Ceridian HCM (NYSE:CDAY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Monday, Zacks.com reports.
According to Zacks, “Ceridian HCM Holding Inc. provides human capital management software company. It provides human resources, payroll, benefits, workforce management and talent management functionality. Ceridian HCM Holding Inc. is based in Minneapolis, United States. “
CDAY has been the topic of a number of other reports. Mizuho set a $65.00 price objective on shares of Ceridian HCM and gave the stock a “buy” rating in a research note on Friday, September 6th. Jefferies Financial Group upgraded shares of Ceridian HCM from a “hold” rating to a “buy” rating and increased their price objective for the stock from $58.00 to $65.00 in a research note on Monday, August 19th. Cantor Fitzgerald began coverage on shares of Ceridian HCM in a research note on Wednesday, September 11th. They set an “overweight” rating and a $65.00 price objective on the stock. Credit Suisse Group raised their price target on shares of Ceridian HCM from $45.00 to $52.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Finally, Canaccord Genuity set a $55.00 price target on shares of Ceridian HCM and gave the company a “hold” rating in a research note on Wednesday, July 31st. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Ceridian HCM presently has an average rating of “Buy” and a consensus target price of $56.92.
Ceridian HCM stock traded up $0.64 during trading hours on Monday, reaching $45.38. 930,717 shares of the stock were exchanged, compared to its average volume of 789,674. The company has a market cap of $6.53 billion, a P/E ratio of -907.60 and a beta of 1.47. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.40. Ceridian HCM has a twelve month low of $31.39 and a twelve month high of $58.95. The stock has a 50 day moving average of $51.31 and a two-hundred day moving average of $51.22.
Ceridian HCM (NYSE:CDAY) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.05. The firm had revenue of $196.30 million for the quarter, compared to the consensus estimate of $192.29 million. Ceridian HCM had a net margin of 4.19% and a return on equity of 2.34%. The business’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same period in the prior year, the company posted ($0.44) earnings per share. On average, analysts expect that Ceridian HCM will post 0.35 earnings per share for the current fiscal year.
In other news, Chairman David D. Ossip sold 500,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $49.27, for a total value of $24,635,000.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Thomas H. Lee Advisors, Llc sold 9,500,000 shares of Ceridian HCM stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $49.27, for a total transaction of $468,065,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 17,201,162 shares of company stock worth $895,193,518. 26.90% of the stock is currently owned by corporate insiders.
Large investors have recently bought and sold shares of the stock. Aperio Group LLC acquired a new stake in Ceridian HCM during the 2nd quarter worth approximately $25,000. Toronto Dominion Bank boosted its position in Ceridian HCM by 2,627.9% during the 2nd quarter. Toronto Dominion Bank now owns 1,664 shares of the company’s stock worth $57,000 after buying an additional 1,603 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Ceridian HCM by 32.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,308 shares of the company’s stock worth $116,000 after buying an additional 568 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Ceridian HCM by 29.4% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,987 shares of the company’s stock worth $147,000 after buying an additional 679 shares during the period. Finally, Metropolitan Life Insurance Co NY boosted its position in Ceridian HCM by 35.4% during the 1st quarter. Metropolitan Life Insurance Co NY now owns 3,655 shares of the company’s stock worth $187,000 after buying an additional 955 shares during the period. Institutional investors and hedge funds own 81.29% of the company’s stock.
Ceridian HCM Company Profile
Ceridian HCM Holding Inc operates as a human capital management (HCM) software company in the United States and internationally. The company offers Dayforce, a cloud HCM platform that provides human resources (HR), payroll, benefits, workforce management, and talent management functionality; and Powerpay, a cloud platform, which offers scalable and straightforward payroll and HR solutions.
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