Zacks: Brokerages Anticipate Ceridian HCM Holding Inc (CDAY) Will Post Quarterly Sales of $196.63 Million

Brokerages forecast that Ceridian HCM Holding Inc (NYSE:CDAY) will post sales of $196.63 million for the current quarter, Zacks reports. Seven analysts have provided estimates for Ceridian HCM’s earnings, with the highest sales estimate coming in at $198.01 million and the lowest estimate coming in at $196.10 million. The business is scheduled to issue its next quarterly earnings report on Monday, February 4th.

On average, analysts expect that Ceridian HCM will report full year sales of $742.73 million for the current year, with estimates ranging from $742.20 million to $744.11 million. For the next financial year, analysts expect that the company will post sales of $810.05 million, with estimates ranging from $774.70 million to $828.80 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Ceridian HCM.

Ceridian HCM (NYSE:CDAY) last announced its quarterly earnings results on Monday, October 29th. The company reported $0.05 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.03. Ceridian HCM had a positive return on equity of 2.64% and a negative net margin of 2.25%. The business had revenue of $179.60 million for the quarter, compared to analyst estimates of $176.29 million. The company’s revenue for the quarter was up 9.8% on a year-over-year basis.

CDAY has been the topic of several recent research reports. Zacks Investment Research downgraded Ceridian HCM from a “hold” rating to a “sell” rating in a report on Wednesday, October 10th. Credit Suisse Group initiated coverage on Ceridian HCM in a report on Friday, October 5th. They set a “neutral” rating and a $45.00 price target on the stock. Canaccord Genuity restated a “hold” rating and set a $36.00 price target on shares of Ceridian HCM in a report on Monday, October 29th. Deutsche Bank upped their price target on Ceridian HCM from $40.00 to $42.00 and gave the stock a “hold” rating in a report on Tuesday, October 9th. Finally, William Blair upgraded Ceridian HCM from a “market perform” rating to an “outperform” rating in a report on Friday, August 10th. Nine equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Ceridian HCM presently has a consensus rating of “Hold” and an average price target of $39.86.

In other news, CFO Arthur Gitajn sold 135,755 shares of the stock in a transaction dated Tuesday, October 23rd. The stock was sold at an average price of $36.18, for a total value of $4,911,615.90. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Several hedge funds and other institutional investors have recently made changes to their positions in CDAY. Lee Thomas H Partners LP acquired a new stake in shares of Ceridian HCM in the 2nd quarter valued at about $2,306,874,000. State of New Jersey Common Pension Fund D acquired a new stake in shares of Ceridian HCM in the 2nd quarter valued at about $996,000. TD Asset Management Inc. acquired a new stake in shares of Ceridian HCM in the 2nd quarter valued at about $1,965,000. TCW Group Inc. acquired a new stake in shares of Ceridian HCM in the 2nd quarter valued at about $13,205,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Ceridian HCM in the 2nd quarter valued at about $27,807,000. 72.03% of the stock is owned by hedge funds and other institutional investors.

Shares of CDAY stock traded up $1.25 on Friday, hitting $39.25. The stock had a trading volume of 1,220,019 shares, compared to its average volume of 591,559. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.43. Ceridian HCM has a 1 year low of $28.65 and a 1 year high of $44.98.

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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Earnings History and Estimates for Ceridian HCM (NYSE:CDAY)

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