From Nasdaq:

1. Ceridian HCM (CDAY) reported impressive third-quarter 2023 results, with 35% year-over-year growth in Dayforce recurring revenues at constant currency. This growth was fueled by the continuous adoption of new clients, successful implementations, and Ceridian HCM’s emphasis on innovation.

2. The company added a net total of 353 new customers to the Dayforce platform in the third quarter of 2023, reflecting its successful expansion and adoption of human capital management solutions. Key client acquisitions include Swissport, a global aviation service provider.

3. Ceridian HCM’s strategy of partnering with companies like Microsoft is contributing to its growth. The organization is extending its reach and collaborations, enhancing its global impact and expanding its client base.

4. For the fourth quarter of 2023, management expects revenues to be between $398 million and $401 million, indicating an increase of 18-19% on a GAAP basis and at constant currency. For 2023, revenues are expected to be between $1.512 billion and $1.515 billion.

5. Ceridian HCM currently has a Zacks Rank #1 (Strong Buy) and the stock has returned 2.2% in the past six months. Other top-ranked stocks in the industry are Camtek (CAMT) and Blackline (BL), which have shown impressive returns and long-term earnings growth potential.



Read more: Here’s Why Ceridian HCM (CDAY) is a Must-Buy Stock in 2024