Jefferies has decided to maintain its Hold rating of Ceridian HCM Holding CDAY and lower its price target from $65.00 to $56.00.
Shares of Ceridian HCM Holding are trading up 0.57% over the last 24 hours, at $56.92 per share.
A move to $56.00 would account for a 1.62% decline from the current share price.
About Ceridian HCM Holding
Ceridian HCM provides payroll and human capital management solutions targeting clients with 100-100,000 employees. Following the 2012 acquisition of Dayforce, Ceridian pivoted away from its legacy on-premises Bureau business to become a cloud HCM provider. As of fiscal 2021, nearly 80% of group revenue was derived from the flagship Dayforce platform geared toward enterprise clients. The remaining revenue is about evenly split between cloud platform Powerpay, targeting small businesses in Canada, and legacy Bureau products.
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