Franklin Resources Inc. Has $1 Million Stake in Dayforce Inc (NYSE:DAY)

Franklin Resources Inc. decreased its holdings in shares of Dayforce Inc (NYSE:DAY - Free Report) by 98.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,814 shares of the company's stock after selling 704,941 shares during the quarter. Franklin Resources Inc.'s holdings in Dayforce were worth $1,003,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Harvest Fund Management Co. Ltd bought a new position in Dayforce during the 4th quarter worth approximately $61,000. AlphaQuest LLC increased its position in shares of Dayforce by 14,800.0% in the 4th quarter. AlphaQuest LLC now owns 1,043 shares of the company's stock valued at $76,000 after buying an additional 1,036 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in Dayforce by 69.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,227 shares of the company's stock worth $89,000 after buying an additional 501 shares during the period. National Bank of Canada FI acquired a new position in Dayforce in the third quarter valued at about $179,000. Finally, GAMMA Investing LLC increased its stake in Dayforce by 52.1% in the 4th quarter. GAMMA Investing LLC now owns 2,926 shares of the company's stock valued at $213,000 after buying an additional 1,002 shares during the last quarter.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Mizuho decreased their price objective on Dayforce from $95.00 to $80.00 and set an "outperform" rating for the company in a report on Tuesday, April 15th. Cowen upgraded shares of Dayforce from a "hold" rating to a "buy" rating in a report on Friday, March 7th. Needham & Company LLC reiterated a "buy" rating and issued a $95.00 price target on shares of Dayforce in a research note on Thursday, February 6th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $80.00 price objective (down from $85.00) on shares of Dayforce in a research note on Wednesday, January 8th. Finally, Citigroup reduced their price target on Dayforce from $90.00 to $83.00 and set a "buy" rating for the company in a report on Thursday, January 16th. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $76.79.

Dayforce Price Performance

Shares of DAY stock traded down $0.84 during trading on Friday, hitting $54.16. The company had a trading volume of 1,549,927 shares, compared to its average volume of 1,746,470. The stock's 50-day moving average price is $58.30 and its 200 day moving average price is $67.32. Dayforce Inc has a one year low of $47.08 and a one year high of $82.69. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.15 and a current ratio of 1.13. 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.

Dayforce (NYSE:DAY - Get Free Report) last released its 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%. Equities analysts expect that Dayforce Inc will post 1.48 EPS for the current fiscal year.

Insider Activity

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 completion of the transaction, the executive vice president now owns 105,691 shares of the company's stock, valued at approximately $5,935,606.56. The trade was a 1.86 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 4.50% of the company's stock.

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.