Scotiabank Estimates Dayforce’s FY2024 Earnings (NYSE:DAY)

Dayforce Inc (NYSE:DAY) – Equities researchers at Scotiabank issued their FY2024 earnings per share (EPS) estimates for shares of Dayforce in a note issued to investors on Wednesday, January 8th. Scotiabank analyst A. Verkhovski anticipates that the company will earn $1.06 per share for the year. Scotiabank currently has a “Sector Perform” rating and a $75.00 target price 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.

Several other equities research analysts have also weighed in on DAY. Jefferies Financial Group upped their price objective on Dayforce from $55.00 to $65.00 and gave the company a “hold” rating in a research note on Tuesday, October 22nd. Citigroup increased their price target on Dayforce from $75.00 to $81.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Piper Sandler restated an “overweight” rating and set a $94.00 price target (up from $82.00) on shares of Dayforce in a research report on Wednesday, November 13th. Needham & Company LLC increased their price target on Dayforce from $82.00 to $95.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Finally, Stifel Nicolaus increased their price target on Dayforce from $82.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Dayforce has an average rating of “Moderate Buy” and a consensus target price of $79.93.

Dayforce Trading Up 0.1 %

DAY stock opened at $70.50 on Monday. Dayforce has a 1-year low of $47.08 and a 1-year high of $82.69. The firm has a market cap of $11.12 billion, a P/E ratio of 213.64, a P/E/G ratio of 3.68 and a beta of 1.26. The business’s 50 day moving average is $76.17 and its 200-day moving average is $64.38. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.47.

Institutional Trading of Dayforce

Several hedge funds have recently added to or reduced their stakes in the business. USA Financial Formulas acquired a new stake in Dayforce during the 4th quarter worth $224,000. Assenagon Asset Management S.A. raised its stake in Dayforce by 7.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 41,842 shares of the company’s stock worth $3,039,000 after buying an additional 2,893 shares during the period. Friedenthal Financial acquired a new stake in Dayforce during the 4th quarter worth $824,000. Czech National Bank raised its stake in Dayforce by 6.2% during the 4th quarter. Czech National Bank now owns 34,193 shares of the company’s stock worth $2,484,000 after buying an additional 1,987 shares during the period. Finally, Everence Capital Management Inc. acquired a new stake in Dayforce during the 4th quarter worth $354,000.

Insiders Place Their Bets

In other news, CEO David D. Ossip sold 858,697 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $79.55, for a total value of $68,309,346.35. Following the transaction, the chief executive officer now owns 794,527 shares of the company’s stock, valued at $63,204,622.85. This represents a 51.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Stephen H. Holdridge sold 2,000 shares of the stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $69.25, for a total value of $138,500.00. Following the completion of the transaction, the chief operating officer now directly owns 98,437 shares in the company, valued at approximately $6,816,762.25. This trade represents a 1.99 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 863,697 shares of company stock valued at $68,666,106. 4.90% of the stock is currently owned by corporate 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.