Ceridian HCM’s (NYSE:CDAY) lock-up period will expire on Tuesday, October 23rd. Ceridian HCM had issued 21,000,000 shares in its 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 expiration of the lock-up period.
Several brokerages have recently weighed in on CDAY. Deutsche Bank upped their price objective on Ceridian HCM from $40.00 to $42.00 and gave the company a “hold” rating in a report on Tuesday, October 9th. Zacks Investment Research lowered Ceridian HCM from a “hold” rating to a “sell” rating in a report on Wednesday, October 10th. Canaccord Genuity restated a “hold” rating and issued a $36.00 price objective on shares of Ceridian HCM in a report on Friday, August 10th. Credit Suisse Group began coverage on Ceridian HCM in a report on Friday, October 5th. They issued a “neutral” rating and a $45.00 price objective for the company. Finally, Citigroup cut their price objective on Ceridian HCM from $38.00 to $35.00 and set a “neutral” rating for the company in a report on Friday, August 10th. Eight investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $39.86.
Shares of NYSE CDAY opened at $37.62 on Thursday. Ceridian HCM has a 12 month low of $28.65 and a 12 month high of $44.98. 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 (NYSE:CDAY) last announced its earnings results on Wednesday, August 8th. The company reported ($0.15) EPS for the quarter, beating the consensus estimate of ($0.20) by $0.05. The company had revenue of $179.30 million for the quarter, compared to analysts’ expectations of $174.47 million. As a group, research analysts expect that Ceridian HCM will post -0.25 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently made changes to their positions in CDAY. Lee Thomas H Partners LP purchased a new stake in shares of Ceridian HCM during the second quarter valued at $2,306,874,000. Whale Rock Capital Management LLC purchased a new stake in shares of Ceridian HCM during the second quarter valued at $48,340,000. Fidelity National Financial Inc. purchased a new stake in shares of Ceridian HCM during the second quarter valued at $33,190,000. BlackRock Inc. purchased a new stake in shares of Ceridian HCM during the second quarter valued at $28,814,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Ceridian HCM during the second quarter valued at $27,807,000. 72.15% of the stock is owned by institutional investors and hedge funds.
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.
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