Fly News Breaks for December 18, 2019
Dec 18, 2019 | 08:20 EDT
Jefferies analyst Samad Samana said additional disclosures made by Ceridian in an 8-K around its actual float revenue for the Bureau, Dayforce, and Powerpay businesses provides more clarity and will add to investors' confidence in the "all-important Dayforce business," which has seen its subscription revenue growth accelerate the last two quarters. The slightly better than he expected trajectory for growth in Q3 revealed in the disclosure adds to his confidence in further acceleration, said Samana, who keeps a Buy rating on Ceridian and raised his price target on the stock to $73 from $65.
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