Ceridian HCM’s (NYSE:CDAY) lock-up period is set to expire on Tuesday, October 23rd. Ceridian HCM had issued 21,000,000 shares in its initial public offering on April 26th. The total size of the offering was $462,000,000 based on an initial share price of $22.00. Shares of the company owned by major shareholders and company insiders will be eligible for trade following the end of the lock-up period.
A number of equities research analysts have weighed in on CDAY shares. Deutsche Bank upped their target price on Ceridian HCM from $40.00 to $42.00 and gave the stock a “hold” rating in a research report on Tuesday, October 9th. Canaccord Genuity restated a “hold” rating and issued a $36.00 target price on shares of Ceridian HCM in a research report on Friday, August 10th. Zacks Investment Research downgraded Ceridian HCM from a “hold” rating to a “sell” rating in a research report on Wednesday, October 10th. Credit Suisse Group started coverage on Ceridian HCM in a research report on Friday, October 5th. They issued a “neutral” rating and a $45.00 target price for the company. Finally, Citigroup cut their target price on Ceridian HCM from $38.00 to $35.00 and set a “neutral” rating for the company in a research report on Friday, August 10th. Eight analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $39.86.
CDAY opened at $36.27 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.03 and a quick ratio of 1.03. Ceridian HCM has a 1-year low of $28.65 and a 1-year high of $44.98.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Voya Investment Management LLC bought a new position in shares of Ceridian HCM in the second quarter valued at $247,000. Public Employees Retirement System of Ohio bought a new position in shares of Ceridian HCM in the second quarter valued at $286,000. Point72 Asset Management L.P. bought a new position in shares of Ceridian HCM in the second quarter valued at $332,000. Cubist Systematic Strategies LLC bought a new position in shares of Ceridian HCM in the second quarter valued at $344,000. Finally, Dean Capital Investments Management LLC bought a new position in shares of Ceridian HCM in the second quarter valued at $425,000. 72.15% of the stock is currently owned by institutional investors.
About Ceridian HCM
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.
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