Ceridian HCM (NYSE:CDAY) Reaches New 52-Week High Following Strong Earnings
Ceridian HCM Holding Inc (NYSE:CDAY)’s stock price hit a new 52-week high during trading on Wednesday after the company announced better than expected quarterly earnings. The company traded as high as $55.85 and last traded at $52.80, with a volume of 36668 shares. The stock had previously closed at $51.74.
The company reported $0.12 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.07 by $0.05. Ceridian HCM had a positive return on equity of 0.89% and a negative net margin of 5.13%. The firm had revenue of $196.30 million for the quarter, compared to analyst estimates of $192.29 million. During the same quarter in the prior year, the company posted ($0.44) earnings per share. Ceridian HCM’s quarterly revenue was up 9.7% on a year-over-year basis.
A number of research analysts recently weighed in on the company. Jefferies Financial Group reaffirmed a “hold” rating and set a $78.00 price objective (down previously from $85.00) on shares of GrubHub in a report on Wednesday. Piper Jaffray Companies upped their price objective on Shopify from $149.00 to $216.00 and gave the stock a “neutral” rating in a report on Tuesday, April 30th. Robert W. Baird reaffirmed an “outperform” rating and set a $58.00 price objective (up previously from $48.00) on shares of Ceridian HCM in a report on Wednesday. Mitsubishi UFJ Financial Group upped their price objective on Ceridian HCM from $40.00 to $56.00 and gave the stock an “overweight” rating in a report on Tuesday, April 9th. Finally, Zacks Investment Research raised HENKEL AG & CO/S from a “sell” rating to a “hold” rating in a report on Thursday, June 6th. Nine equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Ceridian HCM presently has an average rating of “Hold” and a consensus target price of $48.62.
Several institutional investors and hedge funds have recently bought and sold shares of CDAY. Aperio Group LLC purchased a new position in shares of Ceridian HCM in the 2nd quarter worth about $25,000. American International Group Inc. raised its holdings in shares of Ceridian HCM by 48.7% during the 4th quarter. American International Group Inc. now owns 849 shares of the company’s stock valued at $29,000 after buying an additional 278 shares during the period. Deutsche Bank AG raised its holdings in shares of Ceridian HCM by 23.8% during the 4th quarter. Deutsche Bank AG now owns 1,425 shares of the company’s stock valued at $48,000 after buying an additional 274 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Ceridian HCM by 81.1% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,740 shares of the company’s stock valued at $89,000 after buying an additional 779 shares during the period. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. purchased a new stake in shares of Ceridian HCM during the 1st quarter valued at about $92,000. 79.57% of the stock is currently owned by institutional investors and hedge funds.
The company has a market cap of $7.46 billion, a price-to-earnings ratio of -1,097.80 and a beta of 1.60. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.41. The firm’s fifty day moving average price is $50.70.
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.
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