FY2024 Earnings Estimate for Dayforce Issued By Scotiabank

Dayforce Inc (NYSE:DAY - Free Report) - Scotiabank issued their FY2024 earnings per share estimates for Dayforce in a report issued on Wednesday, January 8th. Scotiabank analyst A. Verkhovski forecasts that the company will post earnings of $1.06 per share for the year. Scotiabank currently has a "Sector Perform" rating and a $75.00 price target on the stock. The consensus estimate for Dayforce's current full-year earnings is $1.07 per share. Scotiabank also issued estimates for Dayforce's FY2025 earnings at $1.50 EPS.

A number of other research firms also recently commented on DAY. BMO Capital Markets boosted their price objective on shares of Dayforce from $80.00 to $90.00 and gave the stock an "outperform" rating in a report on Wednesday, November 13th. Needham & Company LLC lifted their price objective on Dayforce from $82.00 to $95.00 and gave the stock a "buy" rating in a report on Wednesday, November 13th. Citigroup upped their target price on Dayforce from $75.00 to $81.00 and gave the company a "buy" rating in a report on Thursday, October 31st. Barclays cut their price target on Dayforce from $84.00 to $80.00 and set an "equal weight" rating for the company in a research note on Friday. Finally, TD Cowen lifted their target price on shares of Dayforce from $58.00 to $62.00 and gave the stock a "hold" rating in a research report on Monday, October 7th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $79.93.

Dayforce Price Performance

Dayforce stock opened at $70.30 on Monday. 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 one year low of $47.08 and a one year high of $82.69. The company has a market cap of $11.09 billion, a P/E ratio of 213.04, a price-to-earnings-growth ratio of 3.68 and a beta of 1.26. The business has a fifty day moving average of $76.40 and a two-hundred day moving average of $64.08.

Insider Activity

In other Dayforce news, CEO David D. Ossip sold 858,697 shares of the business's stock in a transaction dated 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 sale, the chief executive officer now owns 794,527 shares of the company's stock, valued at approximately $63,204,622.85. The trade was a 51.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jeffrey Scott Jacobs sold 643 shares of the firm's stock in a transaction dated Tuesday, October 15th. The stock was 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 owns 34,074 shares in the company, valued at approximately $2,159,269.38. This trade represents a 1.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 865,340 shares of company stock valued at $68,770,223 over the last quarter. Company insiders own 4.90% of the company's stock.

Institutional Trading of Dayforce

A number of institutional investors and hedge funds have recently bought and sold shares of DAY. Everence Capital Management Inc. purchased a new stake in Dayforce during the 4th quarter worth $354,000. GAMMA Investing LLC grew its stake in shares of Dayforce by 52.1% in the fourth quarter. GAMMA Investing LLC now owns 2,926 shares of the company's stock valued at $213,000 after buying an additional 1,002 shares in the last quarter. Principal Financial Group Inc. purchased a new stake in shares of Dayforce during the 3rd quarter valued at about $11,135,000. Retirement Systems of Alabama purchased a new stake in shares of Dayforce during the 3rd quarter valued at about $2,105,000. Finally, Tidal Investments LLC lifted its position in Dayforce by 85.6% during the 3rd quarter. Tidal Investments LLC now owns 28,359 shares of the company's stock worth $1,737,000 after acquiring an additional 13,078 shares in the last quarter.

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.