Scotiabank Has Bullish Outlook for Dayforce FY2025 Earnings

Dayforce Inc (NYSE:DAY) – Equities research analysts at Scotiabank raised their FY2025 earnings per share (EPS) estimates for shares of Dayforce in a report released on Wednesday, March 19th. Scotiabank analyst A. Verkhovski now expects that the company will post earnings of $1.54 per share for the year, up from their previous forecast of $1.50. Scotiabank currently has a “Sector Perform” rating and a $55.00 target price on the stock. The consensus estimate for Dayforce’s current full-year earnings is $1.48 per share.

DAY has been the topic of several other reports. Needham & Company LLC restated a “buy” rating and issued a $95.00 price objective on shares of Dayforce in a research report on Thursday, February 6th. Citigroup lowered their price target on shares of Dayforce from $90.00 to $83.00 and set a “buy” rating for the company in a report on Thursday, January 16th. Barclays decreased their target price on shares of Dayforce from $80.00 to $69.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 6th. Piper Sandler reiterated an “overweight” rating and issued a $83.00 price target (down from $94.00) on shares of Dayforce in a report on Wednesday, February 5th. Finally, Cowen raised Dayforce from a “hold” rating to a “buy” rating in a research note on Friday, March 7th. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $77.86.

Dayforce Price Performance

Dayforce stock opened at $60.16 on Monday. Dayforce has a 52 week low of $47.08 and a 52 week high of $82.69. The company has a quick ratio of 1.15, a current ratio of 1.13 and a debt-to-equity ratio of 0.47. The firm’s 50-day simple moving average is $63.93 and its 200 day simple moving average is $67.94. The firm has a market capitalization of $9.52 billion, a PE ratio of 546.96, a P/E/G ratio of 2.49 and a beta of 1.33.

Dayforce (NYSE:DAY) last posted its earnings results on Wednesday, February 5th. The company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.09). Dayforce had a return on equity of 6.49% and a net margin of 1.03%.

Institutional Trading of Dayforce

A number of institutional investors have recently added to or reduced their stakes in DAY. Quarry LP acquired a new position in shares of Dayforce during the third quarter worth about $51,000. Harvest Fund Management Co. Ltd acquired a new position in Dayforce during the 4th quarter worth approximately $61,000. Federated Hermes Inc. purchased a new position in Dayforce in the 4th quarter worth approximately $72,000. AlphaQuest LLC grew its position in Dayforce by 14,800.0% in the fourth quarter. AlphaQuest LLC now owns 1,043 shares of the company’s stock valued at $76,000 after acquiring an additional 1,036 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its stake in shares of Dayforce by 69.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,227 shares of the company’s stock valued at $89,000 after purchasing an additional 501 shares during the period.

Insider Transactions at Dayforce

In other news, COO Stephen H. Holdridge sold 1,000 shares of the firm’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $71.33, for a total value of $71,330.00. Following the transaction, the chief operating officer now owns 119,022 shares of the company’s stock, valued at approximately $8,489,839.26. This trade represents a 0.83 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 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.