Dayforce Inc. - CDAY STOCK NEWS

Ceridian (NYSE: CDAY) has been recognized as a Leader in the Gartner 2020 Magic Quadrant for Cloud HCM Suites for enterprises with over 1,000 employees, highlighting its strong market vision and execution.

This accolade reflects Ceridian's commitment to enhancing employee experience and delivering strategic value through innovative solutions like Dayforce Wallet. The company’s solutions enable businesses to adapt effectively in a changing workplace, prioritizing the health and well-being of employees.

Ceridian HCM Holding (CDAY) reported its third quarter 2020 financial results, showcasing significant growth in Dayforce recurring services revenue at $122.7 million, a 12.2% increase year-over-year. Excluding float revenue, this figure reaches $115.1 million with a year-over-year growth of 17.9%. However, net loss stands at $0.8 million, a decline from $62.7 million net income reported last year, reflecting a one-time tax benefit in 2019. Adjusted EBITDA decreased to $33.2 million, down 28.4% compared to the previous year.

Ceridian (NYSE: CDAY) has appointed Seth Ross as General Manager of Dayforce Wallet and Consumer Services to enhance its financial wellness solutions. Ross, who previously led Green Dot Corporation's banking services, aims to expand Dayforce Wallet's features and global presence. This innovative product allows employees to access earned wages on-demand, earning recognition as a top HR solution. With 80% of Americans living paycheck to paycheck, Ceridian sees an opportunity to transform traditional pay periods, aligning with its mission to improve financial lives worldwide.

Ceridian HCM Holding reported its Q3 2020 financial results, highlighting Dayforce recurring services revenue at $122.7 million, a 12.2% increase year-over-year. Total revenue reached $157.8 million, up 9.8%. Despite a net loss of $0.8 million compared to a net income of $62.7 million in 2019, adjusted EBITDA was $33.2 million. The company anticipates Q4 Dayforce recurring services revenue growth of 12% to 13%. Currently, Ceridian maintains a strong cash position of $554.6 million and a total debt of $964.9 million.

Ceridian HCM Holding Inc. (NYSE: CDAY) has announced its third quarter 2020 earnings release scheduled for November 5, 2020, after market close. Shareholders can attend a live webinar at 5:00 p.m. ET that day, with a registration link provided. Additionally, CEO David Ossip will participate in upcoming investor conferences on November 18 and December 1, 2020, providing opportunities for one-on-one meetings. Ceridian continues to deliver comprehensive human capital management solutions through its Dayforce platform, enhancing workforce management across various organization sizes.

On September 17, 2020, Ceridian (NYSE: CDAY, TSX: CDAY) announced the appointment of Noémie Heuland as Executive Vice President and Chief Financial Officer, effective October 5, 2020. She will oversee global finance functions including investor relations, financial strategy, and reporting. Heuland joins from SAP, where she served as CFO for Latin America, bringing experience in large-scale financial management. David Ossip, Chairman and CEO, highlighted her transformative leadership as crucial for Ceridian's growth strategy and commitment to product innovation.

Ceridian HCM Holding Inc. (NYSE: CDAY) announced a secondary public offering of 7,717,347 shares, including 500,000 from CEO David Ossip, expected to close on August 28, 2020. The offering is exclusively from selling stockholders, with proceeds going to them. This move indicates significant shareholder liquidity but does not raise new capital for the company. BofA Securities and J.P. Morgan are the underwriters. All sales will occur at prevailing market prices.