Ceridian HCM (NYSE:CDAY) Trading Up 6.7%

Ceridian HCM Holding Inc (NYSE:CDAY)’s share price was up 6.7% during trading on Tuesday . The company traded as high as $50.37 and last traded at $49.83, approximately 1,435,193 shares changed hands during trading. A decline of 4% from the average daily volume of 1,496,091 shares. The stock had previously closed at $46.72.

A number of equities research analysts recently commented on CDAY shares. Needham & Company LLC reaffirmed a “buy” rating and set a $60.00 price objective (down from $80.00) on shares of Ceridian HCM in a research note on Monday. Royal Bank of Canada cut Ceridian HCM from an “outperform” rating to a “sector perform” rating in a research note on Wednesday. BMO Capital Markets decreased their target price on Ceridian HCM from $80.00 to $74.00 and set a “market perform” rating for the company in a research note on Thursday, February 6th. They noted that the move was a valuation call. CIBC assumed coverage on Ceridian HCM in a research note on Thursday, March 5th. They issued an “outperformer” rating and a $84.00 target price for the company. Finally, Jefferies Financial Group boosted their target price on Ceridian HCM from $73.00 to $86.00 and gave the company a “buy” rating in a research note on Monday, February 24th. One analyst has rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $69.82.

The company has a market capitalization of $7.21 billion, a P/E ratio of 94.89 and a beta of 1.45. The business has a fifty day moving average price of $64.50 and a 200 day moving average price of $60.23. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.37.

Ceridian HCM (NYSE:CDAY) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.01. The company had revenue of $221.80 million for the quarter, compared to analyst estimates of $221.15 million. Ceridian HCM had a return on equity of 1.73% and a net margin of 9.55%. The company’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.07 earnings per share. As a group, equities analysts forecast that Ceridian HCM Holding Inc will post 0.32 earnings per share for the current year.

In related news, Director Cannae Holdings, Inc. sold 3,900,000 shares of the company’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $72.75, for a total transaction of $283,725,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Arthur Gitajn sold 86,500 shares of the company’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $76.07, for a total value of $6,580,055.00. Following the sale, the chief financial officer now owns 98,127 shares in the company, valued at approximately $7,464,520.89. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,001,558 shares of company stock worth $291,362,277. Corporate insiders own 26.90% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. First Mercantile Trust Co. bought a new stake in Ceridian HCM during the fourth quarter worth about $97,000. Dupont Capital Management Corp bought a new stake in Ceridian HCM during the fourth quarter worth about $167,000. Metropolitan Life Insurance Co NY raised its holdings in Ceridian HCM by 35.4% during the first quarter. Metropolitan Life Insurance Co NY now owns 3,655 shares of the company’s stock worth $187,000 after acquiring an additional 955 shares in the last quarter. Advisor Group Inc. raised its holdings in Ceridian HCM by 34.7% during the fourth quarter. Advisor Group Inc. now owns 3,089 shares of the company’s stock worth $209,000 after acquiring an additional 795 shares in the last quarter. Finally, Bullseye Asset Management LLC bought a new stake in Ceridian HCM during the fourth quarter worth about $227,000. Institutional investors and hedge funds own 89.03% of the company’s stock.

Ceridian HCM Company Profile (NYSE:CDAY)

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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