BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Decreases Stake in Ceridian HCM Holding Inc. (NYSE:CDAY)

Posted by Defense World Staff on Jun 4th, 2023

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp reduced its position in Ceridian HCM Holding Inc. (NYSE:CDAY – Get Rating) by 9.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,094 shares of the company’s stock after selling 1,309 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Ceridian HCM were worth $776,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Lazard Asset Management LLC purchased a new position in Ceridian HCM in the 3rd quarter valued at about $25,000. Belpointe Asset Management LLC acquired a new stake in shares of Ceridian HCM in the 4th quarter valued at about $35,000. Advisors Asset Management Inc. acquired a new stake in shares of Ceridian HCM in the 1st quarter valued at about $41,000. Parallel Advisors LLC raised its stake in shares of Ceridian HCM by 55.6% in the 4th quarter. Parallel Advisors LLC now owns 896 shares of the company’s stock valued at $57,000 after purchasing an additional 320 shares in the last quarter. Finally, Sentry Investment Management LLC raised its stake in shares of Ceridian HCM by 15.3% in the 4th quarter. Sentry Investment Management LLC now owns 1,019 shares of the company’s stock valued at $65,000 after purchasing an additional 135 shares in the last quarter.

Ceridian HCM Price Performance

Shares of NYSE:CDAY opened at $64.91 on Friday. Ceridian HCM Holding Inc. has a 52 week low of $43.23 and a 52 week high of $79.66. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $9.94 billion, a P/E ratio of -270.46 and a beta of 1.44. The firm’s 50 day moving average is $64.50 and its two-hundred day moving average is $67.36.

Ceridian HCM (NYSE:CDAY – Get Rating) last posted its quarterly earnings data on Wednesday, May 3rd. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.05). Ceridian HCM had a negative net margin of 2.73% and a negative return on equity of 0.02%. The company had revenue of $370.60 million for the quarter, compared to analyst estimates of $360.77 million. Analysts anticipate that Ceridian HCM Holding Inc. will post 0.35 earnings per share for the current year.

Analysts Set New Price Targets

CDAY has been the topic of a number of recent analyst reports. Barclays cut their target price on shares of Ceridian HCM from $74.00 to $73.00 in a research note on Thursday, May 4th. Cowen increased their price objective on shares of Ceridian HCM from $77.00 to $87.00 and gave the stock an “outperform” rating in a research note on Thursday, February 9th. Piper Sandler increased their price objective on shares of Ceridian HCM from $60.00 to $78.00 and gave the stock a “neutral” rating in a research note on Thursday, February 9th. Wells Fargo & Company dropped their price objective on shares of Ceridian HCM from $75.00 to $65.00 in a research note on Thursday, May 4th. Finally, Credit Suisse Group dropped their price objective on shares of Ceridian HCM from $105.00 to $83.00 in a research note on Thursday, May 4th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $78.79.

Insider Activity at Ceridian HCM

In related news, insider Jeffrey Scott Jacobs sold 510 shares of the firm’s stock in a transaction that occurred on Thursday, March 9th. The shares were sold at an average price of $71.69, for a total transaction of $36,561.90. Following the transaction, the insider now owns 18,476 shares in the company, valued at $1,324,544.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Ceridian HCM news, insider Jeffrey Scott Jacobs sold 510 shares of Ceridian HCM stock in a transaction that occurred on Thursday, March 9th. The shares were sold at an average price of $71.69, for a total value of $36,561.90. Following the transaction, the insider now owns 18,476 shares in the company, valued at $1,324,544.44. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, COO Christopher R. Armstrong sold 1,772 shares of Ceridian HCM stock in a transaction that occurred on Tuesday, May 9th. The stock was sold at an average price of $57.82, for a total transaction of $102,457.04. Following the completion of the transaction, the chief operating officer now owns 123,797 shares in the company, valued at approximately $7,157,942.54. The disclosure for this sale can be found here. Insiders have sold 21,999 shares of company stock worth $1,537,792 over the last quarter. 4.50% of the stock is currently owned by company insiders.

About Ceridian HCM

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Ceridian HCM Holding, Inc engages in the development of human capital management software. It offers Dayforce, Powerpay, and Bureau products and services. The Dayforce provides human resources (HR), payroll, benefits, workforce management, and talent management functionality. Powerpay is a cloud HR and payroll solution for the Canadian small business market, through both direct sales and established partner channels.