Ceridian HCM (NYSE:CDAY) Cut to “Hold” at Zacks Investment Research

Zacks Investment Research cut shares of Ceridian HCM (NYSE:CDAYGet Rating) from a buy rating to a hold rating in a research report report published on Thursday, Zacks.com reports.

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. “

CDAY has been the topic of several other reports. Cowen decreased their price target on shares of Ceridian HCM from $90.00 to $75.00 in a research note on Thursday, May 5th. William Blair reissued an outperform rating on shares of Ceridian HCM in a research note on Thursday, May 5th. TheStreet cut shares of Ceridian HCM from a c- rating to a d+ rating in a report on Tuesday, April 26th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Ceridian HCM from $105.00 to $85.00 in a report on Thursday, May 5th. Finally, Barclays cut their target price on shares of Ceridian HCM from $83.00 to $60.00 and set an underweight rating on the stock in a report on Tuesday, April 19th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Hold and a consensus price target of $81.92.

Shares of CDAY opened at $56.60 on Thursday. The firm’s 50 day simple moving average is $61.22 and its 200 day simple moving average is $80.39. The company has a market capitalization of $8.64 billion, a P/E ratio of -102.91 and a beta of 1.51. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.05 and a quick ratio of 1.05. Ceridian HCM has a 1-year low of $48.93 and a 1-year high of $130.37.

Ceridian HCM (NYSE:CDAYGet Rating) last posted its quarterly earnings results on Wednesday, May 4th. The company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.08 by $0.05. The firm had revenue of $293.30 million for the quarter, compared to the consensus estimate of $289.44 million. Ceridian HCM had a negative net margin of 7.72% and a negative return on equity of 3.11%. The business’s revenue was up 25.1% compared to the same quarter last year. During the same period last year, the firm posted ($0.03) earnings per share. On average, equities analysts anticipate that Ceridian HCM will post -0.22 earnings per share for the current year.

In other Ceridian HCM news, CFO Noemie Clemence Heuland sold 592 shares of the firm’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 transaction of $36,994.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP William Everett Mcdonald sold 1,225 shares of the firm’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 transaction of $76,550.25. 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. 4.00% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Toroso Investments LLC increased its stake in shares of Ceridian HCM by 16.7% during the first quarter. Toroso Investments LLC now owns 3,970 shares of the company’s stock valued at $271,000 after purchasing an additional 569 shares in the last quarter. Capital Group International Inc. CA increased its position in shares of Ceridian HCM by 12,071.5% during the first quarter. Capital Group International Inc. CA now owns 523,981 shares of the company’s stock valued at $35,819,000 after acquiring an additional 519,676 shares in the last quarter. Capital International Investors bought a new stake in shares of Ceridian HCM during the first quarter valued at approximately $366,250,000. Walleye Capital LLC bought a new stake in shares of Ceridian HCM during the first quarter valued at approximately $648,000. Finally, Virtu Financial LLC bought a new stake in shares of Ceridian HCM during the first quarter valued at approximately $890,000.

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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