On October 9th, 2023, Ceridian HCM Holding Inc. CEO Leagh Erin Turner sold 6,000 shares of the company’s stock at an average price of $70.99. The total value of the transaction amounted to $425,940. Following this sale, Turner now directly owns 245,201 shares in the company, with an estimated value of approximately $17,406,818.99. The disclosure of this transaction was made through a legal filing with the Securities & Exchange Commission (SEC).
Ceridian HCM is a prominent global human capital management technology company listed on the New York Stock Exchange under the ticker symbol CDAY. They provide innovative solutions and expertise in areas such as payroll processing, benefits administration, and workforce management.
In their most recent quarterly earnings report released on August 2nd, 2023, Ceridian HCM reported earnings per share (EPS) of $0.06 for the quarter. This figure fell short of the consensus estimate by ($0.01), as analysts had expected an EPS of $0.07. Despite this slight miss, Ceridian HCM showcased a positive return on equity of 0.67% and a negative net margin of 0.95%. The company’s revenue for the quarter stood at $365.90 million compared to analysts’ expectations of $358.05 million.
Market analysts have predicted that Ceridian HCM Holding Inc.’s EPS for the current fiscal year will amount to 0.39.
Notable changes have occurred in institutional investors’ positions regarding CDAY as well. Price T Rowe Associates Inc., MD increased its position in Ceridian HCM by approximately 17.8% during the fourth quarter after purchasing an additional 3,273,796 shares during that period.
Similarly, Vanguard Group Inc., another prominent institutional investor, augmented its stake in Ceridian HCM by around 0.8% during the first quarter by acquiring an additional 115,168 shares.
Capital International Investors notably raised its holdings in the company by 29.8% during the second quarter, purchasing an additional 2,632,753 shares. Capital World Investors also increased its stake in Ceridian HCM by 5.5% during the same period after acquiring an additional 300,199 shares.
Lastly, Artisan Partners Limited Partnership augmented its position in Ceridian HCM by approximately 14.7% during the second quarter with the addition of an extra 460,989 shares.
These changes in institutional investors’ positions reflect confidence in Ceridian HCM as they continue to operate within the competitive human capital management industry. Shareholders and market analysts will closely monitor such developments as they indicate investor sentiment and can potentially influence market trends moving forward.
Analysis of Ceridian HCM (CDAY) Stock and Analyst Ratings
On October 12, 2023, Leagh Erin Turner engaged in recent trading activities involving CDAY stock. The shares of CDAY experienced a modest increase of $0.76 during mid-day trading on Wednesday, reaching a value of $75.11. The volume of shares traded reached 763,817, which is relatively lower than the average trading volume of 1,273,267 for the company.
Ceridian HCM Holding Inc., the company behind CDAY stock, possesses a quick ratio and current ratio of 1.10 each, indicating its ability to meet short-term financial obligations efficiently. Furthermore, it has maintained a debt-to-equity ratio of 0.54. As of now, Ceridian HCM has a market capitalization amounting to approximately $11.69 billion.
Analyzing the valuation measures, we find that Ceridian HCM currently portrays an intriguing price-to-earnings (PE) ratio of -834.46 and a price-to-earnings-growth (PEG) ratio of 4.51. Both these ratios hint at the need for further exploration into the financial fundamentals supporting such valuation metrics.
The market behavior of Ceridian HCM is also worth examining closely. The company exhibits a beta value of 1.42, implying relative volatility compared to the overall market index.
When observing long-term trends in stock prices using moving averages as indicators, we find that the company’s 50-day simple moving average stands at $71.08 while its 200-day simple moving average rests at $67.62.
In terms of historical performance, Ceridian HCM has witnessed fluctuations in its share prices over the past year with a low point recorded at $51.52 and a high point marked at $79.66.
Various analysts have weighed in on CDAY stock with their reports and forecasts regarding its performance and potential future trajectory in the market.
Needham & Company LLC recently upgraded their rating on Ceridian HCM from “hold” to “buy,” setting a price target of $82.00 for the stock. TD Cowen, on the other hand, downgraded Ceridian HCM from an “outperform” rating to a “market perform” rating but raised their target price for the company from $69.00 to $71.00.
Piper Sandler analysts increased their price target for Ceridian HCM from $70.00 to $73.00 and assigned a “neutral” rating to the stock in their research report. Likewise, Citigroup adjusted their price target upward from $74.00 to $84.00, giving the stock a “buy” rating.
Another analyst group, Barclays, raised its target price for shares of Ceridian HCM from $73.00 to $74.00 and assigned an “equal weight” rating in their report.
In terms of overall consensus among analysts, data obtained from Bloomberg.com suggests that Ceridian HCM currently holds a rating of “Moderate Buy.” Consequently, an average target price of $79.25 has been projected for CDAY shares based on this collective analysis.
For more comprehensive insights into the stock performance of CDAY and its implications within the market context, interested individuals can refer to our latest stock analysis on CDAY.
Disclaimer: The aforementioned information is provided for informational purposes only and should not be considered as financial advice or guidance in any form. Individuals are advised to conduct thorough research and consult with professional financial advisors before making any investment decisions based on these findings.