Jim Cramer Calls Workday an Enterprise Software Powerhouse

Workday, Inc. (NASDAQ:WDAY) is one of the stocks Jim Cramer recently shared his thoughts on. Cramer discussed the company in light of Elliott Management buying a huge stake in the company. He stated:

“Look at this incredible run in the stock of Workday, the enterprise software powerhouse that helps businesses with human resources and financial planning. Like so many other enterprise software plays, Workday’s had a tough year, but today turned out to be a very good day for the stock, up more than 7% in response to the company’s annual Workday Rising customer event in San Francisco this week, but also their financial analyst day. By the way, we also got some big AI announcements and acquisitions, bunch of number, of new partnerships. Really, some fantastic things. And we found out about all of these at the analyst day that was done alongside their conference. Then, after the close yesterday, we learned that the genius activist investors at Elliott Management had taken up a big $2 billion-plus stake in the company. Unusually, Elliot simply announced a stake and gave a public vote of confidence in Workday’s management. I like that.”

Workday, Inc. (NASDAQ:WDAY) delivers cloud-based enterprise applications for finance, HR, planning, analytics, and supply chain, helping organizations streamline operations and gain real-time insights.

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Disclosure: None. This article is originally published at Insider Monkey.