Dayforce Inc (NYSE:DAY) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. decreased its position in shares of Dayforce Inc (NYSE:DAY - Free Report) by 98.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,814 shares of the company's stock after selling 704,941 shares during the period. Franklin Resources Inc.'s holdings in Dayforce were worth $1,003,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Harvest Fund Management Co. Ltd purchased a new position in shares of Dayforce during the fourth quarter valued at approximately $61,000. AlphaQuest LLC boosted its holdings in 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 period. Smartleaf Asset Management LLC grew its position in Dayforce by 69.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,227 shares of the company's stock valued at $89,000 after acquiring an additional 501 shares during the last quarter. National Bank of Canada FI bought a new position in Dayforce in the 3rd quarter valued at $179,000. Finally, GAMMA Investing LLC increased its stake in Dayforce by 52.1% in 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 period.

Wall Street Analyst Weigh In

DAY has been the topic of a number of research analyst reports. TD Cowen upgraded shares of Dayforce from a "hold" rating to a "buy" rating and upped their price target for the stock from $67.00 to $68.00 in a report on Friday, March 7th. Citigroup reduced their target price on shares of Dayforce from $90.00 to $83.00 and set a "buy" rating on the stock in a research report on Thursday, January 16th. Jefferies Financial Group dropped their price objective on Dayforce from $80.00 to $75.00 and set a "hold" rating on the stock in a research note on Thursday, February 6th. Piper Sandler restated an "overweight" rating and set a $83.00 price objective (down from $94.00) on shares of Dayforce in a report on Wednesday, February 5th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $80.00 target price (down from $85.00) on shares of Dayforce in a report on Wednesday, January 8th. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $76.79.

Insider Activity

In related news, EVP William Everett Mcdonald sold 2,000 shares of the company's stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $56.16, for a total transaction of $112,320.00. Following the completion of the transaction, the executive vice president now owns 105,691 shares in the company, valued at $5,935,606.56. This represents a 1.86 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 4.50% of the company's stock.

Dayforce Stock Performance

Shares of NYSE:DAY traded down $0.84 on Friday, hitting $54.16. 1,549,927 shares of the company were exchanged, compared to its average volume of 1,746,063. The firm has a market capitalization of $8.57 billion, a P/E ratio of 492.38, a price-to-earnings-growth ratio of 2.49 and a beta of 1.20. The company has a current ratio of 1.13, a quick ratio of 1.15 and a debt-to-equity ratio of 0.47. The stock's 50 day moving average price is $58.30 and its 200 day moving average price is $67.24. Dayforce Inc has a 1-year low of $47.08 and a 1-year high of $82.69.

Dayforce (NYSE:DAY - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.09). Dayforce had a net margin of 1.03% and a return on equity of 6.49%. Sell-side analysts predict that Dayforce Inc will post 1.48 EPS 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.