Welcome to our dedicated page for Dayforce news (Ticker: CDAY), a resource for investors and traders seeking the latest updates and insights on Dayforce stock.
Dayforce Inc. (CDAY) is a globally recognized leader in human capital management (HCM) technology, providing comprehensive solutions to optimize the entire employee lifecycle. Headquartered in Toronto and Minneapolis, Dayforce offers its award-winning, cloud-based platform, Dayforce HCM, which integrates HR, payroll, benefits, workforce management, and talent management functionalities.
Recent Achievements: Dayforce has made significant strides, including the acquisition of eloomi to enhance its learning and development capabilities. This acquisition aims to provide advanced training programs and AI-driven content creation to foster employee growth and engagement.
Current Projects: The company is rolling out new retail-focused product releases to improve workforce management and employee engagement for over 1,280 retailers. These enhancements include real-time workforce intelligence and on-demand pay solutions.
Financial Condition: Dayforce recently announced it will release financial results for Q3 2023 on November 1, 2023. This follows a thorough review of its financial reporting controls, ensuring accurate and reliable financial statements.
Partnerships and Products: The Dayforce platform serves a diverse clientele, including major retailers like American Dream and Sobeys. The platform's features empower businesses of all sizes to manage their workforce effectively, boosting productivity and employee satisfaction.
For the latest updates, financial reports, and more information, visit Ceridian's website or contact their Investor Relations team.
Ceridian HCM Holding Inc. (CDAY) reported strong Q2 2021 results, with total revenue of $250.4 million, a 30% year-over-year increase. Excluding float revenue, total revenue was $240.0 million, up 32.5%. Dayforce recurring revenue reached $150.6 million, a 27.1% increase. The company raised its full-year 2021 total revenue guidance to $1.008 billion to $1.018 billion. Dayforce recurring revenue is expected to grow 31-32% in Q3 2021 and 32-33% in Q4. However, the company reported a net loss of $25.8 million, with a diluted net loss per share of $(0.17).
Ceridian (NYSE: CDAY) released its Future of Work report, revealing key insights from 2,000 global executives. 53% plan to increase team size in the next year, with 56% citing demand for services as their rationale. 71% intend to hire more remote employees, and 62% foresee gig workers replacing full-time roles within five years. Additionally, 46% are set to adopt AI tools for recruiting, enhancing efficiency and fairness in talent decisions.
Ceridian HCM Holding (NYSE:CDAY) has announced the release date for its second quarter 2021 earnings, set for August 4, 2021. The earnings report will be accessible after market close, followed by a live Zoom Webinar at 5:00 PM ET. Additionally, CEO David Ossip will present at the Wolfe Research TMT Conference on September 8 and the Jefferies Software Conference on September 14, 2021. Replays of these events will be available on the company’s Investor Relations website.
Ceridian (NYSE: CDAY; TSX: CDAY) has launched Dayforce Wallet in Canada, allowing employees to access their earned wages on-demand, addressing financial stress for many Canadians. A recent study shows that 34% of employed Canadians run out of money between paychecks, with 56% of younger workers favoring instant access to wages. Clients using Dayforce Wallet reported a 42% reduction in voluntary turnover and quicker hiring processes. Available now to Canadian employers, Dayforce Wallet aims to enhance employee financial wellness without any direct fees for users or employers.
Ceridian has announced a new global event series called Ceridian World Tour, set to take place in Las Vegas, New York, London, Singapore, and Melbourne. The event, kicking off in Las Vegas from October 4-7, will connect leaders and experts to share innovative strategies for the evolving workplace. Participants will benefit from networking opportunities, inspirational content, skill development, and hands-on experience with Dayforce. The series will prioritize health and safety, complying with local public health protocols.
Ceridian (NYSE: CDAY) has partnered with PwC UK to enhance its Dayforce HCM platform through consulting and implementation services in the UK and Ireland. This strategic alliance aims to address the growing demand for cloud-based HR solutions, providing existing and prospective clients with a comprehensive HCM and Payroll solution. Ceridian's Dayforce integrates HR, payroll, benefits, workforce management, and talent management into one solution. The partnership is part of Ceridian's broader Partner Network, offering businesses access to essential services for modernizing HCM processes.
Ceridian (NYSE: CDAY) announced the appointment of Bill McDonald as Executive Vice President and General Counsel, effective July 1, 2021. McDonald will also continue his role as Corporate Secretary and will oversee all legal functions within the company globally. With a long tenure at Ceridian, having joined in 1999, he has held various senior positions, most recently as Senior Vice President and Deputy General Counsel. This leadership change aims to strengthen Ceridian's legal affairs and support the company's growth strategy.
Ceridian HCM Holding reported a strong first quarter of 2021, with Dayforce recurring revenue at $145.3 million, up 13.4% year-over-year. Excluding float revenue, this figure rose 20.7%. The company expects full-year revenues to surpass $1 billion, bolstered by anticipated Dayforce recurring revenue growth of 28-29% in Q2 and over 29% in H2. Despite net losses of $(19.2) million, the company holds $339.6 million in cash and anticipates total revenue between $236 million and $240 million for Q2.
Ceridian (NYSE: CDAY) is set to acquire Ideal, a Toronto-based talent intelligence software provider, to enhance its Dayforce platform. The acquisition, expected to close on April 30, 2021, aims to optimize talent management through AI-driven capabilities. With Ideal's tools, Ceridian customers will improve recruitment efficiency and ensure diversity and inclusion in hiring processes. The deal represents Ceridian's commitment to advancing its technology offerings in a competitive labor market.
Ceridian has appointed Rocky Subramanian as the new Chief Revenue Officer (CRO) to enhance global revenues and expand partnerships. Reporting to President and COO Leagh Turner, Subramanian aims to drive sales growth and customer success through strategic alliances and the Dayforce platform. With extensive experience from SAP North America and PeopleSoft/Oracle, Subramanian is positioned to lead Ceridian in a rapidly evolving digital landscape. His appointment signifies a strong commitment to leveraging technology for improved workforce management and client engagement.
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