,000 shares. Based on an average daily volume of 1,700,000 shares, the days-to-cover ratio is currently 4.1 days. Approximately 4.5% of the company’s stock are short sold.

Dayforce Price Performance

NYSE DAY opened at $56.92 on Tuesday. The company has a market cap of $9.05 billion, a PE ratio of 517.54, a price-to-earnings-growth ratio of 2.49 and a beta of 1.33. Dayforce has a 52 week low of $47.08 and a 52 week high of $82.69. The company has a quick ratio of 1.15, a current ratio of 1.13 and a debt-to-equity ratio of 0.47. The firm’s 50-day simple moving average is $65.36 and its two-hundred day simple moving average is $67.81.

Dayforce (NYSE:DAY) last released its quarterly earnings data on Wednesday, February 5th. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.09). Dayforce had a net margin of 1.03% and a return on equity of 6.49%. Research analysts predict that Dayforce will post 1.48 earnings per share for the current year.

Insider Buying and Selling at Dayforce

In other Dayforce news, COO Stephen H. Holdridge sold 1,000 shares of the business’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $71.33, for a total transaction of $71,330.00. Following the completion of the sale, the chief operating officer now owns 119,022 shares in the company, valued at approximately $8,489,839.26. The trade was a 0.83 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 4.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Dayforce

Institutional investors and hedge funds have recently modified their holdings of the company. Quarry LP purchased a new stake in shares of Dayforce in the third quarter worth about $51,000. Harvest Fund Management Co. Ltd purchased a new stake in shares of Dayforce in the fourth quarter worth about $61,000. Federated Hermes Inc. bought a new position in shares of Dayforce in the fourth quarter worth approximately $72,000. AlphaQuest LLC increased its position in shares of Dayforce by 14,800.0% in the fourth quarter. AlphaQuest LLC now owns 1,043 shares of the company’s stock worth $76,000 after purchasing an additional 1,036 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its position in shares of Dayforce by 69.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,227 shares of the company’s stock worth $89,000 after purchasing an additional 501 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on DAY shares. Jefferies Financial Group reduced their target price on shares of Dayforce from $80.00 to $75.00 and set a “hold” rating for the company in a research note on Thursday, February 6th. TD Cowen upgraded shares of Dayforce from a “hold” rating to a “buy” rating and upped their target price for the stock from $67.00 to $68.00 in a research note on Friday, March 7th. Barclays reduced their target price on shares of Dayforce from $80.00 to $69.00 and set an “equal weight” rating for the company in a research note on Thursday, February 6th. Stifel Nicolaus reduced their target price on shares of Dayforce from $90.00 to $85.00 and set a “buy” rating for the company in a research note on Thursday, February 6th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $83.00 target price (down previously from $94.00) on shares of Dayforce in a research note on Wednesday, February 5th. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $77.86.

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.