Wells Fargo & Company MN Sells 298,143 Shares of Dayforce Inc (NYSE:DAY)

Wells Fargo & Company MN cut its stake in Dayforce Inc (NYSE:DAY) by 82.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund 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 filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of DAY. Vanguard Group Inc. grew its position in Dayforce by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 17,319,275 shares of the company’s stock worth $1,258,072,000 after purchasing an additional 197,773 shares in the last quarter. Geode Capital Management LLC boosted its stake 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 buying an additional 57,621 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Dayforce by 0.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,399,628 shares of the company’s stock valued at $101,669,000 after acquiring an additional 4,584 shares in the last quarter. Pictet Asset Management Holding SA increased its position in shares of Dayforce by 3.0% during the fourth quarter. Pictet Asset Management Holding SA now owns 790,126 shares of the company’s stock valued at $57,395,000 after acquiring an additional 22,748 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings 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 acquiring an additional 657,013 shares during the period.

Insider Transactions at Dayforce

In related news, EVP William Everett Mcdonald sold 2,000 shares of the stock in a transaction that occurred on 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 sale, the executive vice president now owns 105,691 shares of the company’s stock, valued at $5,935,606.56. This represents a 1.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 4.50% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Piper Sandler restated an “overweight” rating and set a $83.00 price target (down previously from $94.00) on shares of Dayforce in a research note on Wednesday, February 5th. TD Cowen raised shares of Dayforce from a “hold” rating to a “buy” rating and boosted their target price for the company from $67.00 to $68.00 in a report on Friday, March 7th. Citigroup decreased their price target on Dayforce from $90.00 to $83.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. Scotiabank lowered their target price on shares of Dayforce from $72.00 to $55.00 and set a “sector perform” rating on the stock in a research note on Monday, March 17th. Finally, Cowen upgraded Dayforce from a “hold” rating to a “buy” rating in a research report on Friday, March 7th. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $76.79.

Dayforce Price Performance

Dayforce stock opened at $54.16 on Monday. Dayforce Inc has a 52-week low of $47.08 and a 52-week high of $82.69. The company has a market cap of $8.57 billion, a price-to-earnings ratio of 492.38, a PEG ratio of 2.49 and a beta of 1.20. The firm’s fifty day moving average is $58.30 and its 200 day moving average is $67.32. The company has a quick ratio of 1.15, a current ratio of 1.13 and a debt-to-equity ratio of 0.47.

Dayforce (NYSE:DAY) last announced its earnings results on Wednesday, February 5th. The company reported $0.37 earnings per share 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 forecast that Dayforce Inc will post 1.48 EPS for the current fiscal 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.