Workday Adds $4 Billion to Stock Buyback
By Colin Kellaher
Workday's board has added $4 billion to the human-resources software provider's stock-buyback program, on the heels of a $1.1 billion deal to buy artificial-intelligence startup Sana and an endorsement from activist investor Elliott Investment Management.
Workday, which had around $1.2 billion available for share repurchases as of July 31, said it plans to buy back about $5 billion worth of stock through fiscal 2027.
The Pleasanton, Calif., company had about 217 million Class A shares outstanding as of Aug. 20 and sports a market capitalization of nearly $58.5 billion.
Elliott late Tuesday disclosed a more than $2 billion stake in Workday and called the company "a unique software franchise with industry-leading growth potential, best-in-class customer retention and a proven management team."
Workday earlier Tuesday said it is buying Sana, which is focused on workplace tools, as part of a broader push to offer companies and their employees AI services.
Workday shelled out $592 million to buy back more than 2.5 million shares in the first half of its fiscal year 2026, which ends in January.
Shares of Workday, which closed Tuesday at $219.01, were recently up 5.9% at $232 in premarket trading.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
September 17, 2025 06:51 ET (10:51 GMT)
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