Ceridian HCM (NYSE:CDAY) Raised to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Ceridian HCM (NYSE:CDAYGet Rating) from a hold rating to a buy rating in a research note published on Wednesday morning, Zacks.com reports. The firm currently has $59.00 target price on the stock.

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. “

A number of other equities research analysts have also weighed in on CDAY. Barclays lowered their target price on Ceridian HCM from $83.00 to $60.00 and set an underweight rating for the company in a research note on Tuesday, April 19th. Wolfe Research lowered Ceridian HCM from a peer perform rating to an underperform rating in a research note on Friday, February 11th. Deutsche Bank Aktiengesellschaft lowered their target price on Ceridian HCM from $105.00 to $85.00 in a research note on Thursday, May 5th. BMO Capital Markets lowered their price target on Ceridian HCM from $91.00 to $83.00 in a research report on Thursday, May 5th. Finally, Wells Fargo & Company lowered their price target on Ceridian HCM from $85.00 to $65.00 and set an equal weight rating for the company in a research report on Tuesday, March 15th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Ceridian HCM currently has an average rating of Hold and a consensus price target of $81.69.

CDAY opened at $49.54 on Wednesday. The stock has a 50-day moving average price of $62.35 and a 200-day moving average price of $84.50. Ceridian HCM has a 12-month low of $50.04 and a 12-month high of $130.37. The company has a current ratio of 1.05, a quick ratio of 1.11 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $7.56 billion, a P/E ratio of -91.33 and a beta of 1.51.

Ceridian HCM (NYSE:CDAYGet Rating) last released its earnings results on Wednesday, May 4th. The company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.05. Ceridian HCM had a negative return on equity of 3.11% and a negative net margin of 7.72%. The company had revenue of $293.30 million during the quarter, compared to analyst estimates of $289.44 million. During the same quarter in the previous year, the company posted ($0.03) EPS. Ceridian HCM’s revenue for the quarter was up 25.1% on a year-over-year basis. On average, equities research analysts predict that Ceridian HCM will post -0.37 EPS for the current year.

In other news, COO Christopher R. Armstrong sold 1,811 shares of the stock in a transaction on Monday, May 9th. The stock was sold at an average price of $52.99, for a total transaction of $95,964.89. Following the transaction, the chief operating officer now directly owns 112,977 shares of the company’s stock, valued at approximately $5,986,651.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP William Everett Mcdonald sold 1,225 shares of the stock in a transaction on Wednesday, March 9th. The shares were sold at an average price of $62.49, for a total value of $76,550.25. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,251 shares of company stock worth $1,126,494. Company insiders own 3.90% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. DNB Asset Management AS lifted its holdings in shares of Ceridian HCM by 25.4% during the 4th quarter. DNB Asset Management AS now owns 20,643 shares of the company’s stock valued at $2,156,000 after buying an additional 4,178 shares during the period. Voya Investment Management LLC raised its holdings in Ceridian HCM by 125.7% in the 3rd quarter. Voya Investment Management LLC now owns 55,944 shares of the company’s stock worth $6,301,000 after purchasing an additional 31,159 shares during the period. New York State Common Retirement Fund raised its holdings in Ceridian HCM by 3.2% in the 4th quarter. New York State Common Retirement Fund now owns 152,958 shares of the company’s stock worth $15,978,000 after purchasing an additional 4,711 shares during the period. Truist Financial Corp bought a new position in Ceridian HCM in the 3rd quarter worth $208,000. Finally, Public Sector Pension Investment Board bought a new position in Ceridian HCM in the 3rd quarter worth $2,562,000.

About Ceridian HCM (Get Rating)

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 (HR), payroll, benefits, workforce management, and talent management functionality; and Powerpay, a cloud HR and payroll solution for the small business market.

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Analyst Recommendations for Ceridian HCM (NYSE:CDAY)

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