Ceridian HCM Holdings now has a new name and ticker symbol.
One of Minnesota’s newer public companies has a new name, Dayforce
Ceridian has rebranded to match its most popular human resources software program.
The Minnesota Star Tribune
February 7, 2024 at 5:32PM
The Bloomington-based company, one of Minnesota’s newer public companies, is now Dayforce and trading under the symbol DAY.
Dayforce is the name of its dominant product, a human resources management software program.
The corporate name officially changed Jan. 31 to Dayforce Inc. and on Feb. 1 the company’s ticker symbol officially changed from CDAY to DAY.
On Wednesday, the company said it earned $45.6 million, or 29 cents a share in the fourth quarter. That’s a big change from the same period last year, when it lost $5.2 million, or 3 cents a share. Revenue increased 19% to $399.7 million.
Sales for the Dayforce software grew even more: They were up 30% to $292.1 million.
“Dayforce delivered another strong quarter underpinned by record enterprise go-lives and operating cash flows,” David Ossip, chairman and chief executive of Dayforce, said in a news release.
Ceridian Corp. was a company that grew out of the pioneering computer company Control Data. A provider of software and other services that helped companies manage their human resource, benefits and payment functions, Ceridian acquired the Toronto-based Dayforce Corp. in 2012.
By 2018, it had changed its name to Ceridian HCM Holdings and completed a successful private offering and initial public offering that raised about $630 million.
The Dayforce product soon became the major source of revenue for the company and for full year 2023 it accounted for approximately 73% of the company’s total sales.
In addition to its financial results, Dayforce announced that it has completed the acquisition of Eloomi A/S, an experience platform software provider based in Copenhagen, Denmark, and Orlando, Fla.
“The acquisition of Eloomi marks a significant milestone for our company as it serves to further our leadership in talent development, and better position Dayforce as the all-in-one HCM solution for organizations around the world,” Joe Korngiebel, the company’s chief product and technology officer, said in a news release.
U President Rebecca Cunningham is continuing to push a concept the Minneapolis-based Fairview health system rejected earlier this week.
