Ceridian HCM (NYSE:CDAY) Lowered to “Sector Perform” at Royal Bank of Canada

Ceridian HCM (NYSE:CDAY) was downgraded by analysts at Royal Bank of Canada from an “outperform” rating to a “sector perform” rating in a research report issued on Wednesday, The Fly reports. They presently have a $51.00 price objective on the stock, down from their prior price objective of $75.00. Royal Bank of Canada’s price target indicates a potential upside of 1.41% from the stock’s current price.

Other research analysts have also issued reports about the stock. BMO Capital Markets reduced their target price on shares of Ceridian HCM from $80.00 to $74.00 and set a “market perform” rating on the stock in a report on Thursday, February 6th. They noted that the move was a valuation call. Citigroup raised their price target on shares of Ceridian HCM from $72.00 to $87.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. Mizuho restated a “buy” rating and set a $80.00 price objective on shares of Ceridian HCM in a research note on Tuesday, March 3rd. Jefferies Financial Group raised their price objective on Ceridian HCM from $73.00 to $86.00 and gave the stock a “buy” rating in a research note on Monday, February 24th. Finally, Cantor Fitzgerald raised their price target on Ceridian HCM from $65.00 to $76.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $68.65.

Ceridian HCM stock opened at $50.29 on Wednesday. Ceridian HCM has a 52 week low of $38.40 and a 52 week high of $79.11. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.37. The firm’s 50-day simple moving average is $64.50 and its 200 day simple moving average is $60.23. The firm has a market capitalization of $7.11 billion, a PE ratio of 94.89 and a beta of 1.45.

Ceridian HCM (NYSE:CDAY) last released its quarterly earnings data on Wednesday, February 5th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.07 by $0.01. Ceridian HCM had a net margin of 9.55% and a return on equity of 1.73%. The business had revenue of $221.80 million for the quarter, compared to analyst estimates of $221.15 million. During the same period in the previous year, the firm earned $0.07 EPS. The business’s revenue for the quarter was up 10.7% compared to the same quarter last year. On average, research analysts expect that Ceridian HCM will post 0.25 EPS for the current fiscal year.

In other Ceridian HCM news, EVP Lisa M. Sterling sold 15,058 shares of the business’s stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $70.21, for a total value of $1,057,222.18. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Cannae Holdings, Inc. sold 3,900,000 shares of the company’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $72.75, for a total value of $283,725,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,001,558 shares of company stock worth $291,362,277. 26.90% of the stock is currently owned by company insiders.

Several large investors have recently bought and sold shares of CDAY. Metropolitan Life Insurance Co NY grew its holdings in shares of Ceridian HCM by 35.4% during the first quarter. Metropolitan Life Insurance Co NY now owns 3,655 shares of the company’s stock worth $187,000 after buying an additional 955 shares in the last quarter. First Trust Advisors LP acquired a new position in Ceridian HCM during the first quarter valued at approximately $6,042,000. Voya Investment Management LLC boosted its position in Ceridian HCM by 29.9% during the third quarter. Voya Investment Management LLC now owns 20,814 shares of the company’s stock valued at $1,028,000 after purchasing an additional 4,796 shares during the last quarter. State Street Corp boosted its position in Ceridian HCM by 31.2% during the third quarter. State Street Corp now owns 940,455 shares of the company’s stock valued at $46,430,000 after purchasing an additional 223,491 shares during the last quarter. Finally, California State Teachers Retirement System boosted its position in Ceridian HCM by 32.0% during the third quarter. California State Teachers Retirement System now owns 130,400 shares of the company’s stock valued at $6,438,000 after purchasing an additional 31,647 shares during the last quarter. Institutional investors and hedge funds own 89.03% of the company’s stock.

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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The Fly

Analyst Recommendations for Ceridian HCM (NYSE:CDAY)

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