Ceridian HCM (CDAY) Upgraded to “Buy” by Zacks Investment Research

Zacks Investment Research upgraded shares of Ceridian HCM (NYSE:CDAY) from a hold rating to a buy rating in a report published on Monday. The brokerage currently has $41.00 target price on the stock.

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. “

Several other research firms have also recently issued reports on CDAY. Deutsche Bank upped their price target on shares of Ceridian HCM from $40.00 to $42.00 and gave the company a hold rating in a report on Tuesday, October 9th. Guggenheim started coverage on shares of Ceridian HCM in a report on Monday, August 20th. They issued a buy rating and a $45.00 price target on the stock. William Blair raised shares of Ceridian HCM from a market perform rating to an outperform rating in a report on Friday, August 10th. Citigroup cut their price target on shares of Ceridian HCM from $38.00 to $35.00 and set a neutral rating on the stock in a report on Friday, August 10th. Finally, Barclays upped their price target on shares of Ceridian HCM from $35.00 to $36.00 and gave the company an equal weight rating in a report on Friday, September 7th. Eight analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Ceridian HCM presently has a consensus rating of Hold and a consensus price target of $39.86.

CDAY opened at $36.26 on Monday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.03 and a current ratio of 1.03. Ceridian HCM has a 12-month low of $28.65 and a 12-month high of $44.98.

Ceridian HCM (NYSE:CDAY) last posted its quarterly earnings results on Wednesday, August 8th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.20) by $0.05. The company had revenue of $179.30 million during the quarter, compared to analyst estimates of $174.47 million. On average, analysts predict that Ceridian HCM will post -0.25 earnings per share for the current fiscal year.

Hedge funds have recently added to or reduced their stakes in the business. JS Capital Management LLC bought a new stake in Ceridian HCM during the second quarter valued at $6,638,000. Waddell & Reed Financial Inc. bought a new stake in Ceridian HCM during the second quarter valued at $20,880,000. Mackay Shields LLC bought a new stake in Ceridian HCM during the second quarter valued at $1,286,000. K2 Principal Fund L.P. bought a new stake in Ceridian HCM during the second quarter valued at $2,906,000. Finally, Citadel Advisors LLC bought a new stake in Ceridian HCM during the second quarter valued at $22,617,000. Hedge funds and other institutional investors own 72.15% of the company’s stock.

Ceridian HCM Company Profile

Ceridian HCM Holding Inc operates as a human capital management (HCM) software company worldwide. The company offers Dayforce, a cloud HCM platform that address various areas of HCM, including human resources (HR), payroll, benefits, workforce management, and talent management functionality. It also provides Powerpay, a cloud platform, which offers scalable and straightforward payroll and HR solutions; Bureau solutions for payroll and payroll-related services; and LifeWorks, an employee engagement platform that delivers employee assistance programs, social recognition, perks and discounts, a private social network, employee and corporate wellness programs, and employee engagement analytics.

Recommended Story: What are the Different Types of Leveraged Buyouts?

Get a free copy of the Zacks research report on Ceridian HCM (CDAY)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Ceridian HCM (NYSE:CDAY)

Receive News & Ratings for Ceridian HCM Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ceridian HCM and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply