Dayforce, Inc. (NYSE:DAY) Short Interest Up 28.2% in December

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

Analysts Set New Price Targets

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

Insider Activity

In other news, EVP Samer Alkharrat sold 3,233 shares of Dayforce stock in a transaction that occurred on Friday, October 24th. The shares were sold at an average price of $68.55, for a total transaction of $221,622.15. Following the sale, the executive vice president owned 117,934 shares in the company, valued at $8,084,375.70. This trade represents a 2.67% decrease in their ownership of the stock. The transaction 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 company’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 of the company’s stock, valued at approximately $12,314,920.18. This represents a 1.11% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 62,536 shares of company stock worth $4,284,628 in the last three months. Company insiders own 4.50% of the company’s stock.

Hedge Funds Weigh In On Dayforce

Institutional investors have recently bought and sold shares of the business. MUFG Securities EMEA plc purchased a new stake in Dayforce during the second quarter worth $26,000. UMB Bank n.a. increased its holdings in shares of Dayforce by 82.6% in the 3rd quarter. UMB Bank n.a. now owns 431 shares of the company’s stock valued at $30,000 after acquiring an additional 195 shares during the period. Assetmark Inc. raised its position in shares of Dayforce by 701.4% in the 2nd quarter. Assetmark Inc. now owns 561 shares of the company’s stock worth $31,000 after acquiring an additional 491 shares in the last quarter. True Wealth Design LLC lifted its stake in shares of Dayforce by 419.1% during the 4th quarter. True Wealth Design LLC now owns 462 shares of the company’s stock worth $32,000 after purchasing an additional 373 shares during the last quarter. Finally, Quent Capital LLC purchased a new stake in shares of Dayforce during the 3rd quarter worth $34,000.

Dayforce Trading Down 0.1%

Shares of DAY traded down $0.05 during trading hours on Friday, reaching $69.21. 3,980,387 shares of the company traded hands, compared to its average volume of 2,263,909. The firm has a market cap of $11.08 billion, a price-to-earnings ratio of -73.62, a PEG ratio of 2.11 and a beta of 1.18. The stock’s fifty day moving average price is $69.14 and its 200 day moving average price is $66.02. Dayforce has a 12-month low of $48.01 and a 12-month high of $75.14. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.23.

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

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.