Dayforce Inc (NYSE:DAY) Stock Holdings Lowered by Wells Fargo & Company MN

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

Several other hedge funds have also modified their holdings of DAY. Vanguard Group Inc. increased its holdings in Dayforce by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 17,319,275 shares of the company's stock valued at $1,258,072,000 after buying an additional 197,773 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Dayforce by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 3,839,645 shares of the company's stock worth $278,193,000 after acquiring an additional 57,621 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Dayforce by 0.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,399,628 shares of the company's stock worth $101,669,000 after purchasing an additional 4,584 shares during the last quarter. Pictet Asset Management Holding SA raised its holdings in Dayforce by 3.0% during the fourth quarter. Pictet Asset Management Holding SA now owns 790,126 shares of the company's stock worth $57,395,000 after purchasing an additional 22,748 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in Dayforce by 18,250.4% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 660,613 shares of the company's stock worth $47,890,000 after purchasing an additional 657,013 shares in the last quarter.

Analysts Set New Price Targets

DAY has been the subject of several research reports. Citigroup cut their price target on Dayforce from $90.00 to $83.00 and set a "buy" rating for the company in a research note on Thursday, January 16th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $80.00 price target (down previously from $85.00) on shares of Dayforce in a report on Wednesday, January 8th. Scotiabank lowered their price target on shares of Dayforce from $72.00 to $55.00 and set a "sector perform" rating on the stock in a research report on Monday, March 17th. Piper Sandler reaffirmed an "overweight" rating and issued a $83.00 target price (down previously from $94.00) on shares of Dayforce in a research note on Wednesday, February 5th. Finally, Wells Fargo & Company lowered their target price on Dayforce from $70.00 to $60.00 and set an "equal weight" rating on the stock in a report on Tuesday. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $74.86.

Insiders Place Their Bets

In other Dayforce news, EVP William Everett Mcdonald sold 2,000 shares of Dayforce stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $56.16, for a total value of $112,320.00. Following the completion of the transaction, the executive vice president now directly owns 105,691 shares in the company, 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 legal filing with the SEC, which is available at this link. 4.50% of the stock is currently owned by corporate insiders.

Dayforce Stock Up 0.2 %

Shares of DAY stock traded up $0.10 during trading hours on Friday, hitting $57.37. 384,665 shares of the company were exchanged, compared to its average volume of 1,749,234. The stock has a market capitalization of $9.08 billion, a price-to-earnings ratio of 521.52, a P/E/G ratio of 2.49 and a beta of 1.20. Dayforce Inc has a one year low of $47.08 and a one year high of $82.69. The business's 50-day simple moving average is $57.39 and its two-hundred day simple moving average is $67.05. 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 (NYSE:DAY - Get Free Report) last issued its 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 return on equity of 6.49% and a net margin of 1.03%. Sell-side analysts predict that Dayforce Inc will post 1.48 EPS for the current fiscal year.

Dayforce Profile

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.