Dayforce Inc (NYSE: DAY) has seen a decline in its stock price by -2.01 in relation to its previous close of 62.30. However, the company has experienced a -1.69% decline in its stock price over the last five trading sessions. https://www.marketscreener.com reported 2024-05-20 that May 20 (Reuters) – JPMorgan Chase & Co:* JPMORGAN CEO DIMON SAYS BANKS SHOULD BE ALLOWED TO MERGE* JPMORGAN CEO DIMON SAYS SUCCESSION TIMETABLE IS NOT 5 YEARS ANYMORE * JPMORGAN’S DIMON SAYS WE MAY HAVE SOME FUTURE ORGANIC GROWTH OPPORTUNITIES * JPMORGAN CEO JAMIE DIMON SAYS WE’RE NOT GOING TO BUY BACK A LOT OF STOCK AT THESE PRICES – INVESTOR DAY Further company coverage:
Is It Worth Investing in Dayforce Inc (NYSE: DAY) Right Now?
The price-to-earnings ratio for Dayforce Inc (NYSE: DAY) is above average at 187.21x. The 36-month beta value for DAY is also noteworthy at 1.30. There are mixed opinions on the stock, with 0 analysts rating it as a “buy,” 0 rating it as “overweight,” 0 rating it as “hold,” and 0 rating it as “sell.”
The public float for DAY is 153.96M, and at present, short sellers hold a 6.67% of that float. The average trading volume of DAY on May 22, 2024 was 1.48M shares.
DAY’s Market Performance
DAY stock saw an increase of -1.69% in the past week, with a monthly gain of 3.56% and a quarterly increase of -12.67%. The volatility ratio for the week is 2.17%, and the volatility levels for the last 30 days are 3.06% for Dayforce Inc (DAY). The simple moving average for the last 20 days is 1.21% for DAY stock, with a simple moving average of -9.62% for the last 200 days.
Analysts’ Opinion of DAY
Many brokerage firms have already submitted their reports for DAY stocks, with Stifel repeating the rating for DAY by listing it as a “Buy.” The predicted price for DAY in the upcoming period, according to Stifel is $75 based on the research report published on January 10, 2024 of the current year 2024.
UBS, on the other hand, stated in their research note that they expect to see DAY reach a price target of $87. The rating they have provided for DAY stocks is “Buy” according to the report published on November 07th, 2023.
Goldman gave a rating of “Neutral” to DAY, setting the target price at $74 in the report published on October 23rd of the previous year.
DAY Trading at -2.88% from the 50-Day Moving Average
After a stumble in the market that brought DAY to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -19.17% of loss for the given period.
Volatility was left at 3.06%, however, over the last 30 days, the volatility rate increased by 2.17%, as shares surge +2.99% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -9.73% lower at present.
During the last 5 trading sessions, DAY fell by -1.69%, which changed the moving average for the period of 200-days by -14.64% in comparison to the 20-day moving average, which settled at $60.41. In addition, Dayforce Inc saw -9.04% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at DAY starting from Armstrong Christopher R, who sale 60,000 shares at the price of $69.14 back on Mar 22 ’24. After this action, Armstrong Christopher R now owns 149,319 shares of Dayforce Inc, valued at $4,148,139 using the latest closing price.
Heuland Noemie Clemence, the EVP, CFO of Dayforce Inc, sale 3,000 shares at $65.18 during a trade that took place back on Nov 10 ’23, which means that Heuland Noemie Clemence is holding 58,353 shares at $195,540 based on the most recent closing price.
Stock Fundamentals for DAY
Current profitability levels for the company are sitting at:
- 0.09 for the present operating margin
- 0.44 for the gross margin
The net margin for Dayforce Inc stands at 0.03. The total capital return value is set at 0.04. Equity return is now at value 2.25, with 0.50 for asset returns.
Based on Dayforce Inc (DAY), the company’s capital structure generated 0.34 points at debt to capital in total, while cash flow to debt ratio is standing at 0.18. The debt to equity ratio resting at 0.51. The interest coverage ratio of the stock is 3.37.
Currently, EBITDA for the company is 264.6 million with net debt to EBITDA at 3.3. When we switch over and look at the enterprise to sales, we see a ratio of 6.66. The receivables turnover for the company is 5.71for trailing twelve months and the total asset turnover is 0.15. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.07.
Conclusion
In summary, Dayforce Inc (DAY) has had a bad performance as of late. Analysts have mixed opinions on the stock, with some viewing it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
