Desjardins Global Asset Management Inc. Boosts Stake in Ceridian HCM Holding Inc. (NYSE:CDAY)

Desjardins Global Asset Management Inc. grew its stake in Ceridian HCM Holding Inc. (NYSE:CDAY) by 68.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 723 shares of the company’s stock after buying an additional 294 shares during the period. Desjardins Global Asset Management Inc.’s holdings in Ceridian HCM were worth $49,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Itau Unibanco Holding S.A. purchased a new position in shares of Ceridian HCM during the third quarter worth $36,000. Advisors Asset Management Inc. purchased a new position in shares of Ceridian HCM during the first quarter worth $41,000. Cary Street Partners Investment Advisory LLC purchased a new position in shares of Ceridian HCM during the third quarter worth $44,000. Sentry Investment Management LLC raised its holdings in shares of Ceridian HCM by 40.5% during the third quarter. Sentry Investment Management LLC now owns 892 shares of the company’s stock worth $61,000 after purchasing an additional 257 shares during the last quarter. Finally, UniSuper Management Pty Ltd purchased a new position in shares of Ceridian HCM during the second quarter worth $67,000.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Robert W. Baird restated an “outperform” rating and set a $86.00 price target on shares of Ceridian HCM in a research report on Friday, January 19th. Stifel Nicolaus assumed coverage on shares of Ceridian HCM in a research report on Wednesday, January 10th. They set a “buy” rating and a $75.00 price target on the stock. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Ceridian HCM has a consensus rating of “Moderate Buy” and an average target price of $76.38.

Ceridian HCM Stock Down 0.6 %

Shares of NYSE CDAY opened at $60.95 on Friday. The company’s 50-day simple moving average is $67.05 and its 200-day simple moving average is $67.63. Ceridian HCM Holding Inc. has a 52-week low of $55.62 and a 52-week high of $79.66. The firm has a market cap of $9.52 billion, a price-to-earnings ratio of 2,031.67, a price-to-earnings-growth ratio of 2.12 and a beta of 1.38. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.53.

Ceridian HCM Profile

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, payroll, benefits, workforce management, and talent management functionality; and Powerpay, a cloud HR and payroll solution for the small business market.