Dayforce Inc (NYSE:DAY) Short Interest Up 9.6% in March

Dayforce Inc (NYSE:DAY) was the target of a significant growth in short interest in March. As of March 31st, there was short interest totalling 9,690,000 shares, a growth of 9.6% from the March 15th total of 8,840,000 shares. Based on an average daily volume of 1,400,000 shares, the days-to-cover ratio is currently 6.9 days. Approximately 6.5% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $82.00 price target on shares of Dayforce in a research report on Thursday, February 8th. Piper Sandler lifted their target price on Dayforce from $73.00 to $75.00 and gave the stock a “neutral” rating in a report on Thursday, February 8th. Finally, Barclays cut their price target on shares of Dayforce from $75.00 to $74.00 and set an “equal weight” rating on the stock in a report on Thursday, February 8th.

Dayforce Price Performance

DAY stock traded down $1.07 during midday trading on Wednesday, hitting $58.60. 1,521,531 shares of the stock traded hands, compared to its average volume of 1,383,463. Dayforce has a 1-year low of $55.62 and a 1-year high of $75.53. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.12 and a current ratio of 1.12. The company’s fifty day moving average is $67.47. The firm has a market capitalization of $9.12 billion, a price-to-earnings ratio of 167.43, a P/E/G ratio of 2.93 and a beta of 1.30.

Dayforce (NYSE:DAY) last issued its quarterly earnings data on Wednesday, February 7th. The company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.12 by $0.26. The company had revenue of $399.70 million for the quarter, compared to analyst estimates of $400.14 million. Dayforce had a return on equity of 4.47% and a net margin of 3.62%. On average, research analysts predict that Dayforce will post 0.85 earnings per share for the current year.

Insiders Place Their Bets

In other Dayforce news, COO Christopher R. Armstrong sold 60,000 shares of the business’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $69.14, for a total value of $4,148,400.00. Following the completion of the transaction, the chief operating officer now directly owns 149,319 shares in the company, valued at $10,323,915.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.90% of the stock is currently owned by corporate insiders.

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.