Ceridian HCM (NYSE:CDAY) Now Covered by Cantor Fitzgerald

Cantor Fitzgerald started coverage on shares of Ceridian HCM (NYSE:CDAY) in a research report sent to investors on Wednesday, BenzingaRatingsTable reports. The firm issued an overweight rating and a $65.00 price target on the stock.

A number of other brokerages also recently commented on CDAY. Barclays set a $50.00 price target on shares of Ceridian HCM and gave the stock a hold rating in a report on Wednesday, July 31st. Mizuho set a $65.00 price target on shares of Ceridian HCM and gave the stock a buy rating in a report on Friday, September 6th. Canaccord Genuity set a $55.00 price target on shares of Ceridian HCM and gave the stock a hold rating in a report on Wednesday, July 31st. ValuEngine downgraded shares of Ceridian HCM from a buy rating to a hold rating in a report on Wednesday, September 4th. Finally, Credit Suisse Group lifted their price target on shares of Ceridian HCM from $45.00 to $52.00 and gave the stock a neutral rating in a report on Wednesday, July 31st. Eight equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock has an average rating of Hold and a consensus target price of $56.08.

Shares of CDAY opened at $51.79 on Wednesday. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.40. The stock has a market cap of $7.50 billion, a P/E ratio of 201.42 and a beta of 1.53. The company has a 50-day moving average of $53.85 and a two-hundred day moving average of $51.23. Ceridian HCM has a 12-month low of $31.39 and a 12-month high of $58.95.

Ceridian HCM (NYSE:CDAY) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.05. The business had revenue of $196.30 million during the quarter, compared to the consensus estimate of $192.29 million. Ceridian HCM had a net margin of 4.19% and a return on equity of 2.34%. The company’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.44) earnings per share. As a group, analysts forecast that Ceridian HCM will post 0.5 EPS for the current fiscal year.

In other Ceridian HCM news, CEO David D. Ossip sold 500,000 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $56.00, for a total transaction of $28,000,000.00. Also, Director Thomas H. Lee Advisors, Llc sold 6,500,000 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $56.00, for a total transaction of $364,000,000.00. Over the last 90 days, insiders sold 17,201,162 shares of company stock valued at $895,176,581. 26.90% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Aperio Group LLC acquired a new position in shares of Ceridian HCM during the second quarter worth $25,000. Deutsche Bank AG lifted its position in shares of 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 purchasing an additional 274 shares in the last quarter. Toronto Dominion Bank lifted its position in shares of Ceridian HCM by 2,627.9% during the second quarter. Toronto Dominion Bank now owns 1,664 shares of the company’s stock worth $57,000 after purchasing an additional 1,603 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Ceridian HCM by 81.1% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,740 shares of the company’s stock worth $89,000 after purchasing an additional 779 shares in the last quarter. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. acquired a new position in shares of Ceridian HCM during the first quarter worth $92,000. 81.92% of the stock is currently owned by institutional investors and hedge funds.

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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