Ceridian HCM (CDAY) Given New $65.00 Price Target at Piper Jaffray Companies

Ceridian HCM (NYSE:CDAY) had its price target raised by Piper Jaffray Companies from $50.00 to $65.00 in a research note issued to investors on Tuesday, The Fly reports. The brokerage currently has a positive rating on the stock. Piper Jaffray Companies also issued estimates for Ceridian HCM’s Q2 2019 earnings at $0.10 EPS, Q3 2019 earnings at $0.13 EPS, Q4 2019 earnings at $0.18 EPS, Q1 2020 earnings at $0.20 EPS, Q2 2020 earnings at $0.16 EPS, Q4 2020 earnings at $0.24 EPS and FY2020 earnings at $0.77 EPS.

Several other research analysts also recently commented on CDAY. Needham & Company LLC initiated coverage on shares of Ceridian HCM in a report on Thursday, January 3rd. They set a buy rating and a $40.00 price objective for the company. Goldman Sachs Group initiated coverage on shares of Ceridian HCM in a report on Friday, February 1st. They set a neutral rating and a $37.00 price objective for the company. Mitsubishi UFJ Financial Group increased their price objective on shares of Ceridian HCM to $49.00 and gave the company an overweight rating in a report on Thursday, February 7th. Finally, Zacks Investment Research raised shares of Ceridian HCM from a hold rating to a buy rating and set a $52.00 price objective 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 given a buy rating to the company. The company presently has a consensus rating of Hold and a consensus target price of $44.87.

Shares of Ceridian HCM stock opened at $49.70 on Tuesday. The firm has a market capitalization of $7.15 billion and a P/E ratio of -994.00. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.43. Ceridian HCM has a fifty-two week low of $31.39 and a fifty-two week high of $53.71.

Ceridian HCM (NYSE:CDAY) last released its quarterly earnings data on Wednesday, May 1st. The company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.12 by ($0.04). Ceridian HCM had a negative net margin of 6.82% and a positive return on equity of 0.04%. The company had revenue of $203.70 million for the quarter, compared to the consensus estimate of $203.99 million. During the same period last year, the company earned ($0.07) EPS. The firm’s revenue for the quarter was up 7.9% on a year-over-year basis. On average, sell-side analysts forecast that Ceridian HCM will post 0.48 EPS for the current year.

In other news, EVP Lisa M. Sterling sold 11,250 shares of the company’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $49.84, for a total transaction of $560,700.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Arthur Gitajn sold 86,500 shares of the company’s stock in a transaction dated Wednesday, February 20th. The shares were sold at an average price of $47.01, for a total transaction of $4,066,365.00. The disclosure for this sale can be found here. Insiders have sold a total of 14,319,892 shares of company stock worth $701,369,802 over the last 90 days. Corporate insiders own 26.90% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Whale Rock Capital Management LLC raised its position in shares of Ceridian HCM by 15.0% during the 4th quarter. Whale Rock Capital Management LLC now owns 3,927,540 shares of the company’s stock valued at $135,461,000 after buying an additional 512,067 shares in the last quarter. Vanguard Group Inc raised its position in shares of Ceridian HCM by 3.1% during the 3rd quarter. Vanguard Group Inc now owns 2,196,582 shares of the company’s stock valued at $92,323,000 after buying an additional 66,585 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Ceridian HCM by 3.1% during the 3rd quarter. Vanguard Group Inc. now owns 2,196,582 shares of the company’s stock valued at $92,323,000 after buying an additional 66,585 shares in the last quarter. Partners Group Holding AG purchased a new stake in shares of Ceridian HCM during the 4th quarter valued at about $62,981,000. Finally, BlackRock Inc. raised its position in shares of Ceridian HCM by 73.2% during the 4th quarter. BlackRock Inc. now owns 1,537,914 shares of the company’s stock valued at $53,041,000 after buying an additional 649,966 shares in the last quarter. Hedge funds and other institutional investors own 80.12% of the company’s stock.

Ceridian HCM Company Profile

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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Analyst Recommendations for Ceridian HCM (NYSE:CDAY)

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