Ceridian HCM (CDAY) Shares Up 4.8%
Ceridian HCM Holding Inc (NYSE:CDAY) shot up 4.8% on Monday . The stock traded as high as $41.85 and last traded at $43.34. 13,727 shares changed hands during mid-day trading, a decline of 94% from the average session volume of 226,652 shares. The stock had previously closed at $41.34.
Several research firms have recently weighed in on CDAY. Barclays increased their price objective on Ceridian HCM from $35.00 to $36.00 and gave the company an “equal weight” rating in a report on Friday, September 7th. Guggenheim initiated coverage on Ceridian HCM in a report on Monday, August 20th. They set a “buy” rating and a $45.00 price target for the company. Canaccord Genuity reaffirmed a “hold” rating and set a $36.00 price target on shares of Ceridian HCM in a report on Friday, August 10th. Citigroup decreased their price target on Ceridian HCM from $38.00 to $35.00 and set a “neutral” rating for the company in a report on Friday, August 10th. Finally, William Blair raised Ceridian HCM from a “market perform” rating to an “outperform” rating in a report on Friday, August 10th. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $39.17.
The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.03 and a current ratio of 1.03.
Several hedge funds and other institutional investors have recently modified their holdings of CDAY. Lee Thomas H Partners LP purchased a new position in Ceridian HCM in the second quarter worth $2,306,874,000. Whale Rock Capital Management LLC purchased a new position in Ceridian HCM in the second quarter worth $48,340,000. Fidelity National Financial Inc. purchased a new position in Ceridian HCM in the second quarter worth $33,190,000. BlackRock Inc. purchased a new position in Ceridian HCM in the second quarter worth $28,814,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in Ceridian HCM in the second quarter worth $27,807,000. 70.73% of the stock is owned by hedge funds and other institutional investors.
Ceridian HCM Company Profile (NYSE:CDAY)
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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