Scotiabank Comments on Dayforce’s FY2024 Earnings (NYSE:DAY)

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

DAY has been the subject of a number of other research reports. KeyCorp increased their target price on Dayforce from $80.00 to $92.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Piper Sandler restated an “overweight” rating and issued a $94.00 price objective (up previously from $82.00) on shares of Dayforce in a report on Wednesday, November 13th. Needham & Company LLC raised their price objective on Dayforce from $82.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Stifel Nicolaus raised their price objective on Dayforce from $82.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Finally, Citigroup raised their price objective on Dayforce from $75.00 to $81.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Dayforce presently has a consensus rating of “Moderate Buy” and a consensus price target of $79.93.

Dayforce Price Performance

DAY stock opened at $70.50 on Monday. The stock has a 50-day moving average price of $76.17 and a two-hundred day moving average price of $64.38. The stock has a market cap of $11.12 billion, a PE ratio of 213.64, a price-to-earnings-growth ratio of 3.68 and a beta of 1.26. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.47. Dayforce has a 1 year low of $47.08 and a 1 year high of $82.69.

Institutional Investors Weigh In On Dayforce

Hedge funds have recently bought and sold shares of the stock. Financial Perspectives Inc acquired a new stake in Dayforce during the second quarter worth approximately $28,000. Quent Capital LLC acquired a new stake in Dayforce during the third quarter worth approximately $28,000. Sentry Investment Management LLC acquired a new stake in Dayforce during the second quarter worth approximately $33,000. Farther Finance Advisors LLC acquired a new stake in Dayforce during the third quarter worth approximately $40,000. Finally, Quarry LP acquired a new stake in Dayforce during the third quarter worth approximately $51,000.

Insider Buying and Selling

In related news, CEO David D. Ossip sold 858,697 shares of Dayforce stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $79.55, for a total transaction of $68,309,346.35. Following the completion of the transaction, the chief executive officer now owns 794,527 shares in the company, valued at approximately $63,204,622.85. This trade represents a 51.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Stephen H. Holdridge sold 1,000 shares of Dayforce stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $77.00, for a total value of $77,000.00. Following the transaction, the chief operating officer now owns 122,022 shares of the company’s stock, valued at $9,395,694. The trade was a 0.81 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 863,697 shares of company stock worth $68,666,106. Company insiders own 4.90% of the company’s stock.

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.