Ratan Capital Management LP cut its stake in shares of Ceridian HCM Holding Inc. (NYSE:CDAY – Get Rating) by 53.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 32,620 shares of the company's stock after selling 37,229 shares during the period. Ceridian HCM accounts for approximately 1.5% of Ratan Capital Management LP's portfolio, making the stock its 16th largest holding. Ratan Capital Management LP's holdings in Ceridian HCM were worth $2,230,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Daiwa Securities Group Inc. increased its position in shares of Ceridian HCM by 2.3% in the first quarter. Daiwa Securities Group Inc. now owns 20,341 shares of the company's stock worth $1,391,000 after purchasing an additional 459 shares during the last quarter. Pacer Advisors Inc. lifted its stake in Ceridian HCM by 785.7% in the first quarter. Pacer Advisors Inc. now owns 99,820 shares of the company's stock worth $6,824,000 after acquiring an additional 88,550 shares during the period. Qube Research & Technologies Ltd purchased a new stake in Ceridian HCM in the fourth quarter worth $520,000. Meeder Asset Management Inc. purchased a new stake in Ceridian HCM in the first quarter worth $270,000. Finally, Calton & Associates Inc. purchased a new stake in Ceridian HCM in the first quarter worth $311,000.
Get Ceridian HCM alerts:Wall Street Analyst Weigh In
A number of analysts recently commented on CDAY shares. Barclays dropped their price target on Ceridian HCM from $59.00 to $52.00 and set an "underweight" rating for the company in a research note on Monday, July 18th. Credit Suisse Group raised their price target on Ceridian HCM from $70.00 to $75.00 and gave the stock an "outperform" rating in a research note on Thursday, August 4th. Piper Sandler raised their price objective on Ceridian HCM from $48.00 to $60.00 and gave the company a "neutral" rating in a research report on Thursday, August 4th. Deutsche Bank Aktiengesellschaft lowered their price objective on Ceridian HCM from $85.00 to $80.00 in a research report on Thursday, August 4th. Finally, Jefferies Financial Group lowered their price objective on Ceridian HCM from $65.00 to $56.00 in a research report on Monday, May 23rd. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $75.08.
Insider Buying and Selling
In related news, EVP Joseph B. Korngiebel sold 11,418 shares of Ceridian HCM stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $63.27, for a total value of $722,416.86. Following the completion of the sale, the executive vice president now directly owns 99,603 shares in the company, valued at approximately $6,301,881.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 3.90% of the stock is owned by corporate insiders.Ceridian HCM Stock Down 3.6 %
Shares of NYSE:CDAY traded down $2.28 on Tuesday, hitting $61.46. 4,413 shares of the company traded hands, compared to its average volume of 867,338. Ceridian HCM Holding Inc. has a 52 week low of $43.23 and a 52 week high of $130.37. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.58. The stock has a 50 day simple moving average of $58.79 and a 200-day simple moving average of $58.59. The company has a market cap of $9.41 billion, a PE ratio of -124.98 and a beta of 1.49.
Ceridian HCM (NYSE:CDAY – Get Rating) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.02. Ceridian HCM had a negative return on equity of 2.68% and a negative net margin of 6.84%. The firm had revenue of $301.20 million during the quarter, compared to the consensus estimate of $294.40 million. As a group, research analysts expect that Ceridian HCM Holding Inc. will post -0.14 earnings per share for the current year.
Ceridian HCM Profile
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Ceridian HCM Holding Inc, together with its subsidiaries, operates as a human capital management (HCM) software company in the United States, Canada, and internationally. It offers Dayforce, a cloud HCM platform that provides human resources (HR), payroll, benefits, workforce management, and talent management functionality; and Powerpay, a cloud HR and payroll solution for the small business market.
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