Relaunching Coverage of Workday; Raising Fair Value Estimate to $90, Lowering Uncertainty to High
We are relaunching coverage of software-as-a-service vendor Workday. As a native-cloud vendor in the enterprise resource planning market, we believe Workday is a worthy opponent to Oracle and SAP, legacy firms that are racing to transition on-premises customers to their own cloud-based software products. We are maintaining our narrow moat and positive moat trend ratings, and we are raising our fair value estimate to $90 per share from $85 as we refine our growth expectations for Workday in the b...Workday is a provider of enterprise cloud applications for finance and human resources. The company's products include: Workday Financial Management, an application with financial capabilities, analytics and metrics, and auditable process management; and Workday Human Capital Management, which includes global human resources management (workforce lifecycle management, organization management, compensation, absence, and employee benefits administration) and global talent management (goal management, performance management, succession planning, and career and development planning). The company's other solutions include Adaptive Insights Business Planning Cloud, as well as Workday Data-as-a-Service.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
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