Workday, Inc. - WDAY STOCK NEWS

Workday, Inc. (NASDAQ: WDAY) faces backlash from Rock & Roll icons, including Billy Idol and Ozzy Osbourne, for its use of the term 'rock star' in corporate contexts. These musicians argue the moniker should be reserved for those who earned it through significant contributions to music. The protest was sparked by Workday's new campaign, which celebrates its customers as 'rock stars' in the workplace. The campaign also features a Super Bowl advertisement airing on February 12, 2023. Workday's CMO acknowledged the distress caused by this terminology and pledged to use the phrase more thoughtfully in the future.

Workday, Inc. (NASDAQ: WDAY) announced that over 50% of the Fortune 500 retail organizations are utilizing its cloud solutions to enhance digital transformation. The company has introduced new AI/ML-driven demand forecasting features for its Workday Scheduling and Labor Optimization product, aimed at optimizing labor schedules and improving the frontline worker experience. Notable clients include Dave & Buster's and RaceTrac. Workday's solutions provide deeper financial insights, operational flexibility, and improve workforce management. Early adopters of the new features are expected to start deployments in H1 2023, indicating strong market momentum in retail.

Tecsys Inc. (TSX: TCS) has achieved Workday Certified Integration status, enhancing its integration with Workday Supply Chain Management (SCM) for Healthcare. This certification aims to provide healthcare organizations with improved visibility and efficiency in managing their supply chains. The integration facilitates seamless ordering and replenishment processes at customer sites like Prisma Health and Corewell Health, enabling real-time insights and streamlined workflows. This partnership positions Tecsys as a key player in optimizing supply chain solutions for the healthcare sector.

Workday, a leader in enterprise cloud applications, announced the appointment of Carl Eschenbach as co-CEO, effective immediately. He will serve alongside Aneel Bhusri, who will transition to a full-time executive chair role in January 2024. Chano Fernandez has stepped down as co-CEO and board member. Eschenbach brings over 35 years of tech leadership experience, having previously scaled VMware to over $7 billion in revenue. The company reaffirms its financial guidance for Q4 fiscal 2023 and preliminary outlook for fiscal 2024.

Workhuman, a certified software partner of Workday (NASDAQ: WDAY), has recertified its integration with Workday HCM to enhance employee recognition and workflow. This integration enables seamless participation in recognition, celebrations, and conversations directly within the Workday platform. It aims to streamline data flows for a financial services company with nearly 2,000 employees, improving data consistency and operational efficiency. Key features include configurable mappings and management of integration tasks, boosting HR insights and workplace culture.

Workday reported fiscal Q3 2023 results with total revenues of $1.60 billion, up 20.5% year over year, and subscription revenues of $1.43 billion, up 22.3%. Operating loss was $26.3 million, contrasting with $23.9 million in operating income in the same quarter last year. Non-GAAP basic net income per share dropped to $1.01 from $1.15. The company raised its fiscal 2023 subscription revenue guidance to $5.555 billion to $5.557 billion, reflecting 22% growth. Workday also announced a $500 million share repurchase program.

Workday (NASDAQ: WDAY) has announced a new share repurchase program, authorizing up to $500 million of its Class A common stock. This move reflects the company's belief that its shares are undervalued and demonstrates confidence in its business model and future growth prospects. The program aims to mitigate share dilution from employee stock issuances and will commence immediately, with stock purchases based on market conditions and other factors. The plan has an 18-month term and can be suspended or discontinued at any time.

Workday, Inc. (NASDAQ: WDAY) announced its recognition as a Leader for the seventh consecutive year in the Gartner Magic Quadrant for Cloud HCM Suites for 1,000+ Employee Enterprises. Positioned highest for overall Ability to Execute, Workday's HCM solutions cater to over 4,500 global customers, including more than 50% of the Fortune 500. The company focuses on enhancing skills development and employee engagement through innovative tools, analytics, and a unified workforce strategy, aiming to support diverse worker types and improve talent retention amidst a challenging labor market.