Scotiabank Has Strong Forecast for Dayforce FY2025 Earnings

Dayforce Inc (NYSE:DAY) – Scotiabank lifted their FY2025 earnings estimates for Dayforce in a note issued to investors on Wednesday, March 19th. Scotiabank analyst A. Verkhovski now forecasts that the company will post earnings per share of $1.54 for the year, up from their prior estimate 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.

Dayforce (NYSE:DAY) last announced its earnings results on Wednesday, February 5th. The company reported $0.37 earnings per share (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%.

A number of other research firms have also weighed in on DAY. TD Cowen upgraded shares of Dayforce from a “hold” rating to a “buy” rating and lifted their price objective for the company from $67.00 to $68.00 in a research report on Friday, March 7th. Jefferies Financial Group lowered their price objective on shares of Dayforce from $80.00 to $75.00 and set a “hold” rating on the stock in a research report on Thursday, February 6th. Piper Sandler reiterated an “overweight” rating and issued a $83.00 price objective (down from $94.00) on shares of Dayforce in a research report on Wednesday, February 5th. Citigroup lowered their price objective on shares of Dayforce from $90.00 to $83.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $95.00 price objective on shares of Dayforce in a research report on Thursday, February 6th. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $77.86.

Dayforce Stock Performance

Shares of DAY opened at $58.40 on Monday. The company’s 50 day simple moving average is $64.35 and its 200-day simple moving average is $67.86. Dayforce has a 12-month low of $47.08 and a 12-month high of $82.69. 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 firm has a market cap of $9.24 billion, a PE ratio of 530.94, a price-to-earnings-growth ratio of 2.49 and a beta of 1.33.

Insider Buying and Selling at Dayforce

In other news, COO Stephen H. Holdridge sold 1,000 shares of Dayforce stock in a transaction 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 transaction, the chief operating officer now owns 119,022 shares of the company’s stock, valued at $8,489,839.26. The trade was a 0.83 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 4.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Principal Financial Group Inc. acquired a new position in shares of Dayforce during the 3rd quarter worth $11,135,000. Smartleaf Asset Management LLC raised its stake in shares of Dayforce by 69.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,227 shares of the company’s stock worth $89,000 after buying an additional 501 shares during the last quarter. Retirement Systems of Alabama acquired a new position in shares of Dayforce during the 3rd quarter worth $2,105,000. SG Americas Securities LLC raised its stake in shares of Dayforce by 167.7% during the 4th quarter. SG Americas Securities LLC now owns 19,322 shares of the company’s stock worth $1,404,000 after buying an additional 12,103 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in Dayforce by 31.8% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,028 shares of the company’s stock valued at $1,398,000 after purchasing an additional 4,596 shares during the last quarter.

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.