Morningstar

Dayforce Inc DAY

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Stock XNYS Rating as of
$61.86 +0.27 (0.44%)
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As of Delayed Price Closed

Company Report

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Dayforce Continues to Gain Share in Sticky Enterprise Market

Emma Williams,

Dayforce offers payroll and human capital management solutions via its flagship Dayforce platform, secondary platform Powerpay, and legacy Bureau products. The company has taken share of the expansive and growing HCM market through the appeal of its agile cloud-based solutions that offer an alternative to legacy on-premises solutions or solutions cobbled together using multiple databases or platforms. Dayforce derives most of its revenue from Dayforce, which is geared to larger enterprises wishing to streamline human resources operations across multiple jurisdictions and leverage the platform’s scalable infrastructure.

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Price vs Fair Value

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DAY is trading at a 364% premium.
Price
$61.86
Fair Value
$12.00
Uncertainty
High
1-Star Price
$525.40
5-Star Price
$59.00
Economic Moat
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Capital Allocation
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Bulls Say, Bears Say

Bulls

We expect greater uptake of add-on modules and ancillary functionality such as Dayforce Wallet to entrench Dayforce’s software further in a client’s business, increasing client stickiness.

Bears

We expect fierce competitive pressures and powerful clients to limit pricing growth and force Dayforce to maintain high investment in software development and innovation.

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News

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Trading Information

Previous Close Price
$61.59
Day Range
$61.27–62.50
52-Week Range
$47.08–75.33
Bid/Ask
$61.30 / $62.92
Market Cap
$9.78 Bil
Volume/Avg
755,031 / 1.7 Mil

Key Statistics

Price/Earnings (Normalized)
34.80
Price/Sales
6.05
Dividend Yield (Trailing)
0.00%
Dividend Yield (Forward)
0.00%
Total Yield
—

Company Profile

Dayforce provides payroll and human capital management solutions targeting clients with 100-100,000 employees. Following the 2012 acquisition of Dayforce, Dayforce pivoted away from its legacy on-premises Bureau business to become a cloud HCM provider. As of fiscal 2022, about 80% of group revenue was derived from the flagship Dayforce platform geared toward enterprise clients. The remaining revenue is about evenly split between cloud platform Powerpay, targeting small businesses in Canada, and legacy Bureau products.
Sector
Technology
Industry
Software - Application
Stock Style Box
Small Growth
Total Number of Employees
9,084
Website
https://www.dayforce.com

Competitors

Valuation

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Metric
DAY
PCTY
PAYC
Price/Earnings (Normalized)
 34.8025.8721.24
Price/Book Value
 3.999.156.61
Price/Sales
 6.056.925.41
Price/Cash Flow
 26.8621.4016.19
Price/Earnings
DAY
PCTY
PAYC

Financial Strength

Metric
DAY
PCTY
PAYC
Quick Ratio
 0.140.140.15
Current Ratio
 1.111.131.13
Interest Coverage
 2.57—294.93
Quick Ratio
DAY
PCTY
PAYC

Profitability

Metric
DAY
PCTY
PAYC
Return on Assets (Normalized)
 3.08%8.89%10.71%
Return on Equity (Normalized)
 11.97%38.52%32.24%
Return on Invested Capital (Normalized)
 8.67%36.21%32.09%
Return on Assets
DAY
PCTY
PAYC

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