Short Interest in Dayforce, Inc. (NYSE:DAY) Rises By 28.2%

Dayforce, Inc. (NYSE:DAY) was the recipient of a significant growth in short interest during the month of December. As of December 31st, there was short interest totaling 12,894,380 shares, a growth of 28.2% from the December 15th total of 10,057,863 shares. Based on an average daily volume of 1,928,044 shares, the days-to-cover ratio is currently 6.7 days. Currently, 8.4% of the company’s shares are short sold. Currently, 8.4% of the company’s shares are short sold. Based on an average daily volume of 1,928,044 shares, the days-to-cover ratio is currently 6.7 days.

Insider Activity

In other Dayforce news, major shareholder Price T. Rowe Associates Inc /M sold 10,147 shares of the stock in a transaction on Friday, October 31st. The shares were sold at an average price of $68.74, for a total transaction of $697,504.78. Following the completion of the sale, the insider owned 24,743,271 shares of the company’s stock, valued at $1,700,852,448.54. This represents a 0.04% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Stephen H. Holdridge sold 2,000 shares of the business’s stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $68.87, for a total transaction of $137,740.00. Following the completion of the transaction, the chief operating officer owned 178,814 shares in the company, valued at $12,314,920.18. The trade was a 1.11% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 62,536 shares of company stock valued at $4,284,628. 4.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Dayforce

A number of large investors have recently added to or reduced their stakes in DAY. UMB Bank n.a. lifted its position in Dayforce by 82.6% during the third quarter. UMB Bank n.a. now owns 431 shares of the company’s stock valued at $30,000 after purchasing an additional 195 shares in the last quarter. True Wealth Design LLC raised its stake in shares of Dayforce by 419.1% in the fourth quarter. True Wealth Design LLC now owns 462 shares of the company’s stock worth $32,000 after buying an additional 373 shares during the period. MUFG Securities EMEA plc bought a new position in shares of Dayforce in the second quarter worth about $26,000. Quent Capital LLC purchased a new position in shares of Dayforce during the 3rd quarter valued at about $34,000. Finally, Assetmark Inc. grew its stake in shares of Dayforce by 701.4% during the 2nd quarter. Assetmark Inc. now owns 561 shares of the company’s stock valued at $31,000 after acquiring an additional 491 shares during the period.

Wall Street Analyst Weigh In

Several brokerages have commented on DAY. Needham & Company LLC restated a “hold” rating on shares of Dayforce in a report on Thursday, October 30th. Weiss Ratings reissued a “sell (d)” rating on shares of Dayforce in a research note on Monday, December 29th. UBS Group lowered shares of Dayforce from a “strong-buy” rating to a “hold” rating in a report on Saturday, November 15th. Finally, Zacks Research upgraded Dayforce from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 30th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $70.36.

Dayforce Stock Down 0.1%

Shares of DAY traded down $0.05 on Friday, hitting $69.21. 3,980,387 shares of the stock traded hands, compared to its average volume of 2,263,909. Dayforce has a one year low of $48.01 and a one year high of $75.14. The company has a market capitalization of $11.08 billion, a PE ratio of -73.62, a P/E/G ratio of 2.11 and a beta of 1.18. The business has a 50 day simple moving average of $69.14 and a 200 day simple moving average of $66.02. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.04 and a current ratio of 1.04.

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 positive return on equity of 6.54% and a negative net margin of 7.91%.The business had revenue of $481.60 million during the quarter, compared to the consensus estimate of $481.22 million. During the same period in the previous year, the business posted $0.47 EPS. The firm’s revenue for the quarter was up 9.5% on a year-over-year basis. As a group, equities analysts forecast that Dayforce will post 1.48 earnings per share for the current fiscal year.

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