Ceridian HCM (NYSE:CDAY) Price Target Increased to $72.00 by Analysts at Goldman Sachs Group
Ceridian HCM (NYSE:CDAY) had its target price lifted by analysts at Goldman Sachs Group from $62.00 to $72.00 in a research report issued to clients and investors on Monday, The Fly reports. Goldman Sachs Group’s price target points to a potential downside of 8.02% from the company’s previous close.
A number of other brokerages have also recently commented on CDAY. Mizuho raised their price objective on Ceridian HCM from $60.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. CIBC assumed coverage on Ceridian HCM in a research note on Thursday, March 5th. They issued an “outperformer” rating and a $84.00 price objective for the company. Wells Fargo & Co dropped their target price on Ceridian HCM from $70.00 to $65.00 and set an “overweight” rating on the stock in a report on Monday, May 4th. BMO Capital Markets raised their target price on Ceridian HCM from $74.00 to $75.00 and gave the company a “market perform” rating in a report on Thursday, May 7th. Finally, Credit Suisse Group raised their target price on Ceridian HCM from $47.00 to $49.00 and gave the company an “underperform” rating in a report on Thursday, May 7th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $66.17.
Shares of Ceridian HCM stock opened at $78.28 on Monday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.08 and a current ratio of 1.08. Ceridian HCM has a 52 week low of $38.40 and a 52 week high of $83.89. The stock has a 50 day moving average price of $71.96 and a two-hundred day moving average price of $65.19. The stock has a market capitalization of $11.59 billion, a PE ratio of 153.49 and a beta of 1.67.
In other Ceridian HCM news, CEO David D. Ossip sold 500,000 shares of the business’s stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $81.00, for a total value of $40,500,000.00. Following the sale, the chief executive officer now directly owns 1,059,873 shares in the company, valued at $85,849,713. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Arthur Gitajn sold 86,500 shares of the business’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $65.51, for a total value of $5,666,615.00. The disclosure for this sale can be found here. Insiders have sold 4,305,461 shares of company stock worth $285,602,275 over the last quarter. 17.60% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Ceridian HCM in the first quarter valued at $33,000. Advisors Preferred LLC bought a new stake in shares of Ceridian HCM in the first quarter valued at $70,000. Advisor Group Holdings Inc. bought a new stake in shares of Ceridian HCM in the first quarter valued at $163,000. Dupont Capital Management Corp raised its stake in shares of Ceridian HCM by 50.8% in the first quarter. Dupont Capital Management Corp now owns 3,711 shares of the company’s stock valued at $186,000 after buying an additional 1,250 shares during the period. Finally, Metropolitan Life Insurance Co NY grew its position in shares of Ceridian HCM by 35.4% in the first quarter. Metropolitan Life Insurance Co NY now owns 3,655 shares of the company’s stock valued at $187,000 after purchasing an additional 955 shares in the last quarter. Hedge funds and other institutional investors own 89.00% of the company’s stock.
About Ceridian HCM
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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