A close-up of the Workday logo at its Pleasanton, California headquarters.
Smith Collection | Archive Photos | Getty Images
working days Shares of the cloud software provider rose nearly 10% in after-hours trading on Friday after S&P Dow Jones Indices said it would be added to the S&P 500.
it will replace cattle holdings The index takes effect on December 23, based on statement.
The index also includes a number of other indicators Well-known technology stocks This year, including Dell and Palantir.
Founded in 2005 and headquartered in Pleasanton, California, Workday listed on the New York Stock Exchange in 2012.
November, working days $193 million delivered Quarterly revenue was US$2.16 billion, and net profit increased by 16% year-on-year.
Workday has reported losses in each fiscal year through 2022. Inflation and higher interest rates have made investors less interested in backing unprofitable companies, and many software executives know they must reduce costs.
To qualify for inclusion in the famous U.S. index, companies need to show profits for the most recent quarter, as well as profits for the four most recent quarters.
In February this year, former VMware chief operating officer and Sequoia Capital investor Carl Eschenbach became Workday’s sole CEO since the end of 2022, after serving as co-CEO with co-founder Aneel Bhusri.
It’s normal for stocks to move higher on news of entry into an important index, as fund managers need to rebalance their portfolios to reflect index changes.
While more technology companies are joining the index, not all are proving to be money-making opportunities for investors who track the benchmark. Server manufacturer Super Micro was additional The stock entered the S&P 500 after a sharp rise in March, driven by demand NVIDIAServer based.
The stock peaked shortly thereafter, only to plummet over the next few months as the company failed to file financial reports on time. The stock is now down about 60% from its peak, the company said on Friday. received an extension Listing continues from Nasdaq.
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