July 31 (Reuters) - Dayforce ( DAY ) raised its

full-year revenue forecast on Wednesday, banking on robust

demand for its payroll and human capital management services,

sending its shares up 8% in premarket trading.

Strong client spending on the company's flagship Dayforce ( DAY )

platform that provides services such as cloud-based human

resource management, recruiting and payroll processing boosted

its second-quarter recurring revenue 20% to $321.6 million.

Heavy investment in artificial intelligence has also helped

the company compete with larger players such as Workday

and Automatic Data Processing ( ADP ).

"Our strong results are translating into improved cash flow

generation, prompting our Board of Directors to approve a $500

million share repurchase program," CFO Jeremy Johnson said.

Dayforce ( DAY ) expects fiscal 2024 revenue between $1.74 billion

and $1.75 billion, above its prior view of $1.73 billion to

$1.74 billion.

However, its third-quarter topline forecast of $425 million

to $430 million was below analysts' average estimate of $430.7

million, according to LSEG data.

Its second-quarter revenue rose 15.7% to $423.3 million from

a year ago, exceeding expectations of $417.5 million.

But the company reported a net loss of 1 cent per share,

compared with a net income of 2 cents a year ago.