Scotiabank Has Positive Outlook for Dayforce FY2025 Earnings

Dayforce Inc (NYSE:DAY - Free Report) - Investment analysts at Scotiabank upped their FY2025 earnings estimates for Dayforce in a report released on Wednesday, March 19th. Scotiabank analyst A. Verkhovski now forecasts that the company will post earnings of $1.54 per share for the year, up from their prior forecast of $1.50. Scotiabank currently has a "Sector Perform" rating and a $55.00 target price on the stock. The consensus estimate for Dayforce's current full-year earnings is $1.48 per share.

Several other equities analysts have also commented on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $80.00 price target (down previously from $85.00) on shares of Dayforce in a research report on Wednesday, January 8th. Needham & Company LLC restated a "buy" rating and set a $95.00 price objective on shares of Dayforce in a report on Thursday, February 6th. TD Cowen raised Dayforce from a "hold" rating to a "buy" rating and increased their target price for the stock from $67.00 to $68.00 in a research report on Friday, March 7th. Piper Sandler reissued an "overweight" rating and set a $83.00 price target (down previously from $94.00) on shares of Dayforce in a research report on Wednesday, February 5th. Finally, Stifel Nicolaus cut their price objective on Dayforce from $90.00 to $85.00 and set a "buy" rating on the stock in a report on Thursday, February 6th. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $77.86.

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Dayforce Trading Up 0.1 %

Shares of NYSE DAY traded up $0.04 on Monday, reaching $59.71. 1,186,052 shares of the company traded hands, compared to its average volume of 1,681,518. The stock has a market capitalization of $9.45 billion, a PE ratio of 542.83, a P/E/G ratio of 2.49 and a beta of 1.33. Dayforce has a fifty-two week low of $47.08 and a fifty-two week high of $82.69. The company has a current ratio of 1.13, a quick ratio of 1.15 and a debt-to-equity ratio of 0.47. The company has a 50 day moving average of $63.72 and a 200 day moving average of $67.88.

Dayforce (NYSE:DAY - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.09). Dayforce had a net margin of 1.03% and a return on equity of 6.49%.

Institutional Trading of Dayforce

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. FMR LLC grew its holdings in Dayforce by 382.5% during the 4th quarter. FMR LLC now owns 3,215,123 shares of the company's stock worth $233,547,000 after acquiring an additional 2,548,779 shares in the last quarter. Capital International Investors boosted its stake in Dayforce by 3.9% in the fourth quarter. Capital International Investors now owns 17,659,706 shares of the company's stock valued at $1,282,800,000 after acquiring an additional 667,065 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Dayforce by 18,250.4% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 660,613 shares of the company's stock valued at $47,890,000 after purchasing an additional 657,013 shares during the last quarter. California Public Employees Retirement System grew its holdings in shares of Dayforce by 189.0% during the fourth quarter. California Public Employees Retirement System now owns 567,561 shares of the company's stock valued at $41,228,000 after purchasing an additional 371,153 shares during the last quarter. Finally, Northern Trust Corp raised its position in shares of Dayforce by 21.5% during the 4th quarter. Northern Trust Corp now owns 1,544,475 shares of the company's stock worth $112,191,000 after purchasing an additional 273,031 shares during the period.

Insider Buying and Selling

In other news, COO Stephen H. Holdridge sold 1,000 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $71.33, for a total transaction of $71,330.00. Following the completion of the transaction, the chief operating officer now directly owns 119,022 shares in the company, valued at approximately $8,489,839.26. This represents a 0.83 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 4.90% of the stock is currently owned by insiders.

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.