Workday shares jumped 9% in extended trading on Friday after S&P Dow Jones Indices said the cloud software vendor will be added to the S&P 500.
The S&P 500 has added several other prominent technology stocks this year, including Dell and Palantir .
Workday, founded in 2005 and based in Pleasanton, California, went public on the New York Stock Exchange in 2012.
While more tech companies have been joining the S&P 500, not all of them have proven to be money makers for investors who buy index funds.
Server maker Super Micro was added to the S&P 500 in March after a huge rally in the stock, driven by demand for Nvidia -based servers.
Persons:
Dow, Carl Eschenbach, Aneel Bhusri, Eschenbach, Stocks, they're
Organizations:
Dow Jones, Amentum Holdings, Dell, New York Stock Exchange, Nasdaq, VMware, Sequoia Capital, Nvidia, Super Micro
Locations:
Pleasanton , California, U.S