Latest news with #DavidOssip
Yahoo
7 days ago
- 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.
Hamilton Spectator
07-05-2025
- Business
- Hamilton Spectator
Dayforce Reports First Quarter 2025 Results¹
Dayforce® recurring revenue, excluding float, of $323 million, up 14%, or 16% on a constant currency basis Total revenue of $482 million, up 12%, and excluding float, up 15%, or 17% on a constant currency basis Net cash provided by operating activities of $50 million MINNEAPOLIS and TORONTO, May 07, 2025 (GLOBE NEWSWIRE) — Dayforce, Inc. ('Dayforce' or the 'Company') (NYSE:DAY) (TSX:DAY), a global leader in human capital management ('HCM') technology, today announced its financial results for the first quarter ended March 31, 2025. 'We kicked off the year with strong first quarter results and excellent sales momentum,' said David Ossip, Chair and CEO of Dayforce. 'The Dayforce value proposition of consolidating multiple separate technologies into the single Dayforce platform continues to resonate with organizations across a broad range of industries and sizes. Our first quarter sales growth builds on our already strong fourth quarter sales performance, reinforcing our optimism for continued momentum through 2025 and beyond as we further our HCM leadership position.' 'Our plan to deliver durable top line growth alongside increasing profitability and cash flow is progressing well,' said Jeremy Johnson, CFO of Dayforce. 'With cash from operating activities of nearly $50 million in the first quarter, we were able to repurchase approximately $30 million worth of shares during the quarter under our $500 million repurchase program. To date we have returned more than $66 million of capital to stockholders under this program.' Financial Highlights for the First Quarter 20251 Supplemental Detail 1 The financial highlights are on a year-over-year basis, unless otherwise stated. All financial results are reported in United States ('U.S.') dollars and in accordance with accounting principles generally accepted in the U.S. ('GAAP'), unless otherwise stated. 2 Excluding Ascender, ADAM HCM, and eloomi. 3 Excluding float revenue, Ascender, ADAM HCM, and eloomi revenue, and on a constant currency basis. Please refer to the 'Non-GAAP Financial Measures' section for discussion of percentage change in revenue on a constant currency basis. Recent Highlights Business Outlook Based on information available as of May 7, 2025, Dayforce is issuing the following guidance for the second quarter and full year ('FY') of 2025 as indicated below. Comparisons are on a year-over-year basis, unless stated otherwise. Second Quarter 2025 Guidance Full Year 2025 Guidance Please refer to the 'Reconciliation of GAAP to Non-GAAP Financial Measures' section for a reconciliation of Dayforce's free cash flow margin guidance. Dayforce has not reconciled the Adjusted EBITDA margin ranges for the second quarter and full year of 2025 to the directly comparable GAAP financial measures because applicable information for the future period, on which these reconciliations would be based, is not available without unreasonable efforts due to uncertainty regarding, and the potential variability of, depreciation and amortization, share-based compensation expense and related employer taxes, changes in foreign currency exchange rates, and other items. Foreign Exchange For the second quarter and full year of 2025, Dayforce's guidance assumes an average U.S. dollar to key foreign currencies as follows: Conference Call Details Dayforce will host a live webcast and conference call to discuss the first quarter 2025 earnings at 8:00 a.m. Eastern Time on May 7, 2025. Those wishing to participate via the webcast should access the call through the Investor Relations section of the Dayforce website. Those wishing to participate via the telephone may dial in at 877-497-9071 (USA) or 201-689-8727 (International). The webcast replay will be available through the Investor Relations section of the Dayforce website. About Dayforce Dayforce makes work life better. Everything we do as a global leader in HCM technology is focused on enabling thousands of customers and millions of employees around the world do the work they're meant to do. With our single AI-powered people platform for HR, Pay, Time, Talent, and Analytics, organizations of all sizes and industries are benefiting from simplicity at scale with Dayforce to help unlock their full workforce potential, operate with confidence, and realize quantifiable value. To learn more, visit . Forward-Looking Statements This press release contains forward-looking statements that are subject to risks and uncertainties. All statements other than statements of historical fact or relating to present facts or current conditions included in this press release are forward-looking statements. Forward-looking statements give Dayforce's current expectations and projections relating to its financial condition, results of operations, plans, objectives, future performance, and business. Users can identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. Forward-looking statements in this press release include statements relating to the second quarter and full year of 2025, as well as those relating to future growth initiatives. These statements may include words such as 'anticipate,' 'estimate,' 'expect,' 'assume', 'project,' 'seek,' 'plan,' 'intend,' 'believe,' 'will,' 'may,' 'could,' 'continue,' 'likely,' 'should,' and other words and terms of similar meaning in connection with any discussion of the timing or nature of future operating or financial performance or other events, but not all forward-looking statements contain these identifying words. The forward-looking statements contained in this press release are based on assumptions that Dayforce has made in light of its industry experience and its perceptions of historical trends, current conditions, expected future developments and other factors that it believes are appropriate under the circumstances. As users consider this press release, it should be understood that these statements are not guarantees of performance or results. These assumptions and Dayforce's future performance or results involve risks and uncertainties (many of which are beyond its control). In particular: Although Dayforce has attempted to identify important risk factors, additional factors or events that could cause Dayforce's actual performance to differ from these forward-looking statements may emerge from time to time, and it is not possible for Dayforce to predict all of them. Should one or more of these risks or uncertainties materialize, or should any of Dayforce's assumptions prove incorrect, its actual financial condition, results of operations, future performance, and business may vary in material respects from the performance projected in these forward-looking statements. In addition to any factors and assumptions set forth above in this press release, the material factors and assumptions used to develop the forward-looking information include, but are not limited to: the general economy remains stable; the competitive environment in the HCM market remains stable; the demand environment for HCM solutions remains stable; Dayforce's implementation capabilities and cycle times remain stable; foreign exchange rates, both current and those used in developing forward-looking statements, specifically U.S. dollar to Canadian dollar, remain stable at, or near, current rates; Dayforce will be able to maintain its relationships with its employees, customers, and partners; Dayforce will continue to attract qualified personnel to support its development requirements and the support of its new and existing customers; and that the risk factors noted above, individually or collectively, do not have a material impact on Dayforce. Any forward-looking statement made by Dayforce in this press release speaks only as of the date on which it is made. Dayforce undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law. Dayforce, Inc. Condensed Consolidated Balance Sheets (Unaudited) Dayforce, Inc. Condensed Consolidated Statements of Operations (Unaudited) Dayforce, Inc. Condensed Consolidated Statements of Cash Flows (Unaudited) Dayforce, Inc. Revenue Financial Measures (Unaudited) a) Dayforce has calculated the percentage change in revenue on a constant currency basis by applying the average foreign exchange rate in effect during the comparable prior period. Please refer to the 'Non-GAAP Financial Measures' section for discussion of percentage change in revenue on a constant currency basis. Dayforce, Inc. Share-Based Compensation Expense and Related Employer Taxes (Unaudited) Dayforce, Inc. Reconciliation of GAAP to Non-GAAP Financial Measures (Unaudited) The following tables reconcile Dayforce's reported results to its non-GAAP financial measures: a) Operating profit margin and net profit margin are determined by calculating the percentage operating profit and net income are of total revenue. Please refer to the 'Non-GAAP Financial Measures' section for additional information on the as adjusted margins. b) The as adjusted column is a non-GAAP financial measure, adjusted to exclude share-based compensation expense and related employer taxes, amortization of acquisition-related intangible assets, and certain other items. For the three months ended March 31, 2025, the adjustments to operating profit consist of $26.6 million of restructuring expenses and the adjustments to net income also include $5.3 million of costs associated with the planned termination of its frozen U.S. pension plan, $2.1 million of foreign exchange gain, and a $25.5 million net adjustment for the effect of income taxes related to these items. For the three months ended March 31, 2024, the adjustments to operating profit consist of $2.0 million of restructuring expenses and the adjustments to net income also include $6.2 million of foreign exchange loss, $3.2 million of costs associated with the planned termination of its frozen U.S. pension plan, and a $16.9 million net adjustment for the effect of income taxes related to these items. Please refer below for additional information on the as adjusted metrics. c) Income tax effects have been calculated based on the statutory tax rates in effect in the U.S. and foreign jurisdictions during the period. Dayforce, Inc. Reconciliation of Free Cash Flow (Unaudited) The following table reconciles Dayforce's reported results to free cash flow and free cash flow margin: The following table reconciles Dayforce's free cash flow and free cash flow margin guidance: (a) Operating cash flow margin is determined by calculating the percentage that operating cash flow is of total revenue. (b) Free cash flow margin is determined by calculating the percentage that free cash flow is of total revenue. Dayforce, Inc. Reconciliation of Reclassification of Depreciation and Amortization (Unaudited) Beginning in 2025, Dayforce reclassified depreciation and amortization in its condensed consolidated statements of operations into a single financial statement line item. Application of this change is being made on a retrospective basis. The following presents the line items in which depreciation and amortization were previously included for the periods presented: Non-GAAP Financial Measures Dayforce uses certain non-GAAP financial measures in this release including: Dayforce believes that these non-GAAP financial measures are useful to management and investors as supplemental measures to evaluate its overall operating performance including comparison across periods and with competitors. Dayforce's management team uses these non-GAAP financial measures to assess operating performance because these financial measures exclude the results of decisions that are outside the normal course of its business operations, and are used for internal budgeting and forecasting purposes both for short- and long-term operating plans. Additionally, Adjusted operating profit, free cash flow, and free cash flow margin are components of certain management compensation plans. Additionally, Dayforce believes that the non-GAAP financial measures free cash flow and free cash flow margin are meaningful to investors because they are measures of liquidity that provides useful information in understanding and evaluating the strength of Dayforce's liquidity and future ability to generate cash that can be used for strategic opportunities or investing in its business. The reduction of capital expenditures facilitates comparisons of Dayforce's liquidity on a period-to-period basis and excludes items that management does not consider to be indicative of Dayforce's liquidity. These non-GAAP financial measures are not required by, defined under, or presented in accordance with, GAAP, and should not be considered as alternatives to Dayforce's results as reported under GAAP, have important limitations as analytical tools, and its use of these terms may not be comparable to similarly titled measures of other companies in its industry. Dayforce's presentation of non-GAAP financial measures should not be construed to imply that its future results will be unaffected by similar items to those eliminated in this presentation. Please refer to Dayforce's full financial results, including further discussion of non-GAAP financial measures, on the Investor Relations portion of its website at . Dayforce defines its non-GAAP financial measures as follows: Source: Dayforce, Inc. For further information, please contact: Investor Relations 1-844-829-9499 investors@ Public Relations 1-647-417-2117
Yahoo
12-02-2025
- Health
- Yahoo
'I'll kill them': outrage at nurses' anti-Israeli taunt
Two nurses face criminal and health prosecutions over "sickening" claims Israeli patients at Australian hospitals would be denied treatment or killed. The comments, which emerged in a video on social media, have triggered condemnation from political, medical and community leaders and sparked urgent audits of patient care at the nurses' workplace. In a video shared by an Israeli influencer, one nurse in a NSW Health uniform boasts of sending Israeli patients to hell while another says "I won't treat them, I'll kill them." Prime Minister Anthony Albanese said it was "very clear to me" the pair had committed crimes and he hoped they faced the full force of the law. "The comments are vile, the footage is sickening and it is shameful," he said. The Jewish community - already on edge after a sharp rise in violent anti-Semitic attacks - said any failure to lay charges against the nurses with existing laws would highlight the need for reform to outlaw the behaviour. "It is of profound concern that individuals can ... scandalously claim that they have killed seven patients, just because they are Israeli, and that that could be within the confines of the law," NSW Jewish Board of Deputies president David Ossip said. Any health workers in any way sympathetic to the nurses' "vile and offensive" faith-based behaviour should quit immediately, NSW Health Minister Ryan Park said. "Don't bother turning up for work tomorrow, because you're not welcome," he said. "I don't want you a part of our health system." His executives overseeing 180,000 staff rapidly identified the pair hours after they appeared in footage posted online. The two nurses, who completed a night shift on Wednesday morning, were captured using a website for random video chats when they spoke with an Israeli influencer. The male nurse, later identified as an Australian citizen and Afghan refugee with six years of nursing experience, falsely claimed he was a doctor and told the Israeli man he was "going to go to" hell. "It's Palestine's country, not your country," a female nurse said before detailing how she'd approach Israeli patients. "I won't treat them, I'll kill them." "You have no idea how many Israeli (sic) ... came to this hospital and ... I send them to (hell)," the man said. A task force targeting anti-Semitism was investigating the threats made in the video, NSW police said. Security footage was being reviewed and staff had been interviewed. "It is crucial police are given time to conduct further interviews and navigate this high-level investigation," Police Commissioner Karen Webb said. The state health worker watchdog was also investigating. NSW's top health bureaucrat suggested the male nurse faced issues with posing as a doctor, let alone hate speech and workforce policy breaches. "Everything that you can imagine in my view has been breached," NSW Health secretary Susan Pearce said. "I offer my sincere apologies." An initial investigation of incidents and safety issues found no indication the claims that Israeli patients had been denied treatment or killed were true. But a more thorough investigation is underway. Practitioners were bound by a code of conduct to care for all people, NSW Nurses and Midwives' Association acting general secretary Michael Whaites said. "As a union representing the professions of nursing and midwifery we stand for peace, we stand for love, and we defend the global human right to healthcare," he said. Liberal MP Kellie Sloane, who holds the shadow health portfolio and represents an area with a large Jewish population, said the community was facing violence in the streets, schools and daycare centres. "To see it in a hospital, where they are at their most vulnerable, is particularly chilling," she said. She was however forced to defend comments that "when you see stuff like is happening in our hospitals, it's like deport them". Ms Sloane said she was not specifically referencing the two nurses, who were later identified as Australian citizens.
