Ceridian HCM (NYSE:CDAY) Upgraded by Zacks Investment Research to “Buy”

Ceridian HCM (NYSE:CDAYGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Friday, Zacks.com reports. The firm currently has a $62.00 price target on the stock. Zacks Investment Research‘s target price points to a potential upside of 9.54% from the stock’s current price.

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. “

Other equities research analysts also recently issued research reports about the company. 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. Deutsche Bank Aktiengesellschaft reduced their price objective on Ceridian HCM from $105.00 to $85.00 in a research note on Thursday, May 5th. Barclays reduced their price objective on Ceridian HCM from $83.00 to $60.00 and set an “underweight” rating on the stock in a research note on Tuesday, April 19th. Mizuho reduced their price objective on Ceridian HCM from $100.00 to $80.00 in a research note on Monday, May 9th. Finally, Piper Sandler reduced their price objective on Ceridian HCM from $105.00 to $85.00 and set a “neutral” rating on the stock in a research note on Thursday, February 10th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Ceridian HCM presently has an average rating of “Hold” and a consensus price target of $81.92.

CDAY stock traded up $0.95 during trading on Friday, reaching $56.60. 1,617,681 shares of the stock traded hands, compared to its average volume of 1,834,888. The business’s 50 day moving average price is $61.27 and its 200-day moving average price is $81.52. Ceridian HCM has a 52-week low of $48.93 and a 52-week high of $130.37. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.05 and a quick ratio of 1.05. The firm has a market capitalization of $8.64 billion, a PE ratio of -102.91 and a beta of 1.51.

Ceridian HCM (NYSE:CDAYGet Rating) last posted its quarterly earnings results on Wednesday, May 4th. The company reported $0.13 earnings per share (EPS) 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 firm had revenue of $293.30 million during the quarter, compared to the consensus estimate of $289.44 million. During the same quarter in the previous year, the business earned ($0.03) earnings per share. The firm’s quarterly revenue was up 25.1% compared to the same quarter last year. On average, equities research analysts predict that Ceridian HCM will post -0.22 earnings per share for the current year.

In other Ceridian HCM news, EVP William Everett Mcdonald sold 1,225 shares of the company’s stock in a transaction that occurred on Wednesday, March 9th. The stock was sold at an average price of $62.49, for a total transaction of $76,550.25. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Christopher R. Armstrong sold 1,811 shares of the company’s stock in a transaction that occurred on Monday, May 9th. The shares were sold at an average price of $52.99, for a total value of $95,964.89. Following the sale, the chief operating officer now owns 112,977 shares in the company, valued at approximately $5,986,651.23. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,251 shares of company stock worth $1,126,494. Insiders own 4.00% of the company’s stock.

Several large investors have recently bought and sold shares of CDAY. Metropolitan Life Insurance Co NY grew its holdings in shares of Ceridian HCM by 35.4% during the first quarter. Metropolitan Life Insurance Co NY now owns 3,655 shares of the company’s stock valued at $187,000 after purchasing an additional 955 shares during the last quarter. First Trust Advisors LP bought a new position in shares of Ceridian HCM during the first quarter valued at approximately $6,042,000. Morgan Stanley grew its holdings in shares of Ceridian HCM by 3.7% during the second quarter. Morgan Stanley now owns 532,360 shares of the company’s stock valued at $51,065,000 after purchasing an additional 18,865 shares during the last quarter. Raymond James & Associates bought a new position in Ceridian HCM in the 3rd quarter worth approximately $315,000. Finally, Advisor Group Holdings Inc. grew its holdings in Ceridian HCM by 23.5% in the 3rd quarter. Advisor Group Holdings Inc. now owns 4,739 shares of the company’s stock worth $533,000 after buying an additional 901 shares in the last quarter.

Ceridian HCM Company Profile (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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