Dayforce Inc (NYSE:DAY) Short Interest Update

Dayforce Inc (NYSE:DAY) was the recipient of a significant decrease in short interest during the month of October. As of October 31st, there was short interest totalling 14,680,000 shares, a decrease of 6.5% from the October 15th total of 15,700,000 shares. Based on an average daily volume of 1,420,000 shares, the days-to-cover ratio is presently 10.3 days. Currently, 9.7% of the company’s stock are short sold.

Analysts Set New Price Targets

A number of analysts recently issued reports on DAY shares. Mizuho raised their price objective on shares of Dayforce from $85.00 to $95.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. BMO Capital Markets lifted their price objective on Dayforce from $80.00 to $90.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Citigroup increased their target price on shares of Dayforce from $75.00 to $81.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Jefferies Financial Group boosted their price target on shares of Dayforce from $55.00 to $65.00 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. Finally, TD Cowen upped their price target on shares of Dayforce from $58.00 to $62.00 and gave the company a “hold” rating in a research note on Monday, October 7th. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $78.77.

Insider Activity

In other Dayforce news, COO Stephen H. Holdridge sold 1,000 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $77.00, for a total value of $77,000.00. Following the completion of the sale, the chief operating officer now owns 122,022 shares in the company, valued at approximately $9,395,694. This trade represents a 0.81 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jeffrey Scott Jacobs sold 643 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $63.37, for a total value of $40,746.91. Following the completion of the transaction, the insider now directly owns 34,074 shares of the company’s stock, valued at approximately $2,159,269.38. This represents a 1.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,643 shares of company stock worth $384,617 over the last 90 days. 4.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Dayforce

Several institutional investors and hedge funds have recently modified their holdings of the business. Financial Perspectives Inc bought a new position in shares of Dayforce in the second quarter worth approximately $28,000. Quent Capital LLC purchased a new position in Dayforce in the 3rd quarter worth approximately $28,000. Sentry Investment Management LLC bought a new position in shares of Dayforce in the 2nd quarter worth $33,000. Farther Finance Advisors LLC bought a new position in shares of Dayforce in the 3rd quarter worth $40,000. Finally, Quarry LP bought a new stake in shares of Dayforce during the 3rd quarter worth $51,000.

Dayforce Trading Up 0.2 %

Dayforce stock opened at $74.70 on Tuesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.15 and a current ratio of 1.15. Dayforce has a fifty-two week low of $47.08 and a fifty-two week high of $81.32. The stock has a market cap of $11.78 billion, a P/E ratio of 226.37, a PEG ratio of 3.50 and a beta of 1.27. The firm’s fifty day moving average price is $65.44 and its 200-day moving average price is $58.15.

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.