Short Interest in Dayforce Inc (NYSE:DAY) Expands By 15.2%

Dayforce Inc (NYSE:DAY) saw a significant increase in short interest in the month of June. As of June 30th, there was short interest totalling 15,700,000 shares, an increase of 15.2% from the June 15th total of 13,630,000 shares. Based on an average trading volume of 1,790,000 shares, the short-interest ratio is presently 8.8 days. Approximately 10.1% of the shares of the company are short sold.

Dayforce Price Performance

Shares of NYSE:DAY remained flat at $55.61 during trading on Wednesday. 1,909,340 shares of the stock were exchanged, compared to its average volume of 1,600,476. The stock’s fifty day moving average is $53.54. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.07 and a current ratio of 1.07. The company has a market cap of $8.78 billion, a price-to-earnings ratio of 168.52, a price-to-earnings-growth ratio of 3.61 and a beta of 1.27. Dayforce has a 12 month low of $47.08 and a 12 month high of $75.53.

Dayforce (NYSE:DAY) last announced its earnings results on Wednesday, May 1st. The company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.02). The firm had revenue of $431.50 million for the quarter, compared to the consensus estimate of $426.15 million. Dayforce had a return on equity of 5.38% and a net margin of 3.30%. On average, research analysts forecast that Dayforce will post 0.9 EPS for the current year.

Analysts Set New Price Targets

DAY has been the subject of a number of recent research reports. Piper Sandler Companies restated a “neutral” rating and set a $68.00 price objective on shares of Dayforce in a research note on Friday, May 17th. Wells Fargo & Company lowered their price target on shares of Dayforce from $64.00 to $52.00 and set an “equal weight” rating for the company in a research report on Friday, June 21st. BMO Capital Markets reiterated an “outperform” rating and issued a $75.00 price objective on shares of Dayforce in a research report on Tuesday, June 11th. Barclays decreased their target price on shares of Dayforce from $74.00 to $62.00 and set an “equal weight” rating for the company in a research report on Thursday, May 2nd. Finally, TD Cowen cut their price target on Dayforce from $63.00 to $53.00 and set a “buy” rating on the stock in a report on Friday, June 28th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Dayforce presently has an average rating of “Moderate Buy” and an average target price of $67.33.

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.