Monday, September 21, 2020

CIBC lifts Ceridian HCM Holding Inc. [CDAY] price estimate. Who else is bullish?

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Ceridian HCM Holding Inc. [NYSE: CDAY] gained 5.28% or 3.84 points to close at $76.50 with a heavy trading volume of 2418832 shares. The company report on August 26, 2020 that Ceridian Announces Pricing of Secondary Public Offering.

Ceridian HCM Holding Inc. (“Ceridian” or the “Company”) (NYSE:CDAY) (TSX:CDAY), a global human capital management software company, announced today the pricing of an underwritten secondary public offering by affiliates of Thomas H. Lee Partners, L.P. and David D. Ossip, Chairman and Chief Executive Officer of the Company (the “Selling Stockholders”), of 7,217,347 and 500,000 shares of the Company’s common stock, par value $0.01 per share (the “Common Stock”), respectively, pursuant to a shelf registration statement filed with the Securities and Exchange Commission (the “SEC”). The shares will be offered from time to time for sale in one or more transactions on the New York Stock Exchange, in the over-the-counter market, through negotiated transactions or otherwise at market prices prevailing at the time of sale, at prices related to prevailing market prices or at negotiated prices, subject to its right to reject any order in whole or in part. Prior to the exercise, the 500,000 shares of Common Stock exercised by David Ossip made up 5.3% of his direct and indirect holdings of Common Stock, exchangeable shares, and vested and unvested stock options and restricted stock units. Proceeding the exercise, David Ossip holds 8,862,884 shares of Common Stock, exchangeable shares, and vested and unvested stock options and restricted stock units, or 6.0% of the Company’s Common Stock outstanding as of August 21, 2020.

The offering consists entirely of secondary shares to be sold by the Selling Stockholders. The Selling Stockholders will receive all of the proceeds from the offering. The offering is expected to close on August 28, 2020, subject to customary closing conditions.

It opened the trading session at $70.10, the shares rose to $77.915 and dropped to $70.00, the range by which the price of stock traded the whole day. The daily chart for CDAY points out that the company has recorded 21.76% gains over the past six months. However, it is still -99.22% lower than its most recent low trading price.

If we look at the average trading volume of 1.62M shares, CDAY reached to a volume of 2418832 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Ceridian HCM Holding Inc. [CDAY]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CDAY shares is $84.29 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CDAY stock is a recommendation set at 2.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

CIBC have made an estimate for Ceridian HCM Holding Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on August 06, 2020. While these analysts kept the previous recommendation, Piper Sandler raised their target price to Neutral. The new note on the price target was released on May 22, 2020, representing the official price target for Ceridian HCM Holding Inc. stock. Previously, the target price had yet another raise to $45, while JP Morgan analysts kept a Underweight rating on CDAY stock. On April 23, 2020, analysts decreased their price target for CDAY shares from 63 to 47.

The Average True Range (ATR) for Ceridian HCM Holding Inc. is set at 4.06, with the Price to Sales ratio for CDAY stock in the period of the last 12 months amounting to 13.63. The Price to Book ratio for the last quarter was 5.61, with the Price to Cash per share for the same quarter was set at 3.52. Price to Free Cash Flow for CDAY in the course of the last twelve months was 249.89 with Quick ratio for the last quarter at 1.20.

Trading performance analysis for CDAY stock

Ceridian HCM Holding Inc. [CDAY] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.80. With this latest performance, CDAY shares gained by 8.65% in over the last four-week period, additionally plugging by 21.76% over the last 6 months – not to mention a rise of 45.16% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CDAY stock in for the last two-week period is set at 48.71, with the RSI for the last a single of trading hit 49.38, and the three-weeks RSI is set at 49.81 for Ceridian HCM Holding Inc. [CDAY]. The present Moving Average for the last 50 days of trading for this stock 78.42, while it was recorded at 77.93 for the last single week of trading, and 68.07 for the last 200 days.

Ceridian HCM Holding Inc. [CDAY]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Ceridian HCM Holding Inc. [CDAY] shares currently have an operating margin of +9.53 and a Gross Margin at +50.73. Ceridian HCM Holding Inc.’s Net Margin is presently recorded at +9.55.

Return on Total Capital for CDAY is now 3.27, given the latest momentum, and Return on Invested Capital for the company is 3.30. Return on Equity for this stock inclined to 4.61, with Return on Assets sitting at 1.40. When it comes to the capital structure of this company, Ceridian HCM Holding Inc. [CDAY] has a Total Debt to Total Equity ratio set at 38.04. Additionally, CDAY Total Debt to Total Capital is recorded at 27.56, with Total Debt to Total Assets ending up at 11.77. Long-Term Debt to Equity for the company is recorded at 37.00, with the Long-Term Debt to Total Capital now at 26.80.

Reflecting on the efficiency of the workforce at the company, Ceridian HCM Holding Inc. [CDAY] managed to generate an average of $15,705 per employee. Receivables Turnover for the company is 8.77 with a Total Asset Turnover recorded at a value of 0.15.Ceridian HCM Holding Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.20 and a Current Ratio set at 1.20.

Ceridian HCM Holding Inc. [CDAY]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Ceridian HCM Holding Inc. posted 0.11/share EPS, while the average EPS was predicted by analysts to be reported at 0.1/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 10.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CDAY. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Ceridian HCM Holding Inc. go to 18.94%.

An analysis of insider ownership at Ceridian HCM Holding Inc. [CDAY]

There are presently around $11,810 million, or 89.51% of CDAY stock, in the hands of institutional investors. The top three institutional holders of CDAY stocks are: PRICE T ROWE ASSOCIATES INC /MD/ with ownership of 20,925,449, which is approximately -2.991% of the company’s market cap and around 0.60% of the total institutional ownership; CAPITAL RESEARCH GLOBAL INVESTORS, holding 17,700,517 shares of the stock with an approximate value of $1.35 billion in CDAY stocks shares; and CANNAE HOLDINGS, INC., currently with $1.23 billion in CDAY stock with ownership of nearly -18.65% of the company’s market capitalization.

Positions in Ceridian HCM Holding Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 141 institutional holders increased their position in Ceridian HCM Holding Inc. [NYSE:CDAY] by around 14,546,340 shares. Additionally, 96 investors decreased positions by around 15,607,028 shares, while 21 investors held positions by with 124,222,891 shares. The mentioned changes placed institutional holdings at 154,376,259 shares, according to the latest SEC report filing. CDAY stock had 49 new institutional investments in for a total of 2,423,755 shares, while 25 institutional investors sold positions of 924,777 shares during the same period.

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