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

Dayforce Inc (NYSE:DAY - Get Free Report) was the target of a significant growth in short interest in the month of March. As of March 31st, there was short interest totalling 9,690,000 shares, a growth of 9.6% from the March 15th total of 8,840,000 shares. Currently, 6.5% of the company's stock are sold short. Based on an average trading volume of 1,400,000 shares, the days-to-cover ratio is currently 6.9 days.

Analyst Upgrades and Downgrades

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

Insider Transactions at Dayforce

In other news, COO Christopher R. Armstrong sold 60,000 shares of the company's stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $69.14, for a total transaction of $4,148,400.00. Following the sale, the chief operating officer now owns 149,319 shares of the company's stock, valued at $10,323,915.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 4.90% of the company's stock.

Dayforce Stock Performance

NYSE DAY traded down $0.97 during trading hours on Monday, hitting $59.67. The company had a trading volume of 1,139,073 shares, compared to its average volume of 1,368,012. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.50. Dayforce has a 1-year low of $55.62 and a 1-year high of $75.53. The stock has a market cap of $9.28 billion, a P/E ratio of 173.35, a PEG ratio of 2.97 and a beta of 1.30. The firm has a 50 day moving average of $67.92.

Dayforce (NYSE:DAY - Get Free Report) last released its quarterly earnings data on Wednesday, February 7th. The company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $400.14 million. Sell-side analysts expect that Dayforce will post 0.85 earnings per share for the current fiscal year.

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.