BMO Capital Markets has recently reiterated Dayforce Inc (DAY) stock to Outperform rating, as announced on November 1, 2024, according to Finviz. Earlier, on September 24, 2024, KeyBanc Capital Markets had initiated the stock to Overweight, setting a price target of $70. Piper Sandler also raised Overweight rating with a price target of $71. Additionally, BMO Capital Markets reiterated Outperform rating on June 11, 2024, with a target price of $75. Stifel analysts, in their report published on January 10, 2024, also initiated Buy rating for Dayforce Inc’s stock. Analyst ratings are significant because they provide insights into stock performance expectations, influencing investor decisions and market sentiment.
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Dayforce Inc (DAY) Stock Trading Recap
On Monday, Dayforce Inc (DAY) stock saw a decline, ending the day at $79.66 which represents a decrease of $-1.48 or -1.82% from the prior close of $81.14. The stock opened at $81.33 and touched a low of $78.88 during the day, reaching a high of $81.33. The volume of shares traded was 1.91 million exceeding the average volume of 1.41 million.
DAY Stock Performance and Moving Averages
In recent trading, Dayforce Inc (DAY) stock price has shown some volatility, fluctuating 5.65% over the last five trades and 28.55% over the past 30 trades. This represents a notable shift from earlier in the year. Over the last six months, the stock has risen by 28.80%, and it has gained 50.44% in the previous three months. Currently, DAY is trading at 13.58%, 25.11%, and 31.43% relative to its 20-Day, 50-Day, and 200-Day Simple Moving Averages, respectively.
As of the latest trading close, DAY, a Technology sector stock, is trading -1.90% below its 52-week high but remains 69.20% above its 52-week low. The Average True Range (ATR) (14 days) of 2.26 highlights the stock’s average volatility, providing insight into how much the price typically fluctuates. This measure is crucial for understanding potential price swings and assessing overall market risk.
Dayforce Inc’s Profitability and Valuation Ratios
Dayforce Inc’s profitability metrics reveal strong financial health. The company currently boasts an operating margin of 8.09% and a profit margin of 3.12%, with a gross margin of 28.80%. The profit margin, also known as the revenue ratio or gross profit ratio, measures how efficiently a company converts sales into net income; higher margins indicate greater profitability.
In terms of valuation, Dayforce Inc’s market capitalization stands at $12.64 billion. Market cap represents the total value of all outstanding shares and is a key indicator of a company’s market value. The stock’s price-to-earnings (P/E) ratio is 239.94, assessing the company’s valuation relative to its earnings. The forward P/E ratio, which uses projected earnings for the next financial year, is 36.01. Additionally, the Price-to-Sales Ratio is 7.46, reflecting the market’s valuation of the company’s sales, while the Price-to-Book Ratio is 4.92, comparing the market value to the company’s book value.
Understanding Insider Trading
Investors often prefer to invest in shares held by company insiders, as management is typically more aligned with the company’s success and shareholder interests. Currently, insiders own just 3.98% of Dayforce Inc (DAY)’s shares, while financial institutions hold 115.32%.
Notable insider trades include Holdridge Stephen H., President, COO at Dayforce Inc (DAY), who sold 2000 shares on Nov 01 ’24, at $73.75 each, totaling $0.15 million. On Oct 30 ’24, Holdridge Stephen H., President, COO, sold 2000 shares for $69.25 each, amounting to $0.14 million. Additionally, on May 20 ’24, McDonald William Everett sold 5995 shares at $63.28 each, generating $0.38 million.
