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Ceridian HCM Holding Inc CDAY Stock Quote

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Morningstar‘s Stock Analysis CDAY

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Economic Moat

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Ceridian Is on Track to Report Impressive Growth in Fiscal 2022 Despite Foreign Exchange Challenges

Emma Williams Equity Analyst

Analyst Note

| Emma Williams |

Narrow-moat Ceridian enjoyed continued momentum in the second quarter of fiscal 2022. Group revenue increased 23% year on year on a constant-currency basis underpinned by healthy client growth, a skew to larger businesses, greater module uptake, and resilient retention. Adjusted EBITDA margins expanded an impressive 460 basis points to 20.5% on further realization of customer service efficiencies including greater automation and lower labor costs, and contribution from higher interest on client funds and module uptake.

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Key Statistics CDAY

Company Profile CDAY

Business Description

Ceridian HCM provides payroll and human capital management solutions targeting clients with 100-100,000 employees. Following the 2012 acquisition of Dayforce, Ceridian pivoted away from its legacy on-premises Bureau business to become a cloud HCM provider. As of fiscal 2021, nearly 80% of group revenue was derived from the flagship Dayforce platform geared toward enterprise clients. The remaining revenue is about evenly split between cloud platform Powerpay, targeting small businesses in Canada, and legacy Bureau products.

Contact
3311 East Old Shakopee Road
Minneapolis, MN, 55425
T +1 952 853-8100
Industry Software - Application
Most Recent Earnings Jun 30, 2022
Fiscal Year End Dec 31, 2022
Stock Type Speculative Growth
Employees 7,462