Ceridian HCM (CDAY) Shares Down 5.5%

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Ceridian HCM Holding Inc (NYSE:CDAY)’s share price dropped 5.5% during mid-day trading on Monday . The company traded as low as $47.15 and last traded at $47.61. Approximately 629,100 shares traded hands during trading, a decline of 1% from the average daily volume of 637,442 shares. The stock had previously closed at $50.36.

A number of brokerages have recently commented on CDAY. Goldman Sachs Group began coverage on Ceridian HCM in a research report on Friday, February 1st. They set a “neutral” rating and a $37.00 price objective for the company. Piper Jaffray Companies restated an “overweight” rating and issued a $50.00 target price on shares of Ceridian HCM in a report on Thursday, February 7th. Needham & Company LLC increased their target price on Ceridian HCM to $53.00 and gave the company a “buy” rating in a report on Thursday, February 7th. Mitsubishi UFJ Financial Group increased their target price on Ceridian HCM to $49.00 and gave the company an “overweight” rating in a report on Thursday, February 7th. Finally, Zacks Investment Research upgraded Ceridian HCM from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a report on Thursday, February 7th. Ten equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Ceridian HCM currently has an average rating of “Hold” and a consensus price target of $44.87.

The company has a debt-to-equity ratio of 0.41, a current ratio of 1.04 and a quick ratio of 1.04. The firm has a market capitalization of $6.71 billion and a PE ratio of -997.40.

Ceridian HCM (NYSE:CDAY) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $0.08 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by ($0.04). Ceridian HCM had a positive return on equity of 0.89% and a negative net margin of 5.13%. The firm had revenue of $203.70 million for the quarter, compared to analysts’ expectations of $203.99 million. During the same quarter in the prior year, the business posted ($0.07) earnings per share. Ceridian HCM’s revenue was up 7.9% on a year-over-year basis. Sell-side analysts expect that Ceridian HCM Holding Inc will post 0.28 EPS for the current fiscal year.

In other Ceridian HCM news, CFO Arthur Gitajn sold 86,500 shares of the stock in a transaction on Wednesday, February 20th. The shares were sold at an average price of $47.01, for a total transaction of $4,066,365.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Lisa M. Sterling sold 11,250 shares of the stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $49.84, for a total transaction of $560,700.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 14,319,892 shares of company stock valued at $701,369,802. 26.90% of the stock is owned by corporate insiders.

Several large investors have recently modified their holdings of the company. Deutsche Bank AG grew its position in Ceridian HCM by 23.8% during the fourth quarter. Deutsche Bank AG now owns 1,425 shares of the company’s stock worth $48,000 after buying an additional 274 shares in the last quarter. American International Group Inc. grew its position in Ceridian HCM by 48.7% during the fourth quarter. American International Group Inc. now owns 849 shares of the company’s stock worth $29,000 after buying an additional 278 shares in the last quarter. TIAA CREF Investment Management LLC grew its position in Ceridian HCM by 0.7% during the third quarter. TIAA CREF Investment Management LLC now owns 53,377 shares of the company’s stock worth $2,243,000 after buying an additional 345 shares in the last quarter. Public Employees Retirement Association of Colorado lifted its stake in Ceridian HCM by 47.0% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 1,280 shares of the company’s stock worth $44,000 after purchasing an additional 409 shares during the period. Finally, Utah Retirement Systems lifted its stake in Ceridian HCM by 10.6% during the first quarter. Utah Retirement Systems now owns 7,190 shares of the company’s stock worth $369,000 after purchasing an additional 690 shares during the period. 69.56% of the stock is currently owned by institutional investors.

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About Ceridian HCM (NYSE:CDAY)

Ceridian HCM Holding Inc operates as a human capital management (HCM) software company in the United States and internationally. The company offers Dayforce, a cloud HCM platform that provides human resources (HR), payroll, benefits, workforce management, and talent management functionality; and Powerpay, a cloud platform, which offers scalable and straightforward payroll and HR solutions.

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