Why Did Needham Downgrade Ceridian HCM Holdings Stock?
Needham analyst Scott Berg downgraded Ceridian HCM Holding (CDAY) to Hold today. The companys shares closed last Monday at $89.13. According to TipRanks.com, Berg is a top 25 analyst with an average return of 31.3% and a 74.4% success rate. Berg covers the Technology sector, focusing on stocks such as GTY Technology Holdings, Cornerstone Ondemand, and BigCommerce Holdings. Ceridian HCM Holding has an analyst consensus of Moderate Buy, with a price target consensus of $107.75. See todays analyst top recommended stocks >>  Based on Ceridian HCM Holdings latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $235 million and GAAP net loss of $19.2 million. In comparison, last year the company earned revenue of $223 million and had a net profit of $8.6 million. Based on the recent corporate insider activity of 41 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CDAY in relation to earlier this year. TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities. Ceridian HCM Holding, Inc. engages in the development of human capital management software. It offers Dayforce, Powerpay, and Bureau products and services. The Dayforce provides human resources (HR), payroll, benefits, workforce management, and talent management functionality. The Powerpay is a cloud HR and payroll solution for the Canadian small business market, through both direct sales and established partner channels. The Bureau solutions offer payroll and payroll-related services using legacy technology. The company was founded on July 3, 2013 and is headquartered in Minneapolis, MN.