Ceridian HCM (NYSE:CDAY) Price Target Cut to $56.00

Ceridian HCM (NYSE:CDAY – Get Rating) had its price objective cut by stock analysts at Jefferies Financial Group from $65.00 to $56.00 in a research report issued to clients and investors on Monday, The Fly reports. Jefferies Financial Group’s price objective suggests a potential downside of 2.13% from the company’s previous close.

Several other equities analysts have also weighed in on CDAY. Robert W. Baird reduced their price objective on Ceridian HCM from $105.00 to $80.00 in a research note on Thursday, May 5th. TheStreet lowered Ceridian HCM from a “c-” rating to a “d+” rating in a research note on Tuesday, April 26th. Cowen reduced their price objective on Ceridian HCM from $90.00 to $75.00 in a research note on Thursday, May 5th. Credit Suisse Group assumed coverage on Ceridian HCM in a research report on Wednesday, March 23rd. They set an “outperform” rating and a $85.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on Ceridian HCM from $105.00 to $85.00 in a research report on Thursday, May 5th. Two research 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. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $78.92.

CDAY opened at $57.22 on Monday. 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 stock has a market capitalization of $8.73 billion, a price-to-earnings ratio of -104.03 and a beta of 1.51. The business has a 50-day moving average of $61.22 and a two-hundred day moving average of $80.39. Ceridian HCM has a 12 month low of $48.93 and a 12 month high of $130.37.

Ceridian HCM (NYSE:CDAY – Get Rating) last released its quarterly earnings data on Wednesday, May 4th. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.05. The business had revenue of $293.30 million for the quarter, compared to analyst estimates of $289.44 million. Ceridian HCM had a negative return on equity of 3.11% and a negative net margin of 7.72%. The company’s revenue was up 25.1% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.03) EPS. Equities research analysts anticipate that Ceridian HCM will post -0.22 earnings per share for the current year.

In other news, COO Christopher R. Armstrong sold 1,811 shares of the business’s stock in a transaction that occurred on Monday, May 9th. The stock was sold at an average price of $52.99, for a total value of $95,964.89. Following the completion of the sale, the chief operating officer now directly owns 112,977 shares in the company, valued at approximately $5,986,651.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP William Everett Mcdonald sold 1,225 shares of the business’s stock in a transaction that occurred 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 ninety days, insiders sold 19,251 shares of company stock worth $1,126,494. 4.00% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. Connor Clark & Lunn Investment Management Ltd. grew its stake in Ceridian HCM by 132.7% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 12,800 shares of the company’s stock worth $1,339,000 after buying an additional 7,300 shares during the last quarter. DNB Asset Management AS grew its stake in Ceridian HCM by 25.4% during the 4th quarter. DNB Asset Management AS now owns 20,643 shares of the company’s stock worth $2,156,000 after buying an additional 4,178 shares during the last quarter. Voya Investment Management LLC grew its stake in Ceridian HCM by 125.7% during the 3rd quarter. Voya Investment Management LLC now owns 55,944 shares of the company’s stock worth $6,301,000 after buying an additional 31,159 shares during the last quarter. New York State Common Retirement Fund grew its stake in Ceridian HCM by 3.2% during the 4th quarter. New York State Common Retirement Fund now owns 152,958 shares of the company’s stock worth $15,978,000 after buying an additional 4,711 shares during the last quarter. Finally, Pictet Asset Management SA grew its stake in shares of Ceridian HCM by 19.8% in the fourth quarter. Pictet Asset Management SA now owns 431,697 shares of the company’s stock worth $45,095,000 after purchasing an additional 71,485 shares in the last quarter.

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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