Ceridian HCM (NYSE:CDAY) Sees Large Volume Increase

Shares of Ceridian HCM Holding Inc (NYSE:CDAY) saw strong trading volume on Monday . 1,066,911 shares traded hands during mid-day trading, an increase of 10% from the previous session’s volume of 973,106 shares.The stock last traded at $60.37 and had previously closed at $60.36.

A number of research analysts recently commented on CDAY shares. Cantor Fitzgerald assumed coverage on Ceridian HCM in a research note on Wednesday, September 11th. They issued an “overweight” rating and a $65.00 target price on the stock. Zacks Investment Research downgraded shares of Ceridian HCM from a “buy” rating to a “hold” rating in a research report on Monday, October 21st. ValuEngine cut shares of Ceridian HCM from a “buy” rating to a “hold” rating in a research note on Wednesday, September 4th. Jefferies Financial Group upgraded shares of Ceridian HCM from a “hold” rating to a “buy” rating and lifted their target price for the company from $58.00 to $65.00 in a research note on Monday, August 19th. Finally, TheStreet upgraded shares of Ceridian HCM from a “d+” rating to a “c-” rating in a report on Wednesday, November 20th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Ceridian HCM currently has an average rating of “Buy” and a consensus target price of $57.15.

The firm’s 50-day moving average price is $51.58 and its two-hundred day moving average price is $51.47. The stock has a market cap of $8.69 billion, a PE ratio of -1,207.40 and a beta of 1.57. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.37.

Ceridian HCM (NYSE:CDAY) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.04. Ceridian HCM had a net margin of 11.34% and a return on equity of 2.24%. The firm had revenue of $202.30 million during the quarter, compared to analysts’ expectations of $196.52 million. During the same quarter in the prior year, the company earned $0.10 EPS. The company’s revenue was up 13.6% compared to the same quarter last year. On average, analysts anticipate that Ceridian HCM Holding Inc will post 0.3 earnings per share for the current year.

In related news, EVP Lisa M. Sterling sold 6,250 shares of the stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $52.01, for a total transaction of $325,062.50. Also, Director Cannae Holdings, Inc. sold 5,000,000 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $53.08, for a total transaction of $265,400,000.00. The disclosure for this sale can be found here. Insiders sold a total of 12,006,250 shares of company stock valued at $657,725,063 in the last ninety days. Corporate insiders own 26.90% of the company’s stock.

A number of large investors have recently bought and sold shares of CDAY. Price T Rowe Associates Inc. MD lifted its position in Ceridian HCM by 31.4% during the second quarter. Price T Rowe Associates Inc. MD now owns 13,864,672 shares of the company’s stock valued at $696,007,000 after acquiring an additional 3,312,089 shares during the last quarter. Select Equity Group L.P. increased its stake in Ceridian HCM by 32.4% during the 3rd quarter. Select Equity Group L.P. now owns 8,434,199 shares of the company’s stock valued at $416,396,000 after purchasing an additional 2,064,472 shares in the last quarter. Vanguard Group Inc. increased its stake in Ceridian HCM by 30.9% during the 2nd quarter. Vanguard Group Inc. now owns 6,487,533 shares of the company’s stock valued at $325,674,000 after purchasing an additional 1,531,004 shares in the last quarter. BlackRock Inc. increased its stake in Ceridian HCM by 28.6% during the 2nd quarter. BlackRock Inc. now owns 2,913,790 shares of the company’s stock valued at $146,271,000 after purchasing an additional 647,177 shares in the last quarter. Finally, Echo Street Capital Management LLC increased its stake in Ceridian HCM by 219.8% during the 2nd quarter. Echo Street Capital Management LLC now owns 644,375 shares of the company’s stock valued at $32,348,000 after purchasing an additional 442,859 shares in the last quarter. 82.99% of the stock is owned by institutional investors.

Ceridian HCM Company Profile (NYSE:CDAY)

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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