Dayforce Inc DAY provides a natively constructed platform that might drive extra offers by human capital administration companions, a Needham analyst says.
The Dayforce Analyst: Analyst Scott Berg maintained a Purchase score and worth goal of $95.
The Dayforce Thesis: The corporate sometimes wins in aggressive bids because of the excessive ease of use of its naively constructed full suite, which seems like “a single answer,” Berg stated within the observe.
Dayforce, which just lately did enterprise as Ceridian earlier than rebranding, supplies cloud-based instruments that assist companies handle HR, payroll, workforce administration, and expertise administration.
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“Our associate believes Dayforce performs finest within the 500+ worker vary with specific power in 500-1,000 worker corporations however does work with some bigger firms together with one within the Fortune 10,” he wrote.
New module curiosity is more likely to drive realized PEPM (per worker monthly) development, the analyst said.
“General, the commentary helps our view on how DF ought to be capable to develop DF recurring revenues in no less than the low double-digit vary for a number of years,” he added.
Worth Motion: Shares of Dayforce had risen by 0.31% to $55.31 on the time of publication on Monday.
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Picture: Courtesy of Dayforce
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