Dayforce Inc (NYSE:DAY) Short Interest Update

Dayforce Inc (NYSE:DAY - Get Free Report) was the target of a large decrease in short interest in November. As of November 30th, there was short interest totalling 11,000,000 shares, a decrease of 15.8% from the November 15th total of 13,070,000 shares. Based on an average daily volume of 1,540,000 shares, the days-to-cover ratio is presently 7.1 days. Approximately 7.4% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. KeyCorp lifted their target price on shares of Dayforce from $80.00 to $92.00 and gave the company an "overweight" rating in a report on Wednesday, November 13th. Scotiabank started coverage on shares of Dayforce in a report on Monday, November 18th. They issued a "sector perform" rating and a $75.00 price objective for the company. 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 note on Thursday, October 31st. Piper Sandler restated an "overweight" rating and issued a $94.00 price target (up previously from $82.00) on shares of Dayforce in a research note on Wednesday, November 13th. Finally, Barclays raised their price objective on Dayforce from $80.00 to $84.00 and gave the company an "equal weight" rating in a report on Friday, December 6th. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $79.08.

Dayforce Price Performance

DAY stock traded up $0.17 during midday trading on Monday, reaching $77.34. The stock had a trading volume of 1,462,341 shares, compared to its average volume of 1,601,344. Dayforce has a 52-week low of $47.08 and a 52-week high of $82.69. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.47. The company's fifty day simple moving average is $73.09 and its 200 day simple moving average is $60.85. The company has a market cap of $12.20 billion, a price-to-earnings ratio of 233.85, a price-to-earnings-growth ratio of 3.68 and a beta of 1.26.

Insider Buying and Selling at Dayforce

In related news, insider Jeffrey Scott Jacobs sold 643 shares of Dayforce stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $63.37, for a total transaction of $40,746.91. Following the completion of the sale, the insider now owns 34,074 shares of the company's stock, valued at $2,159,269.38. The trade was a 1.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO David D. Ossip sold 858,697 shares of the stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $79.55, for a total transaction of $68,309,346.35. Following the completion of the transaction, the chief executive officer now owns 794,527 shares in the company, valued at approximately $63,204,622.85. This trade represents a 51.94 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 865,340 shares of company stock worth $68,770,223. 4.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Dayforce

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

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.

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