{"id":8218,"date":"2023-11-01T17:43:35","date_gmt":"2023-11-01T17:43:35","guid":{"rendered":"https:\/\/infundpros.com\/markets\/stocks\/ceridian-outperforms-q3-expectations-with-19-6-revenue-increase\/"},"modified":"2023-11-01T17:43:36","modified_gmt":"2023-11-01T17:43:36","slug":"ceridian-outperforms-q3-expectations-with-19-6-revenue-increase","status":"publish","type":"post","link":"https:\/\/infundpros.com\/?p=8218","title":{"rendered":"Ceridian outperforms Q3 expectations with 19.6% revenue increase"},"content":{"rendered":"
\n
\n

\u00a9 Reuters. <\/span>
\n<\/i>\n<\/div>\n

Ceridian (NYSE:), a cloud-based payroll and HR software provider has reported impressive financial results for Q3 FY2023, exceeding Wall Street predictions. The company’s revenue surged by 19.6% year-on-year (YoY) to reach $377.5 million, outperforming analyst estimates by a margin of 2.19%. This robust performance is attributed to the growth in recurring revenue from Dayforce, the HR software acquired in 2012, which saw a substantial increase of 34.6%.<\/p>\n

The company’s non-GAAP EPS also improved significantly, turning into a profit of $0.37 per share from a loss of $0.14 per share YoY. However, Ceridian’s free cash flow experienced a substantial quarter-on-quarter (QoQ) decline of 93.9%, settling at $4.8 million.<\/p>\n

In terms of customers, Ceridian saw a modest increase from 6,272,000 to 6,346,000 despite a slight dip in GAAP gross margin from 43% to 42.5%. Chair and Co-CEO David Ossip attributed the company’s solid performance to the success of Dayforce. The web-browser-delivered software offers cost savings and seamless experiences through its subscription-based service, ease of use, and compliance aggregation.<\/p>\n

Looking ahead, Ceridian provided optimistic revenue guidance for the next quarter, projecting $399.5 million at the midpoint. This forecast surpasses analyst projections by 1.67%, indicating potential continued growth for the company in the coming quarter.<\/p>\n

InvestingPro Insights<\/h2>\n

Taking into account real-time data from InvestingPro, Ceridian (CDAY) presents an intriguing financial landscape. The company’s market cap is currently standing at $9510M USD. Despite not being profitable over the last twelve months, the company’s revenue growth has been accelerating, showing a 22.44% increase in the last twelve months as of Q2 2023. This aligns with the company’s recent impressive Q3 FY2023 financial results.<\/p>\n

InvestingPro Tips suggest that Ceridian is expected to grow its net income this year, with 8 analysts having revised their earnings upwards for the upcoming period. This is a positive sign for potential investors, as it indicates a favourable outlook for the company’s financial performance.<\/p>\n

In terms of valuation, Ceridian is trading at a high Price \/ Book multiple of 4.74 as of Q2 2023. This suggests that the market has high expectations for the company’s future earnings growth.<\/p>\n

For more in-depth analysis and additional investing tips, consider exploring InvestingPro’s extensive resources. With over 10 more tips available for Ceridian, it is a valuable tool for any investor looking to make informed decisions.<\/p>\n

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.<\/em><\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. Ceridian (NYSE:), a cloud-based payroll and HR software provider has reported impressive financial results for Q3 FY2023, exceeding Wall Street…<\/p>\n","protected":false},"author":1,"featured_media":1435,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[27],"tags":[],"class_list":{"0":"post-8218","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-stocks"},"yoast_head":"\nCeridian outperforms Q3 expectations with 19.6% revenue increase | inFundPros<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. Ceridian (NYSE:), a cloud-based payroll and HR software provider has reported impressive financial results for Q3 FY2023, exceeding Wall Street\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/infundpros.com\/?p=8218\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ceridian outperforms Q3 expectations with 19.6% revenue increase | inFundPros\" \/>\n<meta property=\"og:description\" content=\"\u00a9 Reuters. Ceridian (NYSE:), a cloud-based payroll and HR software provider has reported impressive financial results for Q3 FY2023, exceeding Wall Street\" \/>\n<meta property=\"og:url\" content=\"https:\/\/infundpros.com\/?p=8218\" \/>\n<meta property=\"og:site_name\" content=\"inFundPros\" \/>\n<meta property=\"article:published_time\" content=\"2023-11-01T17:43:35+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-11-01T17:43:36+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/infundpros.com\/wp-content\/uploads\/2023\/10\/LYNXNPEB6U08A_L.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"533\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Press Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Press Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/infundpros.com\/?p=8218#article\",\"isPartOf\":{\"@id\":\"https:\/\/infundpros.com\/?p=8218\"},\"author\":{\"name\":\"Press Room\",\"@id\":\"https:\/\/infundpros.com\/#\/schema\/person\/87f7e632b195ea95c91503d9281f5eff\"},\"headline\":\"Ceridian outperforms Q3 expectations with 19.6% revenue increase\",\"datePublished\":\"2023-11-01T17:43:35+00:00\",\"dateModified\":\"2023-11-01T17:43:36+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/infundpros.com\/?p=8218\"},\"wordCount\":403,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/infundpros.com\/#organization\"},\"articleSection\":[\"Stocks\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/infundpros.com\/?p=8218#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/infundpros.com\/?p=8218\",\"url\":\"https:\/\/infundpros.com\/?p=8218\",\"name\":\"Ceridian outperforms Q3 expectations with 19.6% revenue increase | inFundPros\",\"isPartOf\":{\"@id\":\"https:\/\/infundpros.com\/#website\"},\"datePublished\":\"2023-11-01T17:43:35+00:00\",\"dateModified\":\"2023-11-01T17:43:36+00:00\",\"description\":\"\u00a9 Reuters. Ceridian (NYSE:), a cloud-based payroll and HR software provider has reported impressive financial results for Q3 FY2023, exceeding Wall Street\",\"breadcrumb\":{\"@id\":\"https:\/\/infundpros.com\/?p=8218#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/infundpros.com\/?p=8218\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/infundpros.com\/?p=8218#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/infundpros.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Ceridian outperforms Q3 expectations with 19.6% revenue increase\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/infundpros.com\/#website\",\"url\":\"https:\/\/infundpros.com\/\",\"name\":\"Fintech Advance\",\"description\":\"Latest Finance and Tech News and Updates\",\"publisher\":{\"@id\":\"https:\/\/infundpros.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/infundpros.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/infundpros.com\/#organization\",\"name\":\"Fintech Advance\",\"url\":\"https:\/\/infundpros.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/infundpros.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/infundpros.com\/wp-content\/uploads\/2023\/10\/tech-logo.png\",\"contentUrl\":\"https:\/\/infundpros.com\/wp-content\/uploads\/2023\/10\/tech-logo.png\",\"width\":409,\"height\":70,\"caption\":\"Fintech Advance\"},\"image\":{\"@id\":\"https:\/\/infundpros.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/infundpros.com\/#\/schema\/person\/87f7e632b195ea95c91503d9281f5eff\",\"name\":\"Press Room\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/infundpros.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/infundpros.com\/wp-content\/uploads\/2023\/10\/avatar_user_1_1697230663-96x96.png\",\"contentUrl\":\"https:\/\/infundpros.com\/wp-content\/uploads\/2023\/10\/avatar_user_1_1697230663-96x96.png\",\"caption\":\"Press Room\"},\"sameAs\":[\"https:\/\/infundpros.com\"],\"url\":\"https:\/\/infundpros.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Ceridian outperforms Q3 expectations with 19.6% revenue increase | inFundPros","description":"\u00a9 Reuters. Ceridian (NYSE:), a cloud-based payroll and HR software provider has reported impressive financial results for Q3 FY2023, exceeding Wall Street","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/infundpros.com\/?p=8218","og_locale":"en_US","og_type":"article","og_title":"Ceridian outperforms Q3 expectations with 19.6% revenue increase | inFundPros","og_description":"\u00a9 Reuters. Ceridian (NYSE:), a cloud-based payroll and HR software provider has reported impressive financial results for Q3 FY2023, exceeding Wall Street","og_url":"https:\/\/infundpros.com\/?p=8218","og_site_name":"inFundPros","article_published_time":"2023-11-01T17:43:35+00:00","article_modified_time":"2023-11-01T17:43:36+00:00","og_image":[{"width":800,"height":533,"url":"https:\/\/infundpros.com\/wp-content\/uploads\/2023\/10\/LYNXNPEB6U08A_L.jpg","type":"image\/jpeg"}],"author":"Press Room","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Press Room","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/infundpros.com\/?p=8218#article","isPartOf":{"@id":"https:\/\/infundpros.com\/?p=8218"},"author":{"name":"Press Room","@id":"https:\/\/infundpros.com\/#\/schema\/person\/87f7e632b195ea95c91503d9281f5eff"},"headline":"Ceridian outperforms Q3 expectations with 19.6% revenue increase","datePublished":"2023-11-01T17:43:35+00:00","dateModified":"2023-11-01T17:43:36+00:00","mainEntityOfPage":{"@id":"https:\/\/infundpros.com\/?p=8218"},"wordCount":403,"commentCount":0,"publisher":{"@id":"https:\/\/infundpros.com\/#organization"},"articleSection":["Stocks"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/infundpros.com\/?p=8218#respond"]}]},{"@type":"WebPage","@id":"https:\/\/infundpros.com\/?p=8218","url":"https:\/\/infundpros.com\/?p=8218","name":"Ceridian outperforms Q3 expectations with 19.6% revenue increase | inFundPros","isPartOf":{"@id":"https:\/\/infundpros.com\/#website"},"datePublished":"2023-11-01T17:43:35+00:00","dateModified":"2023-11-01T17:43:36+00:00","description":"\u00a9 Reuters. Ceridian (NYSE:), a cloud-based payroll and HR software provider has reported impressive financial results for Q3 FY2023, exceeding Wall Street","breadcrumb":{"@id":"https:\/\/infundpros.com\/?p=8218#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/infundpros.com\/?p=8218"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/infundpros.com\/?p=8218#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/infundpros.com\/"},{"@type":"ListItem","position":2,"name":"Ceridian outperforms Q3 expectations with 19.6% revenue increase"}]},{"@type":"WebSite","@id":"https:\/\/infundpros.com\/#website","url":"https:\/\/infundpros.com\/","name":"Fintech Advance","description":"Latest Finance and Tech News and Updates","publisher":{"@id":"https:\/\/infundpros.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/infundpros.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/infundpros.com\/#organization","name":"Fintech Advance","url":"https:\/\/infundpros.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/infundpros.com\/#\/schema\/logo\/image\/","url":"https:\/\/infundpros.com\/wp-content\/uploads\/2023\/10\/tech-logo.png","contentUrl":"https:\/\/infundpros.com\/wp-content\/uploads\/2023\/10\/tech-logo.png","width":409,"height":70,"caption":"Fintech Advance"},"image":{"@id":"https:\/\/infundpros.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/infundpros.com\/#\/schema\/person\/87f7e632b195ea95c91503d9281f5eff","name":"Press Room","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/infundpros.com\/#\/schema\/person\/image\/","url":"https:\/\/infundpros.com\/wp-content\/uploads\/2023\/10\/avatar_user_1_1697230663-96x96.png","contentUrl":"https:\/\/infundpros.com\/wp-content\/uploads\/2023\/10\/avatar_user_1_1697230663-96x96.png","caption":"Press Room"},"sameAs":["https:\/\/infundpros.com"],"url":"https:\/\/infundpros.com\/?author=1"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/infundpros.com\/index.php?rest_route=\/wp\/v2\/posts\/8218","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infundpros.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infundpros.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infundpros.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/infundpros.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=8218"}],"version-history":[{"count":1,"href":"https:\/\/infundpros.com\/index.php?rest_route=\/wp\/v2\/posts\/8218\/revisions"}],"predecessor-version":[{"id":8219,"href":"https:\/\/infundpros.com\/index.php?rest_route=\/wp\/v2\/posts\/8218\/revisions\/8219"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/infundpros.com\/index.php?rest_route=\/wp\/v2\/media\/1435"}],"wp:attachment":[{"href":"https:\/\/infundpros.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=8218"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infundpros.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=8218"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infundpros.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=8218"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}