Dayforce, Inc. (NYSE:DAY) Short Interest Update

Dayforce, Inc. (NYSE:DAY) saw a large growth in short interest in the month of December. As of December 15th, there was short interest totaling 10,057,863 shares, a growth of 84.1% from the November 30th total of 5,463,315 shares. Currently, 6.6% of the company’s shares are sold short. Based on an average daily volume of 4,488,883 shares, the days-to-cover ratio is currently 2.2 days. Based on an average daily volume of 4,488,883 shares, the days-to-cover ratio is currently 2.2 days. Currently, 6.6% of the company’s shares are sold short.

Insider Transactions at Dayforce

In other news, COO Stephen H. Holdridge sold 2,000 shares of the firm’s stock in a transaction on Friday, November 14th. The stock was sold at an average price of $68.87, for a total transaction of $137,740.00. Following the transaction, the chief operating officer owned 178,814 shares in the company, valued at approximately $12,314,920.18. This trade represents a 1.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP William Everett Mcdonald sold 1,912 shares of Dayforce stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $68.25, for a total value of $130,494.00. Following the completion of the sale, the executive vice president owned 101,772 shares of the company’s stock, valued at $6,945,939. The trade was a 1.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 70,947 shares of company stock valued at $4,859,263. Company insiders own 4.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. HighTower Advisors LLC increased its position in Dayforce by 3.5% during the 1st quarter. HighTower Advisors LLC now owns 5,931 shares of the company’s stock valued at $346,000 after buying an additional 203 shares in the last quarter. Comerica Bank grew its stake in shares of Dayforce by 17.8% during the first quarter. Comerica Bank now owns 87,251 shares of the company’s stock worth $5,089,000 after acquiring an additional 13,186 shares during the last quarter. Trexquant Investment LP purchased a new stake in shares of Dayforce during the first quarter worth about $1,452,000. PDT Partners LLC increased its holdings in shares of Dayforce by 275.8% during the first quarter. PDT Partners LLC now owns 51,113 shares of the company’s stock valued at $2,981,000 after acquiring an additional 37,513 shares in the last quarter. Finally, Amundi increased its holdings in shares of Dayforce by 25.4% during the first quarter. Amundi now owns 611,314 shares of the company’s stock valued at $34,393,000 after acquiring an additional 123,684 shares in the last quarter.

Dayforce Stock Up 0.1%

Shares of Dayforce stock opened at $69.20 on Tuesday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.23. The company has a market cap of $11.07 billion, a P/E ratio of -73.62, a PEG ratio of 2.76 and a beta of 1.20. The firm’s 50 day moving average price is $68.91 and its 200-day moving average price is $64.74. Dayforce has a 52-week low of $48.01 and a 52-week high of $75.14.

Dayforce (NYSE:DAY) last posted its earnings results on Wednesday, October 29th. The company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.19). Dayforce had a negative net margin of 7.91% and a positive return on equity of 6.54%. The firm had revenue of $481.60 million for the quarter, compared to analysts’ expectations of $481.22 million. During the same period in the previous year, the company earned $0.47 EPS. The company’s revenue was up 9.5% on a year-over-year basis. On average, sell-side analysts predict that Dayforce will post 1.48 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on DAY shares. Stifel Nicolaus reissued a “hold” rating and set a $70.00 target price (down previously from $72.00) on shares of Dayforce in a research report on Friday, September 19th. UBS Group downgraded shares of Dayforce from a “strong-buy” rating to a “hold” rating in a research note on Saturday, November 15th. Citigroup lowered shares of Dayforce from a “buy” rating to a “neutral” rating and set a $70.00 price objective on the stock. in a report on Wednesday, September 17th. Zacks Research downgraded shares of Dayforce from a “hold” rating to a “strong sell” rating in a research note on Wednesday, November 5th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Dayforce in a report on Monday, December 22nd. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, fourteen have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $70.36.

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. The company also provides payroll and payroll-related services; and implementation and professional services.