Dayforce Inc (NYSE:DAY) Sees Significant Growth in Short Interest

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

Dayforce Stock Down 1.8 %

Shares of DAY traded down $1.07 during trading on Wednesday, reaching $58.60. 1,521,531 shares of the company traded hands, compared to its average volume of 1,383,463. Dayforce has a twelve month low of $55.62 and a twelve month high of $75.53. The firm has a market cap of $9.12 billion, a PE ratio of 167.43, a PEG ratio of 2.93 and a beta of 1.30. The business’s 50-day moving average is $67.47. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.12 and a current ratio of 1.12.

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

Insider Transactions at Dayforce

In other news, COO Christopher R. Armstrong sold 60,000 shares of the firm’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 transaction, the chief operating officer now directly owns 149,319 shares of the company’s stock, valued at $10,323,915.66. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 4.90% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on DAY shares. Barclays cut their price objective on shares of Dayforce from $75.00 to $74.00 and set an “equal weight” rating for the company in a research report on Thursday, February 8th. Needham & Company LLC reiterated a “buy” rating and set a $82.00 price target on shares of Dayforce in a research report on Thursday, February 8th. Finally, Piper Sandler lifted their price target on shares of Dayforce from $73.00 to $75.00 and gave the company a “neutral” rating in a research report on Thursday, February 8th.

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.