In a report released today, Richard Davis from Canaccord Genuity maintained a Hold rating on Ceridian HCM Holding Inc (NYSE: CDAY), with a price target of $36. The company’s shares opened today at $35.68.
Davis said:
“If it seems like we’re using copy and paste for the majority of our recent IPOs, you’re largely correct. Lead banks deliver IPO pops to their favorite clients and more often than not, momentum money managers chase these thinly traded names to expensive levels. As we said quite explicitly in our deep-dive launch piece, Ceridian has built some very good technology with Dayforce and this alone makes the company worthy of investor attention.”
According to TipRanks.com, Davis is a top 25 analyst with an average return of 34.4% and a 76.4% success rate. Davis covers the Technology sector, focusing on stocks such as Altair Engineering Inc, Upland Software, and Salesforce.com.
Ceridian HCM Holding Inc has an analyst consensus of Hold, with a price target consensus of $38.80.
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Based on Ceridian HCM Holding Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $65.5 million. In comparison, last year the company had a GAAP net loss of $20.1 million.
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Ceridian HCM Holding, Inc. engages in the provision of human capital management services. It operates through Human Capital Management (HCM), and LifeWorks segments. The Human Capital Management segment includes cloud solutions, dayforce and powerplay, as well as bureau HCM solutions. The LifeWorks segment reflects the results of LifeWorks joint venture.
