Equities researchers at Royal Bank of Canada started coverage on shares of Ceridian HCM (NYSE:CDAY) in a research report issued on Tuesday, The Fly reports. The brokerage set an “outperform” rating and a $71.00 price target on the stock. Royal Bank of Canada’s price target would indicate a potential upside of 17.61% from the stock’s current price.
Several other analysts have also recently issued reports on the company. ValuEngine cut Ceridian HCM from a “buy” rating to a “hold” rating in a research report on Wednesday, September 4th. Barclays set a $52.00 price target on Ceridian HCM and gave the stock a “hold” rating in a report on Friday, November 1st. Zacks Investment Research downgraded Ceridian HCM from a “buy” rating to a “hold” rating in a research note on Monday, October 21st. Jefferies Financial Group raised shares of Ceridian HCM from a “hold” rating to a “buy” rating and increased their price objective for the company from $58.00 to $65.00 in a report on Monday, August 19th. Finally, Mizuho set a $65.00 price objective on shares of Ceridian HCM and gave the company a “buy” rating in a research report on Friday, September 6th. Seven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Ceridian HCM presently has an average rating of “Buy” and an average target price of $58.14.
Shares of CDAY stock opened at $60.37 on Tuesday. Ceridian HCM has a 52-week low of $31.39 and a 52-week high of $61.15. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.10 and a current ratio of 1.10. The firm has a market capitalization of $8.69 billion, a PE ratio of -1,207.40 and a beta of 1.57. The stock has a fifty day simple moving average of $52.25 and a two-hundred day simple moving average of $51.64.
Ceridian HCM (NYSE:CDAY) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.11 EPS for the quarter, beating the Zacks’ consensus estimate of $0.07 by $0.04. Ceridian HCM had a return on equity of 2.24% and a net margin of 11.34%. The business had revenue of $202.30 million for the quarter, compared to analysts’ expectations of $196.52 million. During the same period last year, the firm earned $0.10 earnings per share. The business’s quarterly revenue was up 13.6% on a year-over-year basis. On average, sell-side analysts forecast that Ceridian HCM will post 0.3 EPS for the current fiscal year.
In related news, Director Thomas H. Lee Advisors, Llc sold 6,500,000 shares of the company’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $56.00, for a total transaction of $364,000,000.00. Also, CEO David D. Ossip sold 500,000 shares of the company’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $56.00, for a total transaction of $28,000,000.00. Over the last three months, insiders have sold 12,006,250 shares of company stock valued at $657,725,063. 26.90% of the stock is owned by corporate insiders.
Several large investors have recently modified their holdings of CDAY. Price T Rowe Associates Inc. MD increased its holdings in shares of Ceridian HCM by 31.4% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 13,864,672 shares of the company’s stock worth $696,007,000 after buying an additional 3,312,089 shares during the last quarter. Select Equity Group L.P. grew its position in Ceridian HCM by 32.4% in the third quarter. Select Equity Group L.P. now owns 8,434,199 shares of the company’s stock worth $416,396,000 after acquiring an additional 2,064,472 shares in the last quarter. Vanguard Group Inc. increased its stake in Ceridian HCM by 30.9% during the second quarter. Vanguard Group Inc. now owns 6,487,533 shares of the company’s stock worth $325,674,000 after acquiring an additional 1,531,004 shares during the last quarter. BlackRock Inc. increased its stake in Ceridian HCM by 28.6% during the second quarter. BlackRock Inc. now owns 2,913,790 shares of the company’s stock worth $146,271,000 after acquiring an additional 647,177 shares during the last quarter. Finally, Echo Street Capital Management LLC raised its position in Ceridian HCM by 219.8% during the second quarter. Echo Street Capital Management LLC now owns 644,375 shares of the company’s stock valued at $32,348,000 after purchasing an additional 442,859 shares during the period. 82.99% of the stock is 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.
Further Reading: Google Finance Portfolio
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.