Ceridian HCM (NYSE:CDAY) had its price target raised by stock analysts at Goldman Sachs Group from $62.00 to $72.00 in a report issued on Monday, The Fly reports. Goldman Sachs Group's price objective indicates a potential downside of 9.90% from the stock's previous close.
Several other analysts have also issued reports on the stock. Needham & Company LLC upped their price target on shares of Ceridian HCM from $60.00 to $70.00 and gave the stock a "buy" rating in a research report on Thursday, May 7th. Jefferies Financial Group upped their price target on shares of Ceridian HCM from $60.00 to $65.00 and gave the stock a "hold" rating in a research report on Sunday, May 10th. Citigroup increased their price objective on shares of Ceridian HCM from $64.00 to $77.00 and gave the company a "buy" rating in a research report on Tuesday, May 12th. Credit Suisse Group increased their price objective on shares of Ceridian HCM from $47.00 to $49.00 and gave the company an "underperform" rating in a research report on Thursday, May 7th. Finally, BMO Capital Markets increased their price objective on shares of Ceridian HCM from $74.00 to $75.00 and gave the company a "market perform" rating in a research report on Thursday, May 7th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company's stock. The company presently has an average rating of "Hold" and a consensus price target of $66.17.
NYSE CDAY traded up $0.16 on Monday, hitting $79.91. 2,642,623 shares of the stock were exchanged, compared to its average volume of 1,901,685. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.08 and a quick ratio of 1.08. The business's fifty day moving average is $70.81 and its 200 day moving average is $64.84. Ceridian HCM has a 52 week low of $38.40 and a 52 week high of $83.89. The company has a market capitalization of $11.59 billion, a PE ratio of 156.69 and a beta of 1.67.
Ceridian HCM (NYSE:CDAY) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the Thomson Reuters' consensus estimate of $0.12 by $0.03. Ceridian HCM had a net margin of 9.03% and a return on equity of 1.80%. The firm had revenue of $222.70 million for the quarter, compared to analyst estimates of $218.42 million. During the same period in the prior year, the firm posted $0.14 earnings per share. The company's quarterly revenue was up 9.3% compared to the same quarter last year. Analysts predict that Ceridian HCM will post 0.17 EPS for the current fiscal year.
In other Ceridian HCM news, EVP Christopher R. Armstrong sold 7,890 shares of the stock in a transaction dated Wednesday, April 29th. The shares were sold at an average price of $60.00, for a total transaction of $473,400.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO David D. Ossip sold 500,000 shares of the stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $81.00, for a total transaction of $40,500,000.00. Following the sale, the chief executive officer now owns 1,059,873 shares in the company, valued at $85,849,713. The disclosure for this sale can be found here. Insiders sold 4,305,461 shares of company stock worth $285,602,275 over the last 90 days. 17.60% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in CDAY. Cannae Holdings Inc. acquired a new stake in Ceridian HCM during the first quarter worth about $993,350,000. Capital World Investors bought a new position in shares of Ceridian HCM in the first quarter worth about $292,904,000. Capital Research Global Investors lifted its holdings in shares of Ceridian HCM by 42.1% in the first quarter. Capital Research Global Investors now owns 17,670,029 shares of the company's stock worth $884,739,000 after acquiring an additional 5,235,857 shares during the last quarter. Lone Pine Capital LLC bought a new position in shares of Ceridian HCM in the first quarter worth about $162,461,000. Finally, Artisan Partners Limited Partnership lifted its holdings in shares of Ceridian HCM by 16.2% in the fourth quarter. Artisan Partners Limited Partnership now owns 7,553,052 shares of the company's stock worth $512,701,000 after acquiring an additional 1,053,912 shares during the last quarter. Hedge funds and other institutional investors own 89.00% of the company's stock.
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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