On September 10, 2023, it was reported that Mirova had acquired a new stake in Ceridian HCM Holding Inc. (NYSE: CDAY) during the first quarter of the year. This information was disclosed in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased a total of 1,681 shares of the company’s stock, which were valued at approximately $123,000.
Ceridian HCM is a well-known provider of human capital management (HCM) solutions, offering a range of services to help businesses streamline their HR processes and improve workforce management. The company’s offerings include payroll, benefits administration, talent management, and workforce analytics.
In its latest earnings report released on August 2nd, Ceridian HCM announced earnings per share (EPS) of $0.06 for the quarter. This figure fell short of the consensus estimate by ($0.01). The company generated revenue of $365.90 million during this period, surpassing the consensus estimate of $358.05 million.
Despite falling slightly below expectations in terms of EPS, Ceridian HCM demonstrated a positive return on equity of 0.67%, indicating efficient utilization of shareholders’ investments. However, it experienced a negative net margin of 0.95%, suggesting that its profitability was affected by various factors during the quarter.
Market analysts have projected that Ceridian HCM Holding Inc. will achieve an EPS of 0.39 for the current year as a whole. This forecast takes into account various market trends and factors that may impact the company’s performance moving forward.
Mirova’s decision to acquire additional shares in Ceridian HCM reflects investor confidence in the potential growth opportunities presented by this industry leader. By increasing its stake in the company, Mirova has showcased its belief in Ceridian HCM’s ability to navigate challenges and capitalize on emerging trends within the HCM market.
As of the referenced date, September 10, 2023, this investment by Mirova serves as a notable event in the financial landscape. Observing the performance and developments of Ceridian HCM Holding Inc. will be of interest to industry experts and investors alike, as it may provide insights into the future trajectory of the company and the broader HCM sector at large.
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Ceridian HCM Holding Inc. Gains Attention from Large Investors as Analysts Assess Potential Growth
[stock_market_widget type=”chart” template=”basic” color=”#3946CE” assets=”TGT” range=”1mo” interval=”1d” axes=”true” cursor=”true” range_selector=”true” api=”yf”]September 10, 2023 – Ceridian HCM Holding Inc. (CDAY) has been making waves in the investment world recently, catching the attention of several large investors. Price T Rowe Associates Inc. MD, for instance, increased its position in CDAY by a staggering 17.8% during the fourth quarter. This move saw the company acquire an additional 3,273,796 shares, bringing their total holdings to an impressive 21,691,635 shares worth $1.39 billion.
Vanguard Group Inc., another prominent investor, also strengthened its position in CDAY during the first quarter. They acquired an additional 115,168 shares bringing their total ownership to 15,174,664 shares valued at $1.04 billion. Capital International Investors also entered the CDAY market during the same period with a new position worth approximately $366 million.
Artisan Partners Limited Partnership increased its holdings by an astounding 43.1% in the first quarter as well. Their acquisition of an additional 946,179 shares resulted in a total share ownership of 3,142,370 valued at $230 million. Furthermore Geode Capital Management LLC raised its stake by 4.4% during the fourth quarter resulting in them owning a total of 3,105,150 shares worth around $198 million.
These significant investments made by reputable financial institutions reflect their confidence and belief in Ceridian HCM’s potential for growth and success in the market.
Unquestionably contributing to this growing investor interest are several positive analyst reports on CDAY’s performance and potential outlook within the industry landscape. Piper Sandler raised their target price from $70 to $73 and maintained a “neutral” rating on August 3rd while TD Cowen shifted their rating from “outperform” to “market perform,” raising its price objective from $69 to $71 on July 13th.
Barclays raised their price objective from $73 to $74 on August 3rd while Citigroup went even further, raising their price target from $74 to $84 on July 21st and giving the company a “buy” rating. With six hold ratings and seven buy ratings given by analysts, Ceridian HCM has an average rating of “Moderate Buy” according to data from Bloomberg.
In other news, some insiders at Ceridian HCM have been selling their shares. EVP William Everett Mcdonald and EVP Joseph B. Korngiebel each sold portions of their stock holdings worth millions of dollars. These sales were disclosed in filings with the Securities and Exchange Commission (SEC). Notably, insiders have collectively sold a total of 50,873 shares worth approximately $3.49 million in the past three months.
Currently trading at $73.11 per share, CDAY’s performance has been relatively stable recently. The company’s fifty-day simple moving average stands at $70.47, while its 200-day simple moving average is slightly higher at $67.82.
Ceridian HCM Holding Inc., with a market capitalization of $11.24 billion, operates within a P/E ratio of -812.24 and boasts a price-to-earnings-growth ratio of 4.51 alongside a beta of 1.42 – all figures that contribute to the mystique surrounding this unique investment opportunity.
As CDAY continues to captivate investors’ attention, it will be interesting to see how these recent developments impact its future growth and prospects within the industry.
Disclaimer: This article is for informational purposes only and should not be regarded as financial advice or recommendations to investit in any securities mentioned herein
