The share price of Ceridian HCM Holding Inc. (NYSE:CDAY) rose to $65.39 per share on Tuesday from $63.91. While Ceridian HCM Holding Inc. has overperformed by 2.32%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, CDAY fell by -41.36%, with highs and lows ranging from $115.35 to $43.23, whereas the simple moving average jumped by 9.02% in the last 200 days.
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On October 31, 2022, Barclays Upgraded Ceridian HCM Holding Inc. (NYSE: CDAY) to Equal Weight. A report published by Citigroup on September 01, 2022, Initiated its previous ‘Buy’ rating for CDAY. Credit Suisse also rated CDAY shares as ‘Outperform’, setting a target price of $85 on the company’s shares in an initiating report dated March 23, 2022. Wells Fargo resumed its ‘Equal Weight’ rating for CDAY, as published in its report on February 10, 2022. Piper Sandler’s report from February 10, 2022 suggests a price prediction of $85 for CDAY shares, giving the stock a ‘Neutral’ rating. Deutsche Bank also rated the stock as ‘Buy’.
Analysis of Ceridian HCM Holding Inc. (CDAY)
Further, the quarter-over-quarter increase in sales is 22.70%, showing a positive trend in the upcoming months.
To gain a thorough understanding of Ceridian HCM Holding Inc.’s future performance, several well-rounded types of analysis and research techniques can be used, with equity being among the most crucial. The goal here is to ensure that your current return on equity of -3.70% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 1.10, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
It is also very valuable to look at average volume as an indicator of volatility for a stock, and CDAY is recording an average volume of 1.51M. On a monthly basis, the volatility of the stock is set at 5.87%, whereas on a weekly basis, it is put at 4.18%, with a loss of -10.03% over the past seven days. Furthermore, long-term investors anticipate a median target price of $72.00, showing growth from the present price of $65.39, which can serve as yet another indication of whether CDAY is worth investing in or should be passed over.
How Do You Analyze Ceridian HCM Holding Inc. Shares?
The number of employees owning shares of the company should also be considered in addition to the fundamentals. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 0.20%. This can enable you to see the extent to which executives own the company’s stock.
Are institutional investors increasing their holdings in CDAY shares?
The recent increase in stakes in CDAY appears to be a result of several institutional investors and hedge funds increasing their positions. Select Equity Group LP’s position in CDAY has increased by 4.20% in the first quarter. The company now owns 21,500,521 shares of the stock, with a value of $1.42 billion, following the purchase of 866,032 additional shares during the last quarter. T. Rowe Price Associates, Inc. made another decreased to its shares in CDAY during the first quarter, downing its stake by -12.47%. During the last quarter, the company picked up -2,623,513 additional shares for a total stake of worth $1.22 billion, bringing number of shares owned by the company to 18,417,839.
During the first quarter, The Vanguard Group, Inc. added a 614,264 position in CDAY. Capital Research & Management Co sold an additional -2.08 million shares in the last quarter, decreasing its holdings by -11.84%, now holding 15.47 million shares worth $1.02 billion. At the end of the first quarter, Wellington Management Co. LLP increased its CDAY holdings by 11.29% and now holds 10.28 million CDAY shares valued at $680.39 million with the added 1.04 million shares during the period.