Dayforce, Inc. (NYSE:DAY) Sees Significant Growth in Short Interest
by Michael Walen · The Markets DailyDayforce, Inc. (NYSE:DAY – Get Free Report) saw a large increase in short interest in the month of December. As of December 31st, there was short interest totaling 12,894,380 shares, an increase of 28.2% from the December 15th total of 10,057,863 shares. Based on an average daily volume of 1,928,044 shares, the days-to-cover ratio is presently 6.7 days. Currently, 8.4% of the shares of the company are sold short. Currently, 8.4% of the shares of the company are sold short. Based on an average daily volume of 1,928,044 shares, the days-to-cover ratio is presently 6.7 days.
Insider Activity at Dayforce
In other news, COO Stephen H. Holdridge sold 2,000 shares of Dayforce stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $68.87, for a total transaction of $137,740.00. Following the transaction, the chief operating officer directly owned 178,814 shares of the company’s stock, valued at $12,314,920.18. The trade was a 1.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Samer Alkharrat sold 3,233 shares of the business’s stock in a transaction that occurred on Friday, October 24th. The shares were sold at an average price of $68.55, for a total value of $221,622.15. Following the transaction, the executive vice president owned 117,934 shares of the company’s stock, valued at approximately $8,084,375.70. This trade represents a 2.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 62,536 shares of company stock worth $4,284,628. Corporate insiders own 4.50% of the company’s stock.
Institutional Investors Weigh In On Dayforce
Large investors have recently added to or reduced their stakes in the stock. Greenland Capital Management LP bought a new stake in shares of Dayforce during the second quarter worth $3,264,000. Charles Schwab Investment Management Inc. increased its stake in Dayforce by 3.1% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,506,214 shares of the company’s stock worth $83,429,000 after buying an additional 45,623 shares during the period. Andra AP fonden increased its stake in Dayforce by 799.6% in the 2nd quarter. Andra AP fonden now owns 35,578 shares of the company’s stock worth $1,971,000 after buying an additional 31,623 shares during the period. Future Fund LLC purchased a new stake in Dayforce in the 2nd quarter valued at about $928,000. Finally, Prudential Financial Inc. grew its stake in Dayforce by 11.3% in the 2nd quarter. Prudential Financial Inc. now owns 93,342 shares of the company’s stock worth $5,170,000 after acquiring an additional 9,464 shares in the last quarter.
Analyst Ratings Changes
Several analysts recently issued reports on the company. Zacks Research upgraded Dayforce from a “strong sell” rating to a “hold” rating in a research report on Tuesday, December 30th. Needham & Company LLC restated a “hold” rating on shares of Dayforce in a research note on Thursday, October 30th. UBS Group cut shares of Dayforce from a “strong-buy” rating to a “hold” rating in a research report on Saturday, November 15th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Dayforce in a report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, fifteen have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $70.36.
Read Our Latest Stock Analysis on DAY
Dayforce Price Performance
Shares of DAY traded down $0.05 during mid-day trading on Monday, hitting $69.21. 3,980,387 shares of the stock were exchanged, compared to its average volume of 2,321,687. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.04 and a current ratio of 1.04. The company has a market cap of $11.08 billion, a PE ratio of -73.62, a price-to-earnings-growth ratio of 2.11 and a beta of 1.18. Dayforce has a 52-week low of $48.01 and a 52-week high of $75.14. The firm has a 50-day moving average of $69.15 and a two-hundred day moving average of $66.11.
Dayforce (NYSE:DAY – Get Free Report) last announced its quarterly earnings results on Wednesday, October 29th. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.19). Dayforce had a positive return on equity of 6.54% and a negative net margin of 7.91%.The business had revenue of $481.60 million during the quarter, compared to the consensus estimate of $481.22 million. During the same quarter in the prior year, the firm posted $0.47 EPS. The company’s revenue for the quarter was up 9.5% on a year-over-year basis. On average, equities analysts predict that Dayforce will post 1.48 earnings per share for the current year.
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. The company also provides payroll and payroll-related services; and implementation and professional services.