SAN FRANCISCO (MarketWatch) – Shares Workday Inc. soared Friday as the enterprise software company began trading on the New York Stock Exchange. The stock was trading up 73 % to $48.50 after pricing at $28 a share, above its proposed range of $24 to $26.
The Pleasanton, Calif.-based company’s initial public offering initially set a price range of $21-$24. Workday provides cloud-based software used by businesses to manage employee data and processes.
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Workday soars as IPO rides cloud trend