Veritable L.P. Lowers Position in Ceridian HCM Holding Inc. (NYSE:CDAY)

Veritable L.P. decreased its position in Ceridian HCM Holding Inc. (NYSE:CDAY) by 19.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,112 shares of the company’s stock after selling 1,974 shares during the period. Veritable L.P.’s holdings in Ceridian HCM were worth $543,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Global Retirement Partners LLC boosted its holdings in Ceridian HCM by 2,300.0% during the second quarter. Global Retirement Partners LLC now owns 432 shares of the company’s stock worth $29,000 after buying an additional 414 shares in the last quarter. Advisors Asset Management Inc. purchased a new stake in Ceridian HCM during the first quarter worth about $41,000. Sentry Investment Management LLC purchased a new stake in Ceridian HCM during the second quarter worth about $43,000. Desjardins Global Asset Management Inc. boosted its holdings in Ceridian HCM by 260.6% during the second quarter. Desjardins Global Asset Management Inc. now owns 833 shares of the company’s stock worth $56,000 after buying an additional 602 shares in the last quarter. Finally, V Square Quantitative Management LLC purchased a new stake in Ceridian HCM during the second quarter worth about $78,000.

Analysts Set New Price Targets

CDAY has been the topic of a number of research analyst reports. The Goldman Sachs Group assumed 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 target price on shares of Ceridian HCM in a research report on Thursday, November 2nd. Piper Sandler restated a “neutral” rating and set a $73.00 target price on shares of Ceridian HCM in a research report on Thursday, October 12th. JPMorgan Chase & Co. cut their target price on shares of Ceridian HCM from $65.00 to $62.00 and set a “neutral” rating for the company in a research report on Thursday, November 2nd. Finally, UBS Group started coverage on shares of Ceridian HCM in a research report on Tuesday, November 7th. They set a “buy” rating and a $87.00 target price for the company. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $79.06.

Ceridian HCM Price Performance

CDAY opened at $69.29 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.09 and a debt-to-equity ratio of 0.53. Ceridian HCM Holding Inc. has a 52-week low of $55.62 and a 52-week high of $79.66. The company has a 50 day moving average of $68.87 and a two-hundred day moving average of $67.63. The company has a market cap of $10.82 billion, a P/E ratio of 2,310.44, a P/E/G ratio of 3.15 and a beta of 1.43.

Insiders Place Their Bets

In other Ceridian HCM news, EVP Joseph B. Korngiebel sold 11,193 shares of the business’s stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $70.26, for a total transaction of $786,420.18. Following the completion of the sale, the executive vice president now directly owns 113,060 shares in the company, valued at $7,943,595.60. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, EVP Joseph B. Korngiebel sold 11,193 shares of the company’s stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $70.26, for a total value of $786,420.18. Following the completion of the transaction, the executive vice president now directly owns 113,060 shares in the company, valued at $7,943,595.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Leagh Erin Turner sold 6,000 shares of the company’s stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $72.68, for a total transaction of $436,080.00. Following the completion of the transaction, the chief executive officer now owns 245,201 shares of the company’s stock, valued at $17,821,208.68. The disclosure for this sale can be found here. Insiders sold a total of 34,277 shares of company stock worth $2,386,878 over the last ninety days. 4.50% of the stock is owned by company insiders.

Ceridian HCM Profile

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.