Is Ceridian HCM Holding Stock Halal?

Is Ceridian HCM Holding Stock Halal?

How much of Ceridian’s revenue comes from haram?

Ceridian is a global human capital management software company.

The company operates through the following segments:

  • Recurring Revenue:

Includes revenue generated from charging fees to use its Cloud solutions, including Dayforce, Powerpay, and Bureau.

Dayforce offers global HR (streamlining and automating administrative tasks), payroll, benefits, workforce management, and talent management solutions on web and native iOS and Android platforms.

Powerpay is a cloud platform that provides Payroll and HR solutions that enables clients to pay their employees accurately and on time.

Bureau offers payroll and payroll-related services using legacy technology and acquired technology from Ceridian’s acquisition of Excelity Global Solutions Pte. Ltd.

  • Professional Services & Other:

Includes revenue generated from assisting customers with the planning, design, and implementation of Ceridian’s cloud-based solution.

The contributions from each of Ceridian’s revenue segments in their 2020 annual report were as follows:

Practical Islamic Finance concludes:

None of Ceridian’s revenue comes from anything inherently haram.

Does Ceridian rely on interest to operate?

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What is Ceridian’s Environmental, Social, and Governance (ESG) impact?

Environment

No notable environmental highlights.

Social

In 2020, the Ceridian Cares Foundation raised over $1.2 million for communities, including $720,000 from employee donations and nearly $400,000 from Ceridian.

Ceridian has a Glassdoor rating of 4.0 out of 5.0 from over 2,000 current and previous employees compared to a 3.3 average for all other Glassdoor rated companies.

Governance

No notable governance highlights.

Practical Islamic Finance concludes:

Ceridian has a net positive ESG impact.

Comfort Rating

From Ceridian’s business, financial, and ESG reviews, Practical Islamic Finance rates Ceridian stock as:

Comfortable to invest in from a Halal perspective.

Sources

Ceridian Reviews 

2020 ESG Report 

Ceridian Q2 2021 10-Q

Ceridian 2020 10-K  

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