Wells Fargo & Company MN Reduces Position in Dayforce Inc (NYSE:DAY)

Wells Fargo & Company MN trimmed its holdings in Dayforce Inc (NYSE:DAY) by 82.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,757 shares of the company’s stock after selling 298,143 shares during the quarter. Wells Fargo & Company MN’s holdings in Dayforce were worth $4,486,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in DAY. Harvest Fund Management Co. Ltd purchased a new stake in Dayforce in the 4th quarter valued at $61,000. AlphaQuest LLC boosted its position in shares of Dayforce by 14,800.0% during the 4th quarter. AlphaQuest LLC now owns 1,043 shares of the company’s stock valued at $76,000 after acquiring an additional 1,036 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of Dayforce by 69.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,227 shares of the company’s stock valued at $89,000 after purchasing an additional 501 shares during the period. GAMMA Investing LLC increased its position in Dayforce by 52.1% during the fourth quarter. GAMMA Investing LLC now owns 2,926 shares of the company’s stock worth $213,000 after purchasing an additional 1,002 shares during the last quarter. Finally, Orion Portfolio Solutions LLC purchased a new position in Dayforce during the fourth quarter worth about $217,000.

Wall Street Analyst Weigh In

DAY has been the topic of several recent analyst reports. Barclays decreased their price target on Dayforce from $80.00 to $69.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 6th. Jefferies Financial Group dropped their price objective on Dayforce from $80.00 to $75.00 and set a “hold” rating for the company in a research note on Thursday, February 6th. Cowen raised Dayforce from a “hold” rating to a “buy” rating in a research note on Friday, March 7th. Piper Sandler reiterated an “overweight” rating and set a $83.00 price target (down from $94.00) on shares of Dayforce in a research note on Wednesday, February 5th. Finally, Scotiabank lowered their price objective on shares of Dayforce from $72.00 to $55.00 and set a “sector perform” rating for the company in a research note on Monday, March 17th. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $76.79.

Insider Transactions at Dayforce

In other news, EVP William Everett Mcdonald sold 2,000 shares of the business’s stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $56.16, for a total transaction of $112,320.00. Following the sale, the executive vice president now directly owns 105,691 shares of the company’s stock, valued at $5,935,606.56. The trade was a 1.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 4.50% of the company’s stock.

Dayforce Stock Performance

Shares of DAY opened at $54.16 on Monday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.15 and a current ratio of 1.13. Dayforce Inc has a 1 year low of $47.08 and a 1 year high of $82.69. The firm has a fifty day moving average of $58.30 and a 200-day moving average of $67.32. The company has a market cap of $8.57 billion, a price-to-earnings ratio of 492.38, a price-to-earnings-growth ratio of 2.49 and a beta of 1.20.

Dayforce (NYSE:DAY) last released its quarterly earnings results on Wednesday, February 5th. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.09). Dayforce had a return on equity of 6.49% and a net margin of 1.03%. As a group, equities analysts anticipate that Dayforce Inc will post 1.48 earnings per share for the current year.

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.