Ceridian HCM (NYSE:CDAY) Receives New Coverage from Analysts at DA Davidson

DA Davidson assumed coverage on shares of Ceridian HCM (NYSE:CDAY) in a research report report published on Wednesday morning, Price Targets.com reports. The firm issued a buy rating and a $135.00 price objective on the stock.

Several other research analysts have also issued reports on the company. Wells Fargo & Company upped their target price on Ceridian HCM from $115.00 to $135.00 and gave the company an overweight rating in a research report on Monday. Zacks Investment Research raised Ceridian HCM from a strong sell rating to a hold rating in a research report on Tuesday, October 5th. Barclays lowered Ceridian HCM from an equal weight rating to an underweight rating and set a $98.00 target price on the stock. in a research report on Wednesday, June 30th. Mizuho upped their target price on Ceridian HCM from $120.00 to $130.00 and gave the company a buy rating in a research report on Friday, October 8th. Finally, Needham & Company LLC reaffirmed a hold rating on shares of Ceridian HCM in a research report on Thursday, October 7th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Hold and an average price target of $110.71.

Shares of CDAY stock opened at $122.84 on Wednesday. Ceridian HCM has a twelve month low of $78.20 and a twelve month high of $123.55. The stock has a market capitalization of $18.41 billion, a price-to-earnings ratio of -285.67 and a beta of 1.37. The stock has a fifty day simple moving average of $110.84 and a two-hundred day simple moving average of $98.59. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.51.

Ceridian HCM (NYSE:CDAY) last released its quarterly earnings results on Wednesday, August 4th. The company reported $0.06 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.03. The firm had revenue of $250.40 million during the quarter, compared to analyst estimates of $238.48 million. Ceridian HCM had a negative return on equity of 1.15% and a negative net margin of 6.92%. The business’s revenue for the quarter was up 30.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.13 EPS. Research analysts predict that Ceridian HCM will post -0.29 EPS for the current fiscal year.

In other news, CEO David D. Ossip sold 750,000 shares of the company’s stock in a transaction dated Wednesday, August 11th. The stock was sold at an average price of $102.45, for a total value of $76,837,500.00. Following the sale, the chief executive officer now owns 1,309,873 shares in the company, valued at $134,196,488.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gerald C. Throop sold 8,736 shares of the company’s stock in a transaction dated Thursday, September 9th. The stock was sold at an average price of $112.70, for a total value of $984,547.20. The disclosure for this sale can be found here. 4.00% of the stock is owned by corporate insiders.

Hedge funds have recently modified their holdings of the business. Alpha Paradigm Partners LLC purchased a new position in Ceridian HCM during the second quarter worth approximately $28,000. Harbor Investment Advisory LLC purchased a new position in Ceridian HCM during the second quarter worth approximately $36,000. O Shaughnessy Asset Management LLC boosted its position in Ceridian HCM by 1,116.1% during the second quarter. O Shaughnessy Asset Management LLC now owns 377 shares of the company’s stock worth $36,000 after purchasing an additional 346 shares in the last quarter. Penserra Capital Management LLC raised its holdings in shares of Ceridian HCM by 33.7% during the second quarter. Penserra Capital Management LLC now owns 436 shares of the company’s stock valued at $41,000 after acquiring an additional 110 shares during the last quarter. Finally, Berman Capital Advisors LLC raised its holdings in shares of Ceridian HCM by 138.8% during the third quarter. Berman Capital Advisors LLC now owns 523 shares of the company’s stock valued at $58,000 after acquiring an additional 304 shares during the last quarter.

About Ceridian HCM

Ceridian HCM Holding, Inc engages in the development of human capital management software. It offers Dayforce, Powerpay, and Bureau products and services. The Dayforce provides human resources (HR), payroll, benefits, workforce management, and talent management functionality. The Powerpay is a cloud HR and payroll solution for the Canadian small business market, through both direct sales and established partner channels.

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Analyst Recommendations for Ceridian HCM (NYSE:CDAY)

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