Short Interest in Ceridian HCM Holding Inc. (NYSE:CDAY) Grows By 6.0%

Ceridian HCM Holding Inc. (NYSE:CDAY) was the recipient of a significant increase in short interest in the month of October. As of October 31st, there was short interest totalling 11,870,000 shares, an increase of 6.0% from the October 15th total of 11,200,000 shares. Approximately 8.0% of the company’s shares are short sold. Based on an average daily volume of 1,210,000 shares, the days-to-cover ratio is currently 9.8 days.

Ceridian HCM Price Performance

NYSE:CDAY opened at $69.29 on Friday. Ceridian HCM has a one year low of $55.62 and a one year high of $79.66. The company has a market cap of $10.82 billion, a P/E ratio of 2,309.67, a P/E/G ratio of 3.15 and a beta of 1.43. The firm’s fifty day moving average price is $68.87 and its two-hundred day moving average price is $67.66. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.09 and a quick ratio of 1.10.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CDAY. Piper Sandler reaffirmed a “neutral” rating and issued a $73.00 price target on shares of Ceridian HCM in a research note on Thursday, October 12th. Barclays boosted their price objective on shares of Ceridian HCM from $73.00 to $74.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 3rd. Needham & Company LLC reissued a “buy” rating and issued a $82.00 price objective on shares of Ceridian HCM in a research report on Thursday, November 2nd. JPMorgan Chase & Co. cut their price objective on shares of Ceridian HCM from $65.00 to $62.00 and set a “neutral” rating on the stock in a research report on Thursday, November 2nd. Finally, The Goldman Sachs Group began coverage on shares of Ceridian HCM in a research report on Monday, October 23rd. They issued a “neutral” rating and a $74.00 price objective on the stock. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Ceridian HCM presently has a consensus rating of “Moderate Buy” and a consensus target price of $79.06.

Insider Activity at Ceridian HCM

In related news, CEO Leagh Erin Turner sold 6,000 shares of the business’s stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $72.68, for a total transaction of $436,080.00. Following the completion of the transaction, the chief executive officer now owns 245,201 shares in the company, valued at $17,821,208.68. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CFO Noemie Clemence Heuland sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $65.18, for a total transaction of $195,540.00. Following the completion of the transaction, the chief financial officer now owns 58,353 shares in the company, valued at $3,803,448.54. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Leagh Erin Turner sold 6,000 shares of Ceridian HCM stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $72.68, for a total transaction of $436,080.00. Following the completion of the transaction, the chief executive officer now directly owns 245,201 shares in the company, valued at approximately $17,821,208.68. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,277 shares of company stock worth $2,386,878. 4.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Ceridian HCM

Several institutional investors and hedge funds have recently modified their holdings of CDAY. Global Retirement Partners LLC grew its stake in shares of Ceridian HCM by 2,300.0% in the second quarter. Global Retirement Partners LLC now owns 432 shares of the company’s stock valued at $29,000 after acquiring an additional 414 shares in the last quarter. Itau Unibanco Holding S.A. acquired a new position in shares of Ceridian HCM in the third quarter valued at about $36,000. Activest Wealth Management acquired a new position in shares of Ceridian HCM in the third quarter valued at about $40,000. Advisors Asset Management Inc. acquired a new position in shares of Ceridian HCM in the first quarter valued at about $41,000. Finally, Sentry Investment Management LLC acquired a new position in shares of Ceridian HCM in the second quarter valued at about $43,000.

About Ceridian HCM

Ceridian HCM Holding Inc, together with its subsidiaries, operates as a human capital management (HCM) software company in the United States, Canada, and internationally. It offers Dayforce, a cloud HCM platform that provides human resources, payroll, benefits, workforce management, and talent management functionality; and Powerpay, a cloud HR and payroll solution for the small business market.