Ceridian HCM (NYSE:CDAY) Sees Strong Trading Volume

Shares of Ceridian HCM Holding Inc (NYSE:CDAY) saw strong trading volume on Monday . 1,066,911 shares changed hands during trading, an increase of 10% from the previous session’s volume of 973,106 shares.The stock last traded at $60.37 and had previously closed at $60.36.

A number of analysts have issued reports on the company. Mizuho set a $65.00 target price on Ceridian HCM and gave the stock a “buy” rating in a research report on Friday, September 6th. Cantor Fitzgerald began coverage on Ceridian HCM in a research note on Wednesday, September 11th. They set an “overweight” rating and a $65.00 price target for the company. TheStreet raised Ceridian HCM from a “d+” rating to a “c-” rating in a report on Wednesday, November 20th. Jefferies Financial Group upgraded Ceridian HCM from a “hold” rating to a “buy” rating and boosted their price objective for the company from $58.00 to $65.00 in a research note on Monday, August 19th. Finally, ValuEngine downgraded shares of Ceridian HCM from a “buy” rating to a “hold” rating in a report on Wednesday, September 4th. Seven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $58.14.

The business’s 50-day moving average price is $52.49 and its 200 day moving average price is $51.70. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $8.69 billion, a P/E ratio of -1,231.00 and a beta of 1.57.

Ceridian HCM (NYSE:CDAY) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.07 by $0.04. The company had revenue of $202.30 million during the quarter, compared to analysts’ expectations of $196.52 million. Ceridian HCM had a net margin of 11.34% and a return on equity of 2.24%. Ceridian HCM’s revenue for the quarter was up 13.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.10 earnings per share. Analysts anticipate that Ceridian HCM Holding Inc will post 0.3 EPS for the current fiscal year.

In other Ceridian HCM news, CEO David D. Ossip sold 500,000 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $56.00, for a total transaction of $28,000,000.00. Also, Director Thomas H. Lee Advisors, Llc sold 6,500,000 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $56.00, for a total value of $364,000,000.00. Insiders have sold 12,006,250 shares of company stock valued at $657,725,063 in the last three months. 26.90% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently bought and sold shares of CDAY. Metropolitan Life Insurance Co NY raised its position in Ceridian HCM by 35.4% in the 1st quarter. Metropolitan Life Insurance Co NY now owns 3,655 shares of the company’s stock worth $187,000 after purchasing an additional 955 shares during the period. First Trust Advisors LP purchased a new position in shares of Ceridian HCM in the first quarter worth about $6,042,000. Strs Ohio increased its holdings in shares of Ceridian HCM by 15.9% in the second quarter. Strs Ohio now owns 5,744 shares of the company’s stock worth $288,000 after buying an additional 787 shares during the period. Creative Planning bought a new stake in shares of Ceridian HCM in the 2nd quarter valued at about $1,928,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Ceridian HCM by 32.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,308 shares of the company’s stock valued at $116,000 after acquiring an additional 568 shares during the last quarter. Hedge funds and other institutional investors own 82.99% of the company’s stock.

About Ceridian HCM (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.

Recommended Story: How much money do you need to begin day trading?

Receive News & Ratings for Ceridian HCM Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ceridian HCM and related companies with MarketBeat.com's FREE daily email newsletter.