Workday Headquarters Building

Workday’s headquarters building in Pleasanton, California

Workday rallies on positive comments from new investor Elliott, buyback boost, and analyst upgrade

The HR tech giant is winning Wall Street’s support as the company refreshes its growth playbook.

9/17/25 10:35AM

Workday shares jumped 8% Wednesday morning, leading S&P 500 gainers, as a slew of positive news pumped up the stock.

Activist investor Elliott Management revealed a $2 billion stake in the HR software giant, making it one of Workday’s largest shareholders. The firm praised the company’s leadership and strategy as signs of “substantial long-term value creation” for investors.

Adding to the momentum, Workday’s board authorized another $4 billion in share repurchases, bringing its total buyback plan to $5 billion through fiscal 2027. The company still has about $1.2 billion left from previous authorizations. Meanwhile, Piper Sandler bumped Workday up to “neutral” from “underweight” and lifted its price target to $235 from $220.

The firm cited the recent Workday Rising conference, saying the company has been leaning hard into AI by snapping up three startups in just the past month (Sana, Paradox, and Flowise). Workday also rolled out a new data cloud that plugs directly into Databricks, Snowflake, and Salesforce, giving it more reach in enterprise data.

Despite today’s lift, Workday shares are still down about 6% year to date.

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