Ceridian HCM (CDAY) Lifted to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of Ceridian HCM (NYSE:CDAY) from a hold rating to a buy rating in a research report released on Friday morning. Zacks Investment Research currently has $56.00 target price on the stock.
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 research analysts have also weighed in on the stock. Mitsubishi UFJ Financial Group raised their price objective on shares of Ceridian HCM to $49.00 and gave the company an overweight rating in a research note on Thursday, February 7th. Needham & Company LLC raised their price objective on shares of Ceridian HCM to $53.00 and gave the company a buy rating in a research note on Thursday, February 7th. Piper Jaffray Companies reaffirmed an overweight rating and issued a $50.00 price objective on shares of Ceridian HCM in a research note on Thursday, February 7th. Finally, Goldman Sachs Group assumed coverage on shares of Ceridian HCM in a report on Friday, February 1st. They issued a neutral rating and a $37.00 target price for the company. Eight investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Ceridian HCM has a consensus rating of Buy and an average price target of $42.73.
Ceridian HCM (NYSE:CDAY) last released its quarterly earnings data on Wednesday, February 6th. The company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.01). Ceridian HCM had a negative net margin of 6.82% and a positive return on equity of 0.04%. The business had revenue of $200.30 million during the quarter, compared to the consensus estimate of $196.56 million. The firm’s revenue for the quarter was up 9.8% compared to the same quarter last year. Equities research analysts predict that Ceridian HCM will post 0.44 EPS for the current year.
In related news, COO Paul D. Elliott sold 17,050 shares of the firm’s stock in a transaction dated Monday, January 7th. The shares were sold at an average price of $36.00, for a total transaction of $613,800.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Paul D. Elliott sold 197,816 shares of the firm’s stock in a transaction dated Thursday, January 10th. The stock was sold at an average price of $36.00, for a total transaction of $7,121,376.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 358,866 shares of company stock valued at $14,049,791.
A number of hedge funds and other institutional investors have recently bought and sold shares of CDAY. Partners Group Holding AG purchased a new stake in Ceridian HCM during the fourth quarter worth about $62,981,000. Select Equity Group L.P. increased its holdings in Ceridian HCM by 356.6% during the third quarter. Select Equity Group L.P. now owns 1,511,216 shares of the company’s stock worth $63,516,000 after buying an additional 1,180,249 shares during the last quarter. Capital Research Global Investors increased its holdings in Ceridian HCM by 53.7% during the third quarter. Capital Research Global Investors now owns 2,920,293 shares of the company’s stock worth $122,740,000 after buying an additional 1,020,293 shares during the last quarter. BlackRock Inc. increased its holdings in Ceridian HCM by 73.2% during the fourth quarter. BlackRock Inc. now owns 1,537,914 shares of the company’s stock worth $53,041,000 after buying an additional 649,966 shares during the last quarter. Finally, Whale Rock Capital Management LLC increased its holdings in Ceridian HCM by 15.0% during the fourth quarter. Whale Rock Capital Management LLC now owns 3,927,540 shares of the company’s stock worth $135,461,000 after buying an additional 512,067 shares during the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.
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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