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Fly News Breaks for February 20, 2020
PAYC, PCTY, WDAY
Feb 20, 2020 | 13:26 EDT
Stifel analyst Brad Reback notes that privately-held Ultimate Software and Kronos announced that the two companies have agreed to merge via an all-stock transaction. Since the Ultimate acquisition was just announced over a year ago, the analyst has felt that combining Ultimate and Kronos's respective product offerings under the joint ownership structure of Hellman & Friedman would make long-term strategic sense as it would create a single company that could more effectively address all aspects of the HCM spectrum. More importantly, Reback believes this deal clearly demonstrates the strong secular demand for more modernized, cloud-based HCM solutions, which should help to drive healthy sustained, double-digit top-line growth for the likes of Paycom (PAYC), Paylocity (PCTY), and Workday (WDAY).
News For PAYC;PCTY;WDAY From the Last 2 Days
WDAY
May 28, 2020 | 06:44 EDT
RBC Capital analyst Alex Zukin raised the firm's price target on Workday to $200 from $194 and keeps an Outperform rating on the shares. The company's Q1 results were "largely better than feared", offering a stronger margin outlook and disclosing strategic partnerships that may open "new incremental opportunities" and strengthen its competitive positioning, the analyst tells investors in a research note. Zukin sees more rebound potential for Workday beyond the low-teen backlog and billings trend expected in the second half of the year, as post-COVID deals start closing.
WDAY
May 28, 2020 | 05:19 EDT
Stifel analyst Brad Reback raised the firm's price target on Workday to $190 from $174 and keeps a Hold rating on the shares. Workday's shares traded up 6% last night as the company's Q1 subscription revenue exceeded expectations and its updated guidance was not as bad as feared, Reback tells investors in a post-earnings research note. The analyst believes Workday's future financial results should benefit from "fairly stable" renewal rates within its enterprise customer base and "healthy" up-sell activity.
WDAY
May 27, 2020 | 19:08 EDT
Check out this evening's top movers from around Wall Street, compiled by The Fly. UP AFTER EARNINGS... To see the rest of the story go to thefly.com. See Story Here
WDAY
May 27, 2020 | 16:13 EDT
Microsoft (MSFT) and Workday (WDAY) announced a strategic partnership prioritizing enterprise planning in the cloud and expanding the business solutions customers can use to better optimize their everyday work. Through this partnership, Workday customers will also be able to run Workday Adaptive Planning on the Microsoft Azure cloud. Further, Microsoft will adopt Workday Adaptive Planning for its global finance teams for planning, budgeting, and forecasting to help accelerate decision making. The companies also unveiled new integrations between Workday's suite of applications and Microsoft Teams and Azure Active Directory.
WDAY
May 27, 2020 | 16:11 EDT
Workday (WDAY) announced plans to further integrate Workday and Salesforce (CRM). The companies will offer integrated solutions between Workday and Salesforce's Work.com, an all-new suite of applications and advisory resources to help business and community leaders around the world reopen safely.