Ceridian HCM (NYSE:CDAY) Downgraded by Zacks Investment Research
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. “
A number of other brokerages have also commented on CDAY. Mizuho set a $65.00 price target on shares of Ceridian HCM and gave the company 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 boosted their price target for the company from $58.00 to $65.00 in a research note on Monday, August 19th. ValuEngine lowered shares of Ceridian HCM from a “buy” rating to a “hold” rating in a research note on Wednesday, September 4th. Canaccord Genuity set a $55.00 price objective on shares of Ceridian HCM and gave the stock a “hold” rating in a report on Wednesday, July 31st. Finally, Credit Suisse Group lifted their price objective on shares of Ceridian HCM from $45.00 to $52.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $56.92.
Ceridian HCM (NYSE:CDAY) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $0.12 EPS for the quarter, beating the Zacks’ consensus estimate of $0.07 by $0.05. The business had revenue of $196.30 million during the quarter, compared to analyst estimates of $192.29 million. Ceridian HCM had a net margin of 4.19% and a return on equity of 2.34%. Ceridian HCM’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.44) EPS. Analysts forecast that Ceridian HCM will post 0.35 earnings per share for the current year.
In related news, EVP Scott A. Kitching sold 131,912 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $51.30, for a total value of $6,767,085.60. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Lisa M. Sterling sold 6,250 shares of the business’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $52.01, for a total transaction of $325,062.50. Insiders have sold a total of 17,201,162 shares of company stock worth $895,193,518 over the last ninety days. Insiders own 26.90% of the company’s stock.
Several large investors have recently modified their holdings of the stock. Strs Ohio boosted its holdings in shares of Ceridian HCM by 17.9% in the 3rd quarter. Strs Ohio now owns 6,770 shares of the company’s stock worth $334,000 after buying an additional 1,026 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Ceridian HCM by 29.4% in 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 last quarter. Zeke Capital Advisors LLC boosted its holdings in shares of Ceridian HCM by 39.7% in the 3rd quarter. Zeke Capital Advisors LLC now owns 10,180 shares of the company’s stock worth $503,000 after buying an additional 2,894 shares during the last quarter. Ingalls & Snyder LLC purchased a new position in shares of Ceridian HCM in the 3rd quarter worth about $256,000. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC boosted its holdings in shares of Ceridian HCM by 24.2% in the 3rd quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 5,490 shares of the company’s stock worth $271,000 after buying an additional 1,070 shares during the last quarter. 81.29% of the stock is currently owned by institutional investors.
About Ceridian HCM
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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