The Ratings Game: Workday stock ends at record high as outlook points to healthy enterprise software demand

Workday Inc. shares closed at a record high Friday after the cloud-software company’s strong outlook and beat on earnings Thursday pointed to better-than-expected demand for enterprise software.

Workday WDAY, +12.87% shares surged 12.9% to close at an all-time high of $164, their best day since March 1, 2016, after touching an intraday record of $166.19. In comparison, both the S&P 500 index SPX, +0.82% and the tech-heavy Nasdaq Composite Index SPX, +0.82% finished up 0.8%, while the iShares North American Tech-Software ETF IGV, +1.16% gained 1.2%. For the year, Workday shares are up 61.2%, compared with a 3.2% gain in the S&P 500, a 6.2% advance in the Nasdaq, and a 20.1% gain in the IGV ETF.

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