Dayforce Stock Price, News & Analysis

Dayforce reported strong Q2 2024 results, with Dayforce recurring revenue up 20% to $321.6 million and total revenue up 16% to $423.3 million. Year-to-date net cash from operations increased 16% to $108.3 million. Key highlights include:

- Cloud recurring gross margin improved to 77.7%
- Adjusted EBITDA rose to $116.3 million from $98.4 million
- 6,657 customers now live on Dayforce platform, up 6.1% YoY
- Average float balance of $4.74 billion with 4.1% yield

The company announced a $500 million share repurchase program and plans to host its first Investor Day on November 12, 2024. Dayforce also expanded its global advisory partner ecosystem and launched new product capabilities including AI enhancements and Dayforce Payroll in Singapore.

Dayforce, Inc. (NYSE: DAY; TSX: DAY), a global human capital management leader, has announced a $500 million share repurchase program approved by its Board of Directors. The program, which has no expiration date, allows the company to repurchase its common stock through various means, including open market purchases and private transactions.

CFO Jeremy Johnson stated that Dayforce's strong results, improved profitability, and enhanced cash flow generation enable a comprehensive capital allocation strategy. This includes investments in technology innovation, strategic M&A, and now the share repurchase program. The initiative reflects the company's belief that its shares are undervalued and demonstrates confidence in the business.

Dayforce, a global leader in human capital management (HCM), announced it will release its second quarter 2024 financial results on July 31, 2024, before market open. The company will host a live webcast at 8:00 a.m. ET to discuss the results, accessible via their Investor Relations website. Additionally, Dayforce will participate in several upcoming investor conferences. These include: the Citi Global TMT Conference in New York on September 4, 2024, with CFO Jeremy Johnson; the Goldman Sachs Communacopia & Technology Conference in San Francisco on September 9, 2024, where CEO David Ossip will present; and the Wolfe Research TMT Conference in San Francisco on September 10, 2024, with CFO Jeremy Johnson. The events will feature live webcasts and replays available on Dayforce’s Investor Relations website.

Dayforce has released a report, 'Conquering the Frontline Manager Complexity Crisis,' highlighting a disconnect between executives and frontline employees. While 83% of executives believe they understand the challenges faced by frontline workers, only 62% of employees agree. The study, conducted by Hanover Research, surveyed 6,935 workers, managers, and executives.

The report identifies key areas for improvement: workforce planning, competitive pay, tackling labor shortages, compliance, and building culture and connection. Findings include that 89% of managers and 86% of workers would leave for better scheduling, and 72% of managers lack confidence in making compensation decisions. Additionally, 42% of managers find compliance increasingly difficult. The report suggests empowering managers with data and tools to address these challenges.

Dayforce emphasizes the need for executive support to align organizational goals and improve frontline worker experiences, potentially reducing turnover and enhancing performance.

Dayforce, a leader in human capital management (HCM), announced that WHSmith has expanded its use of the Dayforce platform to include HR, Managed Pay, Advanced Scheduling, Performance Management, Succession Planning, and Analytics for its 10,000 UK employees. Initially adopting Dayforce for Time and Attendance in 2017, WHSmith will add Compensation, Recruiting, and Onboarding functions later this year. The integration aims to streamline people management and payroll systems across over 500 UK stores, improving data-driven decision-making, compliance, and employee experience. This move underscores Dayforce's capability to provide efficiency and accuracy at scale.

Dayforce has appointed Nicole Bello as Group Vice President of EMEA, effective immediately. Bello will lead the sales efforts in Europe, the Middle East, and Africa, focusing on expanding and accelerating the use of the Dayforce platform in the region. Bello reports to Sam Alkharrat, EVP and Chief Revenue Officer. With over 20 years of experience at ADP and UKG, Bello is expected to bring valuable expertise in workforce transformations, sales, marketing, and talent development. The appointment aims to enhance Dayforce’s momentum and support its growth in the EMEA region.

Dayforce (NYSE: DAY; TSX: DAY) has launched its Dayforce Payroll solution in Singapore, marking a significant expansion in the Asia-Pacific region. This development aims to streamline payroll processes, enhance efficiency, and ensure compliance with local regulations. Dayforce's platform integrates HR, pay, time, talent, and analytics, supporting over 25 languages. The launch is a strategic move to solidify Dayforce's market leadership in a region known for digital innovation. With over 20 years of payroll experience in Asia, the company offers solutions that reduce risks and costs associated with payroll management, benefiting industries such as manufacturing, retail, and professional services.

Dayforce has launched Dayforce Flex Work in the United States, a marketplace for organizations to augment their workforce with flexible, vetted W-2 talent. Flex Work helps companies address fluctuating labor demands by offering a seamless platform to post open shifts and hire skilled workers quickly. It manages background checks, onboarding, and payroll, reducing administrative burdens. This solution aims to democratize the gig economy, particularly benefiting sectors like retail, hospitality, and manufacturing. Flex Work allows workers to find shifts, build schedules, and get paid the same day via Dayforce Wallet.

Dayforce, Inc. has launched Dayforce Partner Exchange, an ecosystem of software and services partners to enhance Dayforce solutions. This curated marketplace aims to help customers accelerate HR innovation and drive business value. By providing access to vetted system integrators and technology providers, Dayforce Partner Exchange offers a streamlined approach for customers to find approved partner solutions and efficiently meet their unique business needs. This initiative is part of the broader Dayforce Exchange, offering various exchanges tailored to different customer requirements.