Ceridian HCM (CDAY) Downgraded by Zacks Investment Research to “Hold”

Ceridian HCM (NYSE:CDAY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Wednesday.

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. Canaccord Genuity reissued a “hold” rating and set a $36.00 price objective on shares of Ceridian HCM in a research note on Friday, August 10th. Credit Suisse Group assumed coverage on Ceridian HCM in a research note on Friday, October 5th. They set a “neutral” rating and a $45.00 price objective on the stock. Barclays boosted their price objective on Ceridian HCM from $35.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Friday, September 7th. William Blair raised Ceridian HCM from a “market perform” rating to an “outperform” rating in a research note on Friday, August 10th. Finally, Citigroup reduced their price objective on Ceridian HCM from $38.00 to $35.00 and set a “neutral” rating on the stock in a research note on Friday, August 10th. Nine research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $39.86.

Shares of CDAY stock traded up $1.50 during trading hours on Wednesday, hitting $37.97. The stock had a trading volume of 1,038,791 shares, compared to its average volume of 582,116. Ceridian HCM has a one year low of $28.65 and a one year high of $44.98. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.44.

Ceridian HCM (NYSE:CDAY) last issued its earnings results on Monday, October 29th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.03. The firm had revenue of $179.60 million during the quarter, compared to the consensus estimate of $176.29 million. The firm’s revenue for the quarter was up 9.8% compared to the same quarter last year. Equities research analysts predict that Ceridian HCM will post -0.24 earnings per share for the current year.

In other Ceridian HCM news, CFO Arthur Gitajn sold 135,755 shares of the business’s stock in a transaction that occurred on Tuesday, October 23rd. The stock was sold at an average price of $36.18, for a total transaction of $4,911,615.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Several large investors have recently made changes to their positions in CDAY. Voya Investment Management LLC purchased a new position in shares of Ceridian HCM during the second quarter valued at approximately $247,000. Public Employees Retirement System of Ohio purchased a new position in shares of Ceridian HCM during the second quarter valued at approximately $286,000. Point72 Asset Management L.P. purchased a new position in shares of Ceridian HCM during the second quarter valued at approximately $332,000. Cubist Systematic Strategies LLC purchased a new position in shares of Ceridian HCM during the second quarter valued at approximately $344,000. Finally, Dean Capital Investments Management LLC purchased a new position in shares of Ceridian HCM during the second quarter valued at approximately $425,000. Institutional investors and hedge funds own 72.12% of the company’s stock.

Ceridian HCM Company Profile

Ceridian HCM Holding Inc operates as a human capital management (HCM) software company worldwide. The company offers Dayforce, a cloud HCM platform that address various areas of HCM, including human resources (HR), payroll, benefits, workforce management, and talent management functionality. It also provides Powerpay, a cloud platform, which offers scalable and straightforward payroll and HR solutions; Bureau solutions for payroll and payroll-related services; and LifeWorks, an employee engagement platform that delivers employee assistance programs, social recognition, perks and discounts, a private social network, employee and corporate wellness programs, and employee engagement analytics.

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