Mizuho Securities Reiterates Buy Rating on Workday (WDAY)

Mizuho Securities analyst Siti Panigrahi reiterated a Buy rating and $225.00 price target on Workday (NASDAQ: WDAY) following the company's announced intentions to acquire Scout RFP for ~$540 million in cash. The transaction is expected to close in FQ4. Workday did not disclose the amount of revenue Scout RFP generates.

The acquisition will materially bolster Workday's current procurement offering, as part of its broader financials portfolio. This acquisition adds strategic sourcing and procurement to Workday's existing procure-to-pay suite.

For an analyst ratings summary and ratings history on Workday click here. For more ratings news on Workday click here.

Shares of Workday closed at $165.19 yesterday.

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