Scotiabank Has Positive Outlook of Dayforce FY2025 Earnings

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

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

A number of other brokerages also recently issued reports on DAY. Barclays decreased their price target on shares of Dayforce from $80.00 to $69.00 and set an “equal weight” rating for the company in a research note on Thursday, February 6th. Jefferies Financial Group lowered their target price on shares of Dayforce from $80.00 to $75.00 and set a “hold” rating for the company in a research note on Thursday, February 6th. Stifel Nicolaus cut their price target on Dayforce from $90.00 to $85.00 and set a “buy” rating on the stock in a research note on Thursday, February 6th. Citigroup lowered their price objective on Dayforce from $90.00 to $83.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. Finally, Piper Sandler reissued an “overweight” rating and set a $83.00 target price (down previously from $94.00) on shares of Dayforce in a research report on Wednesday, February 5th. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $77.86.

Dayforce Price Performance

Shares of NYSE DAY opened at $60.16 on Monday. The business’s fifty day simple moving average is $63.93 and its 200-day simple moving average is $67.94. The company has a current ratio of 1.13, a quick ratio of 1.15 and a debt-to-equity ratio of 0.47. The stock has a market cap of $9.52 billion, a P/E ratio of 546.96, a PEG ratio of 2.49 and a beta of 1.33. Dayforce has a 12-month low of $47.08 and a 12-month high of $82.69.

Institutional Investors Weigh In On Dayforce

Large investors have recently modified their holdings of the stock. Capital International Investors increased its stake in Dayforce by 3.9% in the 4th quarter. Capital International Investors now owns 17,659,706 shares of the company’s stock valued at $1,282,800,000 after buying an additional 667,065 shares during the period. Vanguard Group Inc. raised its holdings in Dayforce by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 17,319,275 shares of the company’s stock worth $1,258,072,000 after purchasing an additional 197,773 shares in the last quarter. Capital World Investors raised its holdings in Dayforce by 1.0% during the fourth quarter. Capital World Investors now owns 13,654,333 shares of the company’s stock worth $991,851,000 after purchasing an additional 128,578 shares in the last quarter. EdgePoint Investment Group Inc. boosted its holdings in Dayforce by 1.1% in the 3rd quarter. EdgePoint Investment Group Inc. now owns 10,624,105 shares of the company’s stock valued at $650,726,000 after purchasing an additional 112,086 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its holdings in shares of Dayforce by 1.9% in the 3rd quarter. Janus Henderson Group PLC now owns 5,669,154 shares of the company’s stock valued at $347,236,000 after buying an additional 103,794 shares during the period.

Insider Buying and Selling

In other Dayforce news, COO Stephen H. Holdridge sold 1,000 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $71.33, for a total transaction of $71,330.00. Following the completion of the sale, the chief operating officer now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.90% of the stock is owned by company insiders.

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.