Dayforce Inc (DAY) Testing Investors’ Patience Right Now

Currently, there are 156.30M common shares owned by the public and among those 148.69M shares have been available to trade.

The company’s stock has a 5-day price change of 6.58% and 39.62% over the past three months. DAY shares are trading 18.71% year to date (YTD), with the 12-month market performance up to 18.34% higher. It has a 12-month low price of $47.08 and touched a high of $82.69 over the same period. DAY has an average intraday trading volume of 1.48 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 3.22%, 16.89%, and 30.61% respectively.

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Institutional ownership of Dayforce Inc (NYSE: DAY) shares accounts for 113.33% of the company’s 156.30M shares outstanding.

It has a market capitalization of $12.57B and a beta (3y monthly) value of 1.26. The stock’s trailing 12-month PE ratio is 240.00, while the earnings-per-share (ttm) stands at $0.33. The company has a PEG of 12.03 and a Quick Ratio of 1.15 with the debt-to-equity ratio at 0.48. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.03% over the week and 3.86% over the month.

Earnings per share for the fiscal year are expected to increase by 21.27%, and 21.23% over the next financial year.

Looking at the support for the DAY, a number of firms have released research notes about the stock. Scotiabank stated their Sector Perform rating for the stock in a research note on November 19, 2024, with the firm’s price target at $75. BMO Capital Markets coverage for the Dayforce Inc (DAY) stock in a research note released on November 13, 2024 offered a Outperform rating with a price target of $90. BMO Capital Markets was of a view on November 01, 2024 that the stock is Outperform, while KeyBanc Capital Markets gave the stock Overweight rating on September 24, 2024, issuing a price target of $70. Piper Sandler on their part issued Overweight rating on July 31, 2024.

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