Fernwood Investment Management LLC lowered its position in shares of Ceridian HCM Holding Inc (NYSE:CDAY) by 6.2% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 47,940 shares of the company’s stock after selling 3,185 shares during the quarter. Ceridian HCM makes up approximately 1.3% of Fernwood Investment Management LLC’s holdings, making the stock its 20th biggest holding. Fernwood Investment Management LLC’s holdings in Ceridian HCM were worth $2,407,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. TD Asset Management Inc. lifted its stake in Ceridian HCM by 39.5% in the second quarter. TD Asset Management Inc. now owns 230,081 shares of the company’s stock valued at $11,526,000 after buying an additional 65,139 shares in the last quarter. Public Employees Retirement Association of Colorado bought a new position in Ceridian HCM in the second quarter valued at approximately $309,000. Aperio Group LLC bought a new position in Ceridian HCM in the second quarter valued at approximately $25,000. BNP Paribas Arbitrage SA lifted its stake in Ceridian HCM by 34.3% in the second quarter. BNP Paribas Arbitrage SA now owns 3,738 shares of the company’s stock valued at $188,000 after buying an additional 955 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Ceridian HCM by 32.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,308 shares of the company’s stock valued at $116,000 after buying an additional 568 shares in the last quarter. Institutional investors and hedge funds own 74.04% of the company’s stock.
A number of brokerages have weighed in on CDAY. Canaccord Genuity set a $55.00 price target on shares of Ceridian HCM and gave the company a “hold” rating in a research note on Wednesday, July 31st. Jefferies Financial Group lifted their price target on shares of Ceridian HCM from $52.00 to $58.00 and gave the company a “hold” rating in a research note on Wednesday, July 31st. Needham & Company LLC lifted their price target on shares of Ceridian HCM to $60.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. Barclays set a $50.00 price objective on shares of Ceridian HCM and gave the company a “hold” rating in a report on Wednesday, July 31st. Finally, Zacks Investment Research upgraded shares of Ceridian HCM from a “strong sell” rating to a “hold” rating in a report on Thursday, June 6th. Eight equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Ceridian HCM currently has a consensus rating of “Hold” and an average target price of $53.08.
In related news, Chairman David D. Ossip sold 500,000 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $49.27, for a total transaction of $24,635,000.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Lisa M. Sterling sold 6,250 shares of the business’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $49.30, for a total transaction of $308,125.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 12,287,662 shares of company stock worth $608,080,296. 26.90% of the stock is owned by corporate insiders.
Shares of NYSE CDAY traded up $0.37 during midday trading on Thursday, reaching $50.79. The company’s stock had a trading volume of 8,892 shares, compared to its average volume of 995,343. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.06 and a quick ratio of 1.06. Ceridian HCM Holding Inc has a fifty-two week low of $31.39 and a fifty-two week high of $56.10. The company has a market cap of $7.49 billion, a PE ratio of -1,018.30 and a beta of 1.59. The stock has a 50 day simple moving average of $51.00.
Ceridian HCM (NYSE:CDAY) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $0.12 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.07 by $0.05. The company had revenue of $196.30 million for the quarter, compared to the consensus estimate of $192.29 million. Ceridian HCM had a net margin of 4.19% and a return on equity of 2.34%. The firm’s revenue was up 9.7% compared to the same quarter last year. During the same period last year, the company earned ($0.44) earnings per share. On average, research analysts predict that Ceridian HCM Holding Inc will post 0.49 EPS for the current fiscal year.
Ceridian HCM Profile
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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