What Makes Ceridian HCM Holding (CDAY) an Attractive Investment?

·2 min read

Artisan Partners, an investment management company, released its “Artisan Small Cap Fund” fourth quarter 2022 investor letter. A copy of the same can be downloaded here. In the fourth quarter, its Investor Class fund ARTSX returned 6.27%, Advisor Class fund APDSX posted a return of 6.31%, and Institutional Class fund APHSX returned 6.38%, compared to a return of 4.13% for the Russell 2000 Growth Index. Security selection, especially strong holdings in the healthcare sector, drove the fund’s outperformance in the quarter.  In addition, please check the fund’s top five holdings to know its best picks in 2022.

Artisan Small Cap Fund highlighted stocks like Ceridian HCM Holding Inc. (NYSE:CDAY) in the Q4 2022 investor letter. Headquartered in Minneapolis, Minnesota, Ceridian HCM Holding Inc. (NYSE:CDAY) is a human capital management software company. On March 2, 2023, Ceridian HCM Holding Inc. (NYSE:CDAY) stock closed at $73.18 per share. One-month return of Ceridian HCM Holding Inc. (NYSE:CDAY) was -3.96%, and its shares gained 9.68% of their value over the last 52 weeks. Ceridian HCM Holding Inc. (NYSE:CDAY) has a market capitalization of $11.259 billion.

Artisan Small Cap Fund made the following comment about Ceridian HCM Holding Inc. (NYSE:CDAY) in its Q4 2022 investor letter:

"Ceridian HCM Holding Inc. (NYSE:CDAY) is a cloud-based provider of payroll and human capital management (HCM) software. We had initiated a position in Q3 after the company won several large enterprise customers (UPS, Amazon UK, among others), which we believe validates its improved Dayforce HCM platform. We believe the company’s product investments over the past several years and changes to its sales organization are starting to pay off through the form of deal wins and margin leverage. These positive data points and a reasonable valuation prompted us to continue to add to the position in Q4."

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Ceridian HCM Holding Inc. (NYSE:CDAY) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 22 hedge fund portfolios held Ceridian HCM Holding Inc. (NYSE:CDAY) at the end of the fourth quarter which was 24 in the previous quarter.

We discussed Ceridian HCM Holding Inc. (NYSE:CDAY) in another article and shared the list of biggest payroll companies in the world. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.


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Disclosure: None. This article is originally published at Insider Monkey.