Latest news with #DavidOssip
Cision Canada
11-06-2025
- Business
- Cision Canada
Government of Canada Moves Forward with HR and Pay Transformation Through Dayforce Français
GATINEAU, QC , /CNW/ - The Government of Canada is taking the next step toward replacing the Phoenix pay system to drive efficiency and effectiveness across government. Today, the Honourable Joël Lightbound, Minister of Government Transformation, Public Works and Procurement, announced that the Government of Canada is moving forward to the final build and testing phase of the Dayforce HR and pay solution. This decision follows the completion of a rigorous feasibility study and marks a significant step toward modernizing the government's HR and pay systems. The Dayforce solution will replace a significant number of HR systems in use across the Government of Canada. It reflects the government's continued commitment to business and digital transformation built on transparency, efficiency, and employee experience. The Government of Canada will finalize the configuration and testing of Dayforce and work with departments to confirm their readiness to onboard. This phased approach builds on lessons learned and will help reduce risks associated with large-scale transformation and ensure a smooth transition for employees. Employee engagement will continue to be a key focus throughout the transformation process. By involving employees in readiness activities and ensuring continuous feedback mechanisms, the government is implementing an HR and pay solution that offers an efficient people-centric platform aligned with workforce needs. Quotes "The Government of Canada remains committed to modernizing its HR and pay systems in a responsible and transparent manner. By investing in the future of HR and pay, we are taking an important step forward in ensuring an efficient, secure, and sustainable solution for public service employees." The Honourable Joël Lightbound Minister of Government Transformation, Public Works and Procurement "We are excited to strengthen our partnership with the Government of Canada. Dayforce brings together advanced technologies into a single, AI-powered people platform designed to simplify processes and deliver real value. We are committed to supporting this transformative HR and pay initiative, ensuring it enhances work-life and drives meaningful improvements for government employees across the country." David Ossip Chair and Chief Executive Officer of Dayforce, Inc. Quick Facts The current pay system is used to deliver pay to an average of 431,000 current and former employees bi-weekly. In 2024, this represented approximately 13.4 million payments, totalling approximately $40.1 billion. The complexity of the Government of Canada HR and pay environment includes the challenge of applying almost 150 different collective agreements representing employees from over 100 departments and agencies. The initiative is incorporating lessons learned from the previous pay system implementation and recommendations intended to guide future projects of similar size and scope. In particular, recommendations around stakeholder engagement and governance were guided by Lessons Learned from the Transformation of Pay Administration Initiative (Goss Gilroy report). Over 3,000 public servants participated in user awareness sessions during the feasibility project, with the majority of participants reporting that they found Dayforce simple and easy to use. Feedback from participants is being used to improve the system further. Dayforce is a global human capital management technology company with deep Canadian roots. Its single AI-powered people platform for HR, pay, time, talent and analytics is trusted by thousands of customers and serves millions of employees worldwide. Over the next 2 years, the deployment of the Dayforce solution will begin to progressively onboard starting with two departments and a separate agency, where the Government of Canada will focus on departmental readiness as it prepares to deploy the system. Enterprise Integrated Strategy on Human Resources and Pay Final Findings Report Dayforce feasibility report summary Follow us on X (Twitter) Follow us on Facebook SOURCE Public Services and Procurement Canada
Yahoo
11-06-2025
- Business
- Yahoo
DAY Q1 Earnings Call: Revenue Beats Offset by Cautious Outlook and Margin Pressure
Online payroll and human resource software provider Dayforce (NYSE:DAY) reported Q1 CY2025 results beating Wall Street's revenue expectations , with sales up 11.7% year on year to $481.8 million. On the other hand, next quarter's revenue guidance of $411 million was less impressive, coming in 11.4% below analysts' estimates. Its non-GAAP profit of $0.58 per share was 6.9% above analysts' consensus estimates. Is now the time to buy DAY? Find out in our full research report (it's free). Revenue: $481.8 million vs analyst estimates of $476.8 million (11.7% year-on-year growth, 1.1% beat) Adjusted EPS: $0.58 vs analyst estimates of $0.54 (6.9% beat) The company slightly lifted its revenue guidance for the full year to $1.76 billion at the midpoint from $1.75 billion Operating Margin: 6.4%, down from 9.4% in the same quarter last year Market Capitalization: $9.58 billion Dayforce's first quarter was driven by continued customer adoption of its unified human capital management platform, with CEO David Ossip highlighting that project kickoffs and sales momentum 'remained in excellent shape' following two strong quarters. Management emphasized that Dayforce's ability to reduce clients' HR software complexity—from an average of 12 systems to a single application—remains attractive even in uncertain economic periods. Notably, the company secured several large, full-suite deals across major industries, including a 61,500-employee entertainment and leisure firm and a large North American civil engineering company. Add-on sales to existing customers grew 30%, while live customers on the platform increased 5.4% year over year. CFO Jeremy Johnson pointed to improved free cash flow and operating leverage, citing the impact of cost efficiency measures and a recent global workforce reduction. The company also made progress in migrating legacy customers to its Dayforce platform, which typically yields higher recurring revenue per client. Looking forward, Dayforce's guidance reflects both optimism in its sales pipeline and caution around macroeconomic variables. While the company beat Q1 revenue expectations, its revenue guidance for the upcoming second quarter of $411 million came in 11.4% below analyst estimates, signaling near-term caution. Management reiterated that strong bookings in recent quarters provide 'tremendous confidence as we go into 2026 and beyond,' but acknowledged that employment levels at client companies—a key revenue driver due to per-employee billing—remain a potential risk. Johnson explained that while no change in client retention or employment levels has been observed, these metrics are closely monitored given their direct impact on revenue. The company also pointed to ongoing investments in artificial intelligence, product enhancements, and expanded system integrator partnerships as critical to future growth, but warned of margin headwinds from restructuring charges and the need to balance reinvestment with efficiency. Ossip noted that Dayforce's 'predictable business model' and high customer adoption of full-suite solutions are expected to partially offset external pressures. Management attributed the quarter's growth to strong demand for full-suite solutions, higher sales productivity, and effective cost management, while noting that margin compression reflected restructuring and investment initiatives. Full-suite deal momentum: Dayforce continued to win large, organization-wide contracts, with over 50% of new deals being full-suite implementations. This trend was particularly strong in the enterprise and major market segments, where nearly all new customers opted for the complete Dayforce offering. Sales productivity gains: CEO David Ossip reported that win rates 'almost doubled year-over-year,' driven by technology differentiation, customer ROI, and the appeal of a single, unified application. The sales team's execution and clear articulation of value were also cited as factors. AI adoption and product enhancements: The company expanded its AI assistant, previously known as Copilot, to mobile platforms and achieved a 50% attach rate in new deals. Management described plans to launch additional AI agents spanning HR, payroll, and talent domains, aiming to drive further upsell opportunities. System integrator (SI) channel expansion: Strategic partnerships with top SI firms helped accelerate deal wins, particularly in large enterprise contracts. Dayforce noted that SI-primed deals and partner-led pipelines grew significantly, aiding scalability without expanding its own services headcount. Efficiency plan impact: The company executed a global workforce reduction, targeting $65 million in 2025 cost savings and $80 million annualized. These savings are expected to improve recurring gross margins and operating leverage, although they are partially offset by one-time restructuring charges. Dayforce expects future performance to be shaped by continued strength in sales bookings, AI-driven product innovation, and careful management of macroeconomic and margin headwinds. Sales pipeline conversion: Management believes the robust sales pipeline and strong first-half bookings position Dayforce for sustained revenue growth, with a focus on converting large enterprise deals and expanding within existing accounts through add-on sales. Margin management and reinvestment: The company anticipates margin improvement from its efficiency plan, but also recognizes margin pressure from ongoing restructuring charges and targeted reinvestment into product development, especially in AI and compliance. Macro and employment risks: Revenue remains sensitive to customer employment levels, as Dayforce bills per employee per month. Management is monitoring these trends closely, noting that while no negative impact has been seen yet, a downturn in employment among clients could affect revenue trajectories. In future quarters, the StockStory team will be watching (1) whether Dayforce sustains its high rate of full-suite deal wins and converts its elevated sales pipeline into recurring revenue, (2) the pace of AI-driven product adoption and upsell success within the existing customer base, and (3) execution of its cost efficiency plan and resulting margin trends. Progress on large government contracts and performance in international markets will also be key indicators. Dayforce currently trades at a forward price-to-sales ratio of 4.9×. At this valuation, is it a buy or sell post earnings? Find out in our full research report (it's free). The market surged in 2024 and reached record highs after Donald Trump's presidential victory in November, but questions about new economic policies are adding much uncertainty for 2025. While the crowd speculates what might happen next, we're homing in on the companies that can succeed regardless of the political or macroeconomic environment. Put yourself in the driver's seat and build a durable portfolio by checking out our Top 5 Growth Stocks for this month. This is a curated list of our High Quality stocks that have generated a market-beating return of 183% over the last five years (as of March 31st 2025). Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-small-cap company Exlservice (+354% five-year return). Find your next big winner with StockStory today.
Yahoo
30-05-2025
- Business
- Yahoo
Spotting Winners: Dayforce (NYSE:DAY) And HR Software Stocks In Q1
The end of the earnings season is always a good time to take a step back and see who shined (and who not so much). Let's take a look at how HR software stocks fared in Q1, starting with Dayforce (NYSE:DAY). Modern HR software has two powerful benefits: cost savings and ease of use. For cost savings, businesses large and small much prefer the flexibility of cloud-based, web-browser-delivered software paid for on a subscription basis rather than the hassle and complexity of purchasing and managing on-premise enterprise software. On the usability side, the consumerization of business software creates seamless experiences whereby multiple standalone processes like payroll processing and compliance are aggregated into a single, easy-to-use platform. The 5 HR software stocks we track reported a satisfactory Q1. As a group, revenues beat analysts' consensus estimates by 1.3% while next quarter's revenue guidance was 3.6% below. In light of this news, share prices of the companies have held steady as they are up 4.3% on average since the latest earnings results. Founded in 1992 as Ceridian, an outsourced payroll processor and transformed after the 2012 acquisition of Dayforce, Dayforce (NYSE:DAY) is a provider of cloud based payroll and HR software targeted at mid-sized businesses. Dayforce reported revenues of $481.8 million, up 11.7% year on year. This print exceeded analysts' expectations by 1.1%. Despite the top-line beat, it was still a slower quarter for the company with revenue guidance for next quarter missing analysts' expectations and billings in line with analysts' estimates. "We kicked off the year with strong first quarter results and excellent sales momentum,' said David Ossip, Chair and CEO of Dayforce. Dayforce delivered the weakest full-year guidance update of the whole group. The market was likely pricing in the results, and the stock is flat since reporting. It currently trades at $57.70. Read our full report on Dayforce here, it's free. Founded by payroll software veteran Steve Sarowitz in 1997, Paylocity (NASDAQ:PCTY) is a provider of payroll and HR software for small and medium-sized enterprises. Paylocity reported revenues of $454.5 million, up 13.3% year on year, outperforming analysts' expectations by 2.9%. The business had a very strong quarter with an impressive beat of analysts' EBITDA estimates. Paylocity scored the biggest analyst estimates beat, fastest revenue growth, and highest full-year guidance raise among its peers. The market seems content with the results as the stock is up 2.9% since reporting. It currently trades at $200. Is now the time to buy Paylocity? Access our full analysis of the earnings results here, it's free. One of the oldest service providers in the industry, Paychex (NASDAQ:PAYX) offers its customers payroll and HR software solutions. Paychex reported revenues of $1.51 billion, up 4.8% year on year, in line with analysts' expectations. It was a mixed quarter as it posted EBITDA in line with analysts' estimates. Paychex delivered the weakest performance against analyst estimates and slowest revenue growth in the group. Interestingly, the stock is up 9.1% since the results and currently trades at $157.14. Read our full analysis of Paychex's results here. Founded in 1998 as one of the first online payroll companies, Paycom (NYSE:PAYC) provides software for small and medium-sized businesses (SMBs) to manage their payroll and HR needs in one place. Paycom reported revenues of $530.5 million, up 6.1% year on year. This result topped analysts' expectations by 0.9%. It was a very strong quarter as it also produced a solid beat of analysts' EBITDA estimates. The stock is up 11.9% since reporting and currently trades at $255.68. Read our full, actionable report on Paycom here, it's free. Created from the merger of two small workforce management companies in 2007, Asure (NASDAQ:ASUR) provides cloud based payroll and HR software for small and medium-sized businesses (SMBs). Asure reported revenues of $34.85 million, up 10.1% year on year. This number beat analysts' expectations by 1.7%. More broadly, it was a satisfactory quarter as it also recorded an impressive beat of analysts' EBITDA estimates. The stock is down 1.3% since reporting and currently trades at $9.64. Read our full, actionable report on Asure here, it's free. The Fed's interest rate hikes throughout 2022 and 2023 have successfully cooled post-pandemic inflation, bringing it closer to the 2% target. Inflationary pressures have eased without tipping the economy into a recession, suggesting a soft landing. This stability, paired with recent rate cuts (0.5% in September 2024 and 0.25% in November 2024), fueled a strong year for the stock market in 2024. The markets surged further after Donald Trump's presidential victory in November, with major indices reaching record highs in the days following the election. Still, questions remain about the direction of economic policy, as potential tariffs and corporate tax changes add uncertainty for 2025. Want to invest in winners with rock-solid fundamentals? Check out our Top 5 Quality Compounder Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
News.com.au
19-05-2025
- Politics
- News.com.au
NSW Jewish group ‘overwhelmed' by anti-Semitic incidents as landmark inquiry gets under way
A leading Jewish organisation has described being 'overwhelmed' by the 'sheer volume' of anti-Semitic incidents in NSW as a landmark state government inquiry gets under way. Shooters, Fishers, and Farmers MP Robert Borsak is chairing the first hearing in state parliament on Monday of the NSW Legislative Council's inquiry into anti-Semitism in NSW, alongside Greens MLC Amanda Cohn and MLCs from Labor and the Liberals. The inquiry seeks to examine the underlying causes behind the 'increasing prevalence and severity' of anti-Semitism in NSW, as well as the 'threat to social cohesion' it presents and how the safety of the state's Jewish community 'might be enhanced'. NSW Jewish Board of Deputies president David Ossip told the inquiry that 'the past 20 months had seen an unprecedented and shocking rise in anti-Semitism' following the October 7 attack in Israel and the subsequent protests over the invasion of Gaza. 'For the first time, the Jewish community of Australia and NSW has felt unsafe and at risk, not because of anything it has done, but because of who we are,' he said. 'There have been moments where we have been completely overwhelmed as an organisation by the sheer volume and seriousness of anti-Semitic incidents which have been reported to us … No sphere of life has been immune to the virus of anti-Semitism.' The inquiry was told of incidents reported to the organisation in which students were targeted because of their Jewish identity, including one in which a student was asked 'Are you Jewish? F**king Jews. You should kill yourself'. 'This all previously would have been unthinkable,' Mr Ossip told the inquiry. In its submission, the board said there was a 339 per cent increase in incidents. It comes after a spate of high-profile anti-Semitic incidents across Greater Sydney this past summer that led to the passing of controversial new anti-hate laws that outlawed protests outside places of worship among other strict measures. NSW Jewish Board of Deputies chief executive Michele Goldman told the inquiry that the board welcomed the new anti-hate speech laws, and it was 'something we've been advocating for some time' and a 'first step' but called for more action to be taken. 'What we really need to see now is consistent application of the law to ensure that those people who are guilty of vilification, of harassment, of intimidation face the law and that there is effective deterrence to others,' Ms Goldman told the inquiry. 'A clear message is that this is not OK in our society. This is not for Australia.' Opponents of the laws, including civil society groups and Jewish groups and individuals who made submissions to the inquiry, claim the laws limit free speech and were a 'kneejerk' reaction and warned about conflations between criticism of Israel and anti-Semitism. Asked about those concerns, Mr Ossip said 'getting into this discussion is a bit of a red herring' and the overwhelming majority of incidents reported to the organisation were 'textbook anti-Semitism … (which) have nothing to do with Israel or Zionism'. 'I think where the line is crossed is where hatred of Israel spills over into suspicion of Jews more broadly or a view that Jews are pernicious, dangerous, or particularly egregious in their actions,' Mr Ossip told the inquiry. 'I think it's when protesters will deny the rights of Jews for self-determination and saying that Israel's very existence is illegitimate or inherently racist.' Mr Ossip told the inquiry that Holocaust education 'isn't sufficient to combat anti-Semitism'. He singled out 'tropes' that were often 'subtle and pernicious'. On far-right extremism, Mr Ossip went on to add that 'they're obviously an immense concern to us, but we've been making mistakes just to describe it as anti-Semitism'.
Yahoo
07-05-2025
- Business
- Yahoo
Dayforce (NYSE:DAY) Posts Better-Than-Expected Sales In Q1 But Stock Drops
Online payroll and human resource software provider Dayforce (NYSE:DAY) reported Q1 CY2025 results exceeding the market's revenue expectations , with sales up 11.7% year on year to $481.8 million. On the other hand, next quarter's revenue guidance of $411 million was less impressive, coming in 11.4% below analysts' estimates. Its non-GAAP profit of $0.58 per share was 6.9% above analysts' consensus estimates. Is now the time to buy Dayforce? Find out in our full research report. Dayforce (DAY) Q1 CY2025 Highlights: Revenue: $481.8 million vs analyst estimates of $476.8 million (11.7% year-on-year growth, 1.1% beat) Adjusted EPS: $0.58 vs analyst estimates of $0.54 (6.9% beat) Adjusted EBITDA: $156.7 million vs analyst estimates of $150.7 million (32.5% margin, 4% beat) The company slightly lifted its revenue guidance for the full year to $1.76 billion at the midpoint from $1.75 billion Operating Margin: 6.4%, down from 9.4% in the same quarter last year Free Cash Flow Margin: 4%, down from 11.7% in the previous quarter Market Capitalization: $9.21 billion "We kicked off the year with strong first quarter results and excellent sales momentum,' said David Ossip, Chair and CEO of Dayforce. Company Overview Founded in 1992 as Ceridian, an outsourced payroll processor and transformed after the 2012 acquisition of Dayforce, Dayforce (NYSE:DAY) is a provider of cloud based payroll and HR software targeted at mid-sized businesses. Sales Growth Reviewing a company's long-term sales performance reveals insights into its quality. Even a bad business can shine for one or two quarters, but a top-tier one grows for years. Over the last three years, Dayforce grew its sales at a 18.7% annual rate. Although this growth is acceptable on an absolute basis, it fell slightly short of our standards for the software sector, which enjoys a number of secular tailwinds. Dayforce Quarterly Revenue This quarter, Dayforce reported year-on-year revenue growth of 11.7%, and its $481.8 million of revenue exceeded Wall Street's estimates by 1.1%. Company management is currently guiding for a 2.9% year-on-year decline in sales next quarter. Looking further ahead, sell-side analysts expect revenue to grow 9.8% over the next 12 months, a deceleration versus the last three years. This projection doesn't excite us and suggests its products and services will see some demand headwinds. Today's young investors likely haven't read the timeless lessons in Gorilla Game: Picking Winners In High Technology because it was written more than 20 years ago when Microsoft and Apple were first establishing their supremacy. But if we apply the same principles, then enterprise software stocks leveraging their own generative AI capabilities may well be the Gorillas of the future. So, in that spirit, we are excited to present our Special Free Report on a profitable, fast-growing enterprise software stock that is already riding the automation wave and looking to catch the generative AI next.
