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Why Ceridian Stock Spiked Today

·2 min read
Why Ceridian Stock Spiked Today

Shares of Ceridian HCM Holding Inc. (NYSE: CDAY), a human capital software company, were climbing today after the company's second-quarter results beat analysts' consensus top- and bottom-line estimates. Ceridian's non-GAAP (generally accepted accounting principles) earnings of $0.21 per share -- up from $0.12 in the year-ago quarter -- were also far ahead of analysts' consensus estimate of $0.11 per share. "In the second quarter, we continued to execute well against both our growth and profitability objectives, as driven by the growth of Dayforce recurring revenue and continued expansion of cloud recurring gross margin," Ceridian's Co-CEO David Ossip said in a press release.