Ceridian HCM (NYSE:CDAY) Price Target Raised to $60.00

Ceridian HCM (NYSE:CDAYGet Rating) had its price target lifted by investment analysts at Piper Sandler from $48.00 to $60.00 in a research report issued on Thursday, MarketBeat.com reports. The firm presently has a “neutral” rating on the stock. Piper Sandler’s price target suggests a potential downside of 7.75% from the company’s previous close.

Several other research analysts also recently commented on CDAY. Deutsche Bank Aktiengesellschaft reduced their price objective on Ceridian HCM from $105.00 to $85.00 in a report on Thursday, May 5th. Barclays reduced their price objective on Ceridian HCM from $59.00 to $52.00 and set an “underweight” rating on the stock in a report on Monday, July 18th. Cowen dropped their target price on Ceridian HCM from $90.00 to $75.00 in a research report on Thursday, May 5th. Jefferies Financial Group dropped their target price on Ceridian HCM from $65.00 to $56.00 in a research report on Monday, May 23rd. Finally, BMO Capital Markets dropped their target price on Ceridian HCM from $91.00 to $83.00 in a research report on Thursday, May 5th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $75.50.

Ceridian HCM Trading Up 0.2 %

Shares of NYSE CDAY opened at $65.04 on Thursday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.05 and a current ratio of 1.05. The business’s 50 day moving average price is $51.89 and its 200-day moving average price is $60.54. Ceridian HCM has a fifty-two week low of $43.23 and a fifty-two week high of $130.37. The company has a market cap of $9.93 billion, a price-to-earnings ratio of -127.53 and a beta of 1.55.

Ceridian HCM (NYSE:CDAYGet Rating) last issued its quarterly earnings results on Wednesday, May 4th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.01). Ceridian HCM had a negative return on equity of 2.65% and a negative net margin of 6.84%. The business had revenue of $293.30 million during the quarter, compared to analysts’ expectations of $289.44 million. During the same quarter in the previous year, the company posted ($0.03) earnings per share. The company’s quarterly revenue was up 25.1% compared to the same quarter last year. On average, sell-side analysts expect that Ceridian HCM will post -0.16 earnings per share for the current year.

Insiders Place Their Bets

In other Ceridian HCM news, COO Christopher R. Armstrong sold 1,811 shares of Ceridian HCM stock in a transaction dated Monday, May 9th. The stock was sold at an average price of $52.99, for a total transaction of $95,964.89. Following the completion of the sale, the chief operating officer now owns 112,977 shares of the company’s stock, valued at approximately $5,986,651.23. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Ceridian HCM news, EVP Rakesh Subramanian sold 4,315 shares of Ceridian HCM stock in a transaction dated Monday, May 9th. The stock was sold at an average price of $53.00, for a total transaction of $228,695.00. Following the completion of the sale, the executive vice president now owns 59,441 shares of the company’s stock, valued at approximately $3,150,373. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Christopher R. Armstrong sold 1,811 shares of Ceridian HCM stock in a transaction dated Monday, May 9th. The shares were sold at an average price of $52.99, for a total value of $95,964.89. Following the transaction, the chief operating officer now owns 112,977 shares of the company’s stock, valued at approximately $5,986,651.23. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,289 shares of company stock valued at $333,299. 4.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Ceridian HCM

A number of institutional investors have recently modified their holdings of the stock. Capital Research Global Investors raised its stake in shares of Ceridian HCM by 1.0% during the 4th quarter. Capital Research Global Investors now owns 18,543,250 shares of the company’s stock valued at $1,937,032,000 after buying an additional 187,146 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Ceridian HCM by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 15,174,664 shares of the company’s stock valued at $1,037,341,000 after purchasing an additional 115,168 shares in the last quarter. Select Equity Group L.P. increased its stake in shares of Ceridian HCM by 22.3% in the 1st quarter. Select Equity Group L.P. now owns 14,994,453 shares of the company’s stock valued at $1,025,021,000 after purchasing an additional 2,731,243 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Ceridian HCM by 0.8% in the 4th quarter. JPMorgan Chase & Co. now owns 5,946,893 shares of the company’s stock valued at $621,213,000 after purchasing an additional 48,560 shares in the last quarter. Finally, Capital International Investors purchased a new position in shares of Ceridian HCM in the 1st quarter valued at about $366,250,000.

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 (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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Analyst Recommendations for Ceridian HCM (NYSE:CDAY)

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