Anyone remember Peoplesoft (PSFT)? If so, you remember when Larry Ellison from Oracle took control of them via ‘hostile takeover.” I have many clients in the consulting space who still talk about that deal and how Larry essentially bought PSFT just to put them out of business.
Well, the founder and many top execs are running a new company now called Workday (WDAY).
I won’t bore you with details that I don’t understand myself. However, what I will share with you is insight from people in the industry who are experts in this sort of crap (the smartest people I know at the top of the consulting world): they love WDAY. From a management perspective, the good folks from PSFT perfecting the art of under promise/over deliver. If history is of any use, WDAY will be trading higher for the next several years, in a very methodical, almost clandestine fashion.
I own it for some long term accounts and will not consider selling it.
Here’s some background on WDAY.