Ceridian HCM (CDAY) Lifted to “Buy” at Zacks Investment Research

Ceridian HCM (NYSE:CDAY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Friday. The firm currently has a $56.00 price target on the stock. Zacks Investment Research‘s target price would suggest a potential upside of 8.99% from the company’s previous close.

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 subject of a number of other reports. Needham & Company LLC began coverage on shares of Ceridian HCM in a research note on Thursday, January 3rd. They set a “buy” rating and a $40.00 target price for the company. Goldman Sachs Group began coverage on shares of Ceridian HCM in a research note on Friday, February 1st. They set a “neutral” rating and a $37.00 target price for the company. Piper Jaffray Companies reiterated an “overweight” rating and set a $50.00 target price on shares of Ceridian HCM in a research note on Thursday, February 7th. Finally, Mitsubishi UFJ Financial Group boosted their target price on shares of Ceridian HCM to $49.00 and gave the company an “overweight” rating in a research note on Thursday, February 7th. Eight equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $42.73.

CDAY stock traded up $1.09 during midday trading on Friday, hitting $51.38. The company’s stock had a trading volume of 608,622 shares, compared to its average volume of 492,620. The stock has a market capitalization of $6.83 billion and a PE ratio of -1,027.60. Ceridian HCM has a 12 month low of $28.65 and a 12 month high of $51.79. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.43.

Ceridian HCM (NYSE:CDAY) last released its quarterly earnings data on Wednesday, February 6th. The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.01). The business had revenue of $200.30 million during the quarter, compared to the consensus estimate of $196.56 million. Ceridian HCM had a negative net margin of 6.82% and a positive return on equity of 0.04%. The firm’s revenue was up 9.8% on a year-over-year basis. On average, research analysts predict that Ceridian HCM will post 0.44 earnings per share for the current year.

In related news, EVP Lisa M. Sterling sold 12,500 shares of the stock in a transaction dated Thursday, January 10th. The shares were sold at an average price of $35.86, for a total value of $448,250.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Paul D. Elliott sold 17,050 shares of the stock in a transaction dated Monday, January 7th. The shares were sold at an average price of $36.00, for a total transaction of $613,800.00. The disclosure for this sale can be found here. Insiders have sold a total of 358,866 shares of company stock valued at $14,049,791 in the last three months.

Several large investors have recently made changes to their positions in CDAY. Northern Trust Corp purchased a new stake in Ceridian HCM in the 2nd quarter worth about $4,813,000. Wells Fargo & Company MN increased its position in shares of Ceridian HCM by 84.1% during the third quarter. Wells Fargo & Company MN now owns 23,627 shares of the company’s stock worth $994,000 after acquiring an additional 10,790 shares during the period. EAM Investors LLC purchased a new position in shares of Ceridian HCM during the third quarter worth approximately $2,757,000. Artemis Investment Management LLP increased its position in shares of Ceridian HCM by 23.0% during the third quarter. Artemis Investment Management LLP now owns 370,485 shares of the company’s stock worth $15,570,000 after acquiring an additional 69,324 shares during the period. Finally, Bank of New York Mellon Corp increased its position in shares of Ceridian HCM by 46.9% during the third quarter. Bank of New York Mellon Corp now owns 87,131 shares of the company’s stock worth $3,663,000 after acquiring an additional 27,805 shares during the period. 80.69% of the stock is owned by hedge funds and other institutional investors.

About Ceridian HCM

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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