Zacks Investment Research Downgrades Ceridian HCM (CDAY) to Hold
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. “
Several other research firms have also commented on CDAY. Mitsubishi UFJ Financial Group raised their price target on shares of Ceridian HCM from $40.00 to $56.00 and gave the company an “overweight” rating in a research report on Tuesday. Piper Jaffray Companies restated an “overweight” rating and set a $50.00 price target on shares of Ceridian HCM in a research report on Thursday, February 7th. Needham & Company LLC raised their price target on shares of Ceridian HCM to $53.00 and gave the company a “buy” rating in a research report on Thursday, February 7th. Finally, Goldman Sachs Group assumed coverage on shares of Ceridian HCM in a research report on Friday, February 1st. They set a “neutral” rating and a $37.00 price target on the stock. Eight analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $43.40.
Ceridian HCM (NYSE:CDAY) last released its quarterly earnings results on Wednesday, February 6th. The company reported $0.07 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by ($0.01). The firm had revenue of $200.30 million for the quarter, compared to analyst estimates of $196.56 million. Ceridian HCM had a negative net margin of 6.82% and a positive return on equity of 0.04%. The business’s revenue was up 9.8% compared to the same quarter last year. Research analysts predict that Ceridian HCM will post 0.44 EPS for the current fiscal year.
In other Ceridian HCM news, CFO Arthur Gitajn sold 86,500 shares of the stock in a transaction on Wednesday, February 20th. The shares were sold at an average price of $47.01, for a total transaction of $4,066,365.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Ozzie J. Goldschmied sold 45,000 shares of the stock in a transaction on Wednesday, January 30th. The shares were sold at an average price of $40.00, for a total transaction of $1,800,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 14,364,892 shares of company stock worth $703,169,802. Insiders own 26.90% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the business. Partners Group Holding AG purchased a new position in Ceridian HCM in the fourth quarter worth approximately $62,981,000. Select Equity Group L.P. lifted its holdings in Ceridian HCM by 356.6% in the 3rd quarter. Select Equity Group L.P. now owns 1,511,216 shares of the company’s stock valued at $63,516,000 after purchasing an additional 1,180,249 shares in the last quarter. Capital Research Global Investors lifted its holdings in Ceridian HCM by 53.7% in the 3rd quarter. Capital Research Global Investors now owns 2,920,293 shares of the company’s stock valued at $122,740,000 after purchasing an additional 1,020,293 shares in the last quarter. BlackRock Inc. lifted its holdings in Ceridian HCM by 73.2% in the 4th quarter. BlackRock Inc. now owns 1,537,914 shares of the company’s stock valued at $53,041,000 after purchasing an additional 649,966 shares in the last quarter. Finally, Whale Rock Capital Management LLC lifted its holdings in Ceridian HCM by 15.0% in the 4th quarter. Whale Rock Capital Management LLC now owns 3,927,540 shares of the company’s stock valued at $135,461,000 after purchasing an additional 512,067 shares in the last quarter. 80.11% of the stock is currently owned by institutional investors and hedge funds.
Ceridian HCM Company Profile
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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