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

Dayforce Inc (NYSE:DAY) was the target of a large increase in short interest in the month of 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 volume of 1,400,000 shares, the days-to-cover ratio is currently 6.9 days.

Analyst Ratings Changes

Several research firms recently commented on DAY. Barclays decreased their price objective on shares of Dayforce from $75.00 to $74.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 8th. Piper Sandler upped their target price on shares of Dayforce from $73.00 to $75.00 and gave the company a “neutral” rating in a report on Thursday, February 8th. Finally, Needham & Company LLC restated a “buy” rating and issued a $82.00 target price on shares of Dayforce in a report on Thursday, February 8th.

Dayforce Price Performance

NYSE:DAY traded down $1.07 on Wednesday, reaching $58.60. The stock had a trading volume of 1,521,531 shares, compared to its average volume of 1,383,463. The stock has a market cap of $9.12 billion, a P/E ratio of 167.43, a price-to-earnings-growth ratio of 2.93 and a beta of 1.30. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.50. The stock’s fifty day simple moving average is $67.47. Dayforce has a 12-month low of $55.62 and a 12-month high of $75.53.

Dayforce (NYSE:DAY) last released its earnings results on Wednesday, February 7th. The company reported $0.38 earnings per share (EPS) 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 company had revenue of $399.70 million for the quarter, compared to analyst estimates of $400.14 million. As a group, research analysts forecast that Dayforce will post 0.85 earnings per share for the current fiscal year.

Insider Transactions at Dayforce

In related 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 sale, the chief operating officer now directly owns 149,319 shares in the company, valued at approximately $10,323,915.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 4.90% of the company’s stock.

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.