FY2024 Earnings Forecast for Dayforce Issued By Scotiabank

Dayforce Inc (NYSE:DAY) – Stock analysts at Scotiabank issued their FY2024 EPS estimates for shares of Dayforce in a report issued on Wednesday, January 8th. Scotiabank analyst A. Verkhovski expects that the company will post earnings of $1.06 per share for the year. Scotiabank currently has a “Sector Perform” rating and a $75.00 target price 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.

A number of other equities analysts have also recently issued reports on the stock. KeyCorp boosted their price objective on shares of Dayforce from $80.00 to $92.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Piper Sandler reiterated an “overweight” rating and issued a $94.00 price objective (up from $82.00) on shares of Dayforce in a research report on Wednesday, November 13th. Jefferies Financial Group lifted their price objective on Dayforce from $55.00 to $65.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. Needham & Company LLC raised their price target on Dayforce from $82.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Finally, BMO Capital Markets upped their price objective on shares of Dayforce from $80.00 to $90.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Dayforce currently has a consensus rating of “Moderate Buy” and a consensus target price of $79.93.

Dayforce Price Performance

Shares of Dayforce stock opened at $70.30 on Monday. The stock has a market capitalization of $11.09 billion, a P/E ratio of 213.04, a price-to-earnings-growth ratio of 3.68 and a beta of 1.26. Dayforce has a one year low of $47.08 and a one year high of $82.69. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.15 and a quick ratio of 1.15. The business’s 50 day simple moving average is $76.40 and its two-hundred day simple moving average is $64.08.

Insiders Place Their Bets

In other Dayforce news, COO Stephen H. Holdridge sold 1,000 shares of the stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $65.00, for a total value of $65,000.00. Following the transaction, the chief operating officer now directly owns 100,437 shares in the company, valued at approximately $6,528,405. This trade represents a 0.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jeffrey Scott Jacobs sold 643 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $63.37, for a total value of $40,746.91. Following the completion of the transaction, the insider now directly owns 34,074 shares in the company, valued at approximately $2,159,269.38. This represents a 1.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 865,340 shares of company stock valued at $68,770,223. 4.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Financial Perspectives Inc bought a new position in shares of Dayforce in the second quarter worth approximately $28,000. Quent Capital LLC purchased a new position in shares of Dayforce in the third quarter valued at about $28,000. Sentry Investment Management LLC bought a new position in shares of Dayforce in the second quarter worth about $33,000. Farther Finance Advisors LLC purchased a new stake in shares of Dayforce during the third quarter worth about $40,000. Finally, Quarry LP bought a new stake in Dayforce during the 3rd quarter valued at approximately $51,000.

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.