Ceridian HCM Holding Inc. to Post FY2023 Earnings of $0.58 Per Share, DA Davidson Forecasts (NYSE:CDAY)

Ceridian HCM Holding Inc. (NYSE:CDAYFree Report) – Equities researchers at DA Davidson issued their FY2023 EPS estimates for shares of Ceridian HCM in a research note issued to investors on Thursday, November 2nd. DA Davidson analyst R. Simmons forecasts that the company will post earnings of $0.58 per share for the year. The consensus estimate for Ceridian HCM’s current full-year earnings is $0.39 per share. DA Davidson also issued estimates for Ceridian HCM’s Q4 2023 earnings at $0.16 EPS and FY2024 earnings at $1.06 EPS.

A number of other research analysts also recently issued reports on the stock. Barclays boosted their target price on shares of Ceridian HCM from $73.00 to $74.00 and gave the company an “equal weight” rating in a research report on Thursday, August 3rd. The Goldman Sachs Group initiated coverage on shares of Ceridian HCM in a report on Monday, October 23rd. They set a “neutral” rating and a $74.00 price objective on the stock. Needham & Company LLC restated a “buy” rating and set a $82.00 price objective on shares of Ceridian HCM in a report on Thursday. Citigroup upped their price objective on shares of Ceridian HCM from $74.00 to $84.00 and gave the stock a “buy” rating in a report on Friday, July 21st. Finally, Piper Sandler restated a “neutral” rating and set a $73.00 price objective on shares of Ceridian HCM in a report on Thursday, October 12th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Ceridian HCM currently has an average rating of “Moderate Buy” and an average target price of $78.47.

Read Our Latest Stock Report on CDAY

Ceridian HCM Stock Down 2.8 %

Ceridian HCM stock opened at $65.20 on Monday. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.54. Ceridian HCM has a 12-month low of $52.92 and a 12-month high of $79.66. The firm’s fifty day moving average is $70.07 and its 200 day moving average is $67.52. The company has a market capitalization of $10.15 billion, a PE ratio of 2,173.33, a PEG ratio of 3.81 and a beta of 1.43.

Hedge Funds Weigh In On Ceridian HCM

Several institutional investors have recently added to or reduced their stakes in the stock. Connor Clark & Lunn Investment Management Ltd. bought a new position in Ceridian HCM during the first quarter worth about $1,549,000. Prudential PLC boosted its position in Ceridian HCM by 35.3% during the first quarter. Prudential PLC now owns 8,170 shares of the company’s stock worth $598,000 after purchasing an additional 2,130 shares during the period. Oregon Public Employees Retirement Fund boosted its position in Ceridian HCM by 1.6% during the second quarter. Oregon Public Employees Retirement Fund now owns 12,036 shares of the company’s stock worth $806,000 after purchasing an additional 184 shares during the period. MQS Management LLC bought a new position in Ceridian HCM during the first quarter worth about $215,000. Finally, Toronto Dominion Bank boosted its position in Ceridian HCM by 8.5% during the first quarter. Toronto Dominion Bank now owns 79,641 shares of the company’s stock worth $5,828,000 after purchasing an additional 6,256 shares during the period.

Insider Transactions at Ceridian HCM

In related news, CEO Leagh Erin Turner sold 6,000 shares of the stock in a transaction dated Monday, October 9th. The shares were sold at an average price of $70.99, for a total transaction of $425,940.00. Following the completion of the transaction, the chief executive officer now owns 245,201 shares in the company, valued at $17,406,818.99. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, CEO Leagh Erin Turner sold 6,000 shares of the stock in a transaction dated Monday, October 9th. The shares were sold at an average price of $70.99, for a total transaction of $425,940.00. Following the completion of the transaction, the chief executive officer now owns 245,201 shares in the company, valued at $17,406,818.99. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Joseph B. Korngiebel sold 11,193 shares of the stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $70.26, for a total transaction of $786,420.18. Following the transaction, the executive vice president now owns 113,060 shares of the company’s stock, valued at approximately $7,943,595.60. The disclosure for this sale can be found here. Insiders sold a total of 24,193 shares of company stock worth $1,723,440 in the last quarter. 4.50% of the stock is currently owned by corporate insiders.

Ceridian HCM Company Profile

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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, 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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