On September 17, Workday rose 5.82% in regular trading, trading at $196.49/share, with turnover of $259 million. The move was driven by reports that Workday's privatization financing work continues to advance.

The latest development reinforces an ongoing take-private narrative that has been a key catalyst for Workday shares in recent weeks. Silver Lake Capital has reportedly been in discussions with Workday over a potential acquisition for several months, with the possibility of bringing in additional investors to co-finance the deal. Morgan Stanley previously noted that software stock valuations have fallen to levels attractive enough for private equity to re-engage. Following the initial acquisition reports, Workday's market capitalization climbed to approximately $49 billion.

Meanwhile, multiple investment banks have recently raised their price targets on Workday, with the consensus mean target standing at approximately $211. Barclays raised its target to $224, JPMorgan to $225, and Daiwa Securities to $230. The company's fiscal Q2 results showed adjusted EPS of $2.75, beating the $2.61 consensus by over 5%, while AI products accounted for more than 25% of new contract value. UBS, however, has expressed skepticism that a deal is actively being discussed.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)