Ceridian HCM (NYSE:CDAY) PT Raised to $77.00

Ceridian HCM (NYSE:CDAYGet Rating) had its target price upped by Cowen from $70.00 to $77.00 in a research report issued to clients and investors on Monday, Stock Target Advisor reports. The firm currently has an “outperform” rating on the stock. Cowen’s price objective would suggest a potential upside of 5.94% from the company’s current price.

A number of other research analysts also recently weighed in on the company. Cowen lifted their price target on Ceridian HCM from $70.00 to $77.00 and gave the company an “outperform” rating in a report on Monday. Deutsche Bank Aktiengesellschaft reduced their target price on Ceridian HCM from $85.00 to $80.00 in a research report on Thursday, August 4th. Credit Suisse Group boosted their target price on shares of Ceridian HCM from $70.00 to $75.00 and gave the company an “outperform” rating in a research note on Thursday, August 4th. BMO Capital Markets lifted their price target on Ceridian HCM from $70.00 to $73.00 and gave the company an “outperform” rating in a report on Thursday, August 4th. Finally, JPMorgan Chase & Co. dropped their target price on Ceridian HCM from $75.00 to $70.00 and set a “neutral” rating for the company in a research report on Thursday, November 3rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $71.15.

Ceridian HCM Price Performance

Shares of CDAY stock opened at $72.68 on Monday. The firm has a market cap of $11.02 billion, a P/E ratio of -142.51 and a beta of 1.47. The firm has a fifty day moving average of $59.87 and a two-hundred day moving average of $57.05. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.07 and a quick ratio of 1.07. Ceridian HCM has a 1-year low of $43.23 and a 1-year high of $121.22.

Insider Buying and Selling

In other Ceridian HCM news, COO Christopher R. Armstrong sold 12,500 shares of the business’s stock in a transaction dated Wednesday, September 28th. The shares were sold at an average price of $58.00, for a total value of $725,000.00. Following the transaction, the chief operating officer now directly owns 100,477 shares in the company, valued at $5,827,666. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, COO Christopher R. Armstrong sold 12,500 shares of the business’s stock in a transaction dated Wednesday, September 28th. The stock was sold at an average price of $58.00, for a total transaction of $725,000.00. Following the completion of the transaction, the chief operating officer now directly owns 100,477 shares in the company, valued at $5,827,666. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Joseph B. Korngiebel sold 11,418 shares of Ceridian HCM stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $63.27, for a total transaction of $722,416.86. Following the sale, the executive vice president now directly owns 99,603 shares of the company’s stock, valued at $6,301,881.81. The disclosure for this sale can be found here. Insiders have sold a total of 47,988 shares of company stock worth $2,891,617 in the last ninety days. Corporate insiders own 3.90% of the company’s stock.

Institutional Trading of Ceridian HCM

A number of institutional investors have recently made changes to their positions in CDAY. Fifth Third Bancorp boosted its stake in Ceridian HCM by 2.4% during the third quarter. Fifth Third Bancorp now owns 7,376 shares of the company’s stock worth $412,000 after buying an additional 171 shares during the period. Inspire Investing LLC raised its stake in shares of Ceridian HCM by 0.8% during the second quarter. Inspire Investing LLC now owns 22,474 shares of the company’s stock valued at $1,058,000 after acquiring an additional 174 shares in the last quarter. Fisher Asset Management LLC boosted its holdings in shares of Ceridian HCM by 0.6% in the third quarter. Fisher Asset Management LLC now owns 32,154 shares of the company’s stock valued at $1,797,000 after purchasing an additional 191 shares during the period. State of Michigan Retirement System grew its stake in Ceridian HCM by 0.6% in the first quarter. State of Michigan Retirement System now owns 34,510 shares of the company’s stock worth $2,359,000 after purchasing an additional 210 shares in the last quarter. Finally, Royal London Asset Management Ltd. lifted its holdings in shares of Ceridian HCM by 0.5% in the 3rd quarter. Royal London Asset Management Ltd. now owns 44,453 shares of the company’s stock worth $2,487,000 after buying an additional 212 shares during the period.

About Ceridian HCM

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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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