The Supreme Court’s decision to allow more time for counting mail-in ballots has pushed election rules back into the spotlight, and a handful of stocks are closely tied to how those rules are applied on the ground. When voting procedures feel more settled, attention can shift to the companies that help run elections, verify identities, and process ballots. This article looks at three stocks from the Election Technology and Services screener that are directly exposed to the latest mail-in voting headlines, and explores how this ruling, and the political pushback around it, could shape their risk and return profile.

NV5 Global (NVEE)

Overview: NV5 Global is an engineering and consulting company that helps governments and businesses plan, design, test, and manage critical infrastructure, buildings, environmental projects, and geospatial data, often acting as a technical backbone for complex programs.

Market Cap: US$1.51b

NV5 Global stands out in the Election Technology and Services context because its engineering, geospatial, and compliance work sits close to the plumbing of government infrastructure, including areas that touch election logistics and mail-in ballot processing, at a time when the Supreme Court’s mail voting decision is reducing immediate rule uncertainty but keeping future policy risk alive. The company has been reporting stronger consulting and engineering activity, winning new municipal and energy infrastructure contracts, and expanding through acquisitions in civil and digital project delivery, which together support an expanding advisory footprint. Earnings growth has been strong relative to the wider professional services industry, although the P/E of 43.3x and reliance on external borrowing mean investors need to weigh quality and growth potential against funding and valuation risk that are not fully captured by headline forecasts.

NV5 Global’s expanding consulting footprint and rich 43.3x P/E hint that the market may be pricing in more than just steady contracts, so it is worth seeing how the DCF valuation analysis for NV5 Global lines up with the funding risk that could change the story abruptly.

Dayforce (DAY)

Overview: Dayforce is a human capital management software company that provides a cloud platform for HR, payroll and tax, workforce management, benefits, and talent tools, along with payroll services and time-clock hardware, helping organizations run core people and pay processes in one system.

Operations: Dayforce generates virtually all of its US$1.89b in revenue from its Human Capital Management segment, centered on its unified cloud HCM platform.

Market Cap: US$11.03b

Investors watching the Election Technology and Services theme may find Dayforce interesting because its HCM platform is already embedded in compliance heavy workflows, which extends naturally into secure voter data handling and automated election processes as governments look for scalable digital tools. Recurring revenue from enterprise customers, high retention, and growing attachment of AI driven modules contribute to a clearer earnings path, while new pilots with state and local election offices give the company a direct link to the current mail in voting debate. At the same time, the stock carries execution and valuation risk, with ongoing losses, a premium P/S multiple, and intense competition, so the key question is whether its contract pipeline and regulatory expertise justify those expectations.

Dayforce’s recurring revenue story and premium P/S multiple suggest investors may be missing a key angle in its election pipeline, so it is worth reviewing the analyst forecasts for Dayforce to see what the market might be underpricing.

Ricardo (LSE:RCDO)

Overview: Ricardo is a UK based consultancy and engineering company that helps governments and industries design, test, and manage complex systems, from clean energy and environmental projects to rail safety, automotive powertrains, defence solutions, and high performance components.

Operations: Ricardo generates most of its revenue from consultancy and engineering work in Energy & Environment (£101.8m), Performance Products (£85.8m) and Rail (£78.1m). It also generates revenue from Automotive and Industrial established (£39.4m) and emerging (£50.3m) segments, along with a small inter segment adjustment and sales.

Market Cap: £268m

Ricardo gives you exposure to government backed infrastructure, energy transition and security projects at a time when election system integrity and critical infrastructure resilience are firmly on the agenda. Its record order book in Energy & Environment and Rail, together with UK government support for projects such as the AMBERS advanced battery programme, indicates a business that is focusing more on higher margin, recurring work rather than one off legacy automotive contracts. At the same time, the stock is still loss making, has an unstable dividend history and relies fully on higher risk external funding, with governance questions around board turnover and independence. For investors who can tolerate these pressures, the combination of low P/S, a potential return to profitability and election related resilience consulting could be an area to analyse further.

Ricardo’s shift toward higher margin, recurring work could be masking something investors have not fully priced in. It is therefore worth reading the analysis report for Ricardo to see what the order book and funding mix might really be hinting at.

The three stocks covered here are just a starting point, and the full Election Technology and Services screen on Simply Wall St surfaces 9 more companies with equally compelling stories that sit at different points in the election and identity value chain, all accessible through the Election Technology and Services screener. Use the screener to identify, analyze, and filter for the specific catalysts and narratives discussed here so you can focus on the election related opportunities that best match your own highest conviction ideas.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.