Zacks Investment Research cut shares of Ceridian HCM (NYSE:CDAY) from a hold rating to a sell rating in a report released on Wednesday morning.

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. “

Several other equities research analysts also recently commented on the company. Credit Suisse Group started coverage on Ceridian HCM in a report on Friday, October 5th. They set a neutral rating and a $45.00 target price on the stock. Deutsche Bank raised their target price on Ceridian HCM from $40.00 to $42.00 and gave the company a hold rating in a report on Tuesday. William Blair upgraded Ceridian HCM from a market perform rating to an outperform rating in a report on Friday, August 10th. Citigroup dropped their target price on Ceridian HCM from $38.00 to $35.00 and set a neutral rating on the stock in a report on Friday, August 10th. Finally, Guggenheim started coverage on Ceridian HCM in a report on Monday, August 20th. They set a buy rating and a $45.00 target price on the stock. One analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company. The stock presently has an average rating of Hold and an average price target of $39.77.

Ceridian HCM stock opened at $36.22 on Wednesday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.03 and a quick ratio of 1.03. Ceridian HCM has a 12 month low of $28.65 and a 12 month high of $44.98.

Ceridian HCM (NYSE:CDAY) last released its quarterly earnings data on Wednesday, August 8th. The company reported ($0.15) EPS for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.05. The firm had revenue of $179.30 million during the quarter, compared to analysts’ expectations of $174.47 million. As a group, equities analysts predict that Ceridian HCM will post -0.25 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Northern Trust Corp acquired a new stake in Ceridian HCM during the 2nd quarter valued at approximately $4,813,000. TPG Group Holdings SBS Advisors Inc. acquired a new stake in Ceridian HCM during the 2nd quarter valued at approximately $6,638,000. Bank of New York Mellon Corp acquired a new stake in Ceridian HCM during the 2nd quarter valued at approximately $1,969,000. Public Employees Retirement System of Ohio acquired a new stake in Ceridian HCM during the 2nd quarter valued at approximately $286,000. Finally, Soros Fund Management LLC acquired a new stake in Ceridian HCM during the 2nd quarter valued at approximately $2,489,000. Hedge funds and other institutional investors own 72.15% of the company’s stock.

About Ceridian HCM

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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