Dayforce Inc (NYSE:DAY) Short Interest Down 6.5% in October

Dayforce Inc (NYSE:DAY) was the recipient of a significant decrease in short interest in October. As of October 31st, there was short interest totalling 14,680,000 shares, a decrease of 6.5% from the October 15th total of 15,700,000 shares. Currently, 9.7% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,420,000 shares, the short-interest ratio is currently 10.3 days.

Wall Street Analyst Weigh In

DAY has been the topic of a number of recent analyst reports. Mizuho lifted their target price on Dayforce from $85.00 to $95.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Dayforce from $70.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. KeyCorp raised their target price on shares of Dayforce from $80.00 to $92.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Scotiabank began coverage on shares of Dayforce in a report on Monday. They set a “sector perform” rating and a $75.00 price target for the company. Finally, Jefferies Financial Group raised their price objective on Dayforce from $55.00 to $65.00 and gave the company a “hold” rating in a report on Tuesday, October 22nd. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $78.77.

Dayforce Stock Up 0.2 %

Dayforce stock opened at $74.81 on Wednesday. The firm has a market cap of $11.80 billion, a price-to-earnings ratio of 226.70, a PEG ratio of 3.50 and a beta of 1.27. Dayforce has a 52-week low of $47.08 and a 52-week high of $81.32. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.15 and a current ratio of 1.15. The firm has a 50 day moving average price of $65.80 and a two-hundred day moving average price of $58.27.

Insiders Place Their Bets

In other Dayforce news, COO Stephen H. Holdridge sold 1,000 shares of the company’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $76.26, for a total transaction of $76,260.00. Following the completion of the sale, the chief operating officer now directly owns 121,022 shares in the company, valued at $9,229,137.72. This represents a 0.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jeffrey Scott Jacobs sold 643 shares of the firm’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $63.37, for a total value of $40,746.91. Following the completion of the sale, the insider now directly owns 34,074 shares in the company, valued at approximately $2,159,269.38. This represents a 1.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,643 shares of company stock worth $460,877 over the last ninety days. Corporate insiders own 4.90% of the company’s stock.

Hedge Funds Weigh In On Dayforce

Hedge funds have recently bought and sold shares of the company. Bleakley Financial Group LLC boosted its position in Dayforce by 9.9% during the third quarter. Bleakley Financial Group LLC now owns 4,867 shares of the company’s stock valued at $298,000 after acquiring an additional 439 shares during the last quarter. Quent Capital LLC bought a new stake in shares of Dayforce during the 3rd quarter valued at about $28,000. Financial Perspectives Inc acquired a new stake in Dayforce during the second quarter worth approximately $28,000. HighTower Advisors LLC grew its stake in Dayforce by 11.0% during the third quarter. HighTower Advisors LLC now owns 6,083 shares of the company’s stock worth $368,000 after purchasing an additional 602 shares during the period. Finally, State of New Jersey Common Pension Fund D lifted its stake in Dayforce by 1.1% in the third quarter. State of New Jersey Common Pension Fund D now owns 56,294 shares of the company’s stock valued at $3,448,000 after buying an additional 640 shares during the period.

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.