Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Index Rebalance

<ul>
<li>The S&amp;P 500 index tracks the 500 largest names listed in the US and it is one of the most highly-tracked indices in the world.</li>
<li>The index is reviewed quarterly. The next review will be in March 2024 and the evaluation date for the rankings for the constituent selection process is 29th February 2024.</li>
<li>In this insight, we take a look at Potential ADDs and Potential DELs for the rebalance. We estimate US$13.1bn one-way flow on 3 ADDs and 3 DELs.</li>
</ul>


The S&amp;P 500 index tracks the 500 largest names listed in the US and it is one of the most highly-tracked indices in the world.
The index is reviewed quarterly. The next review will be in March 2024 and the evaluation date for the rankings for the constituent selection process is 29th February 2024.
In this insight, we take a look at Potential ADDs and Potential DELs for the rebalance. We estimate US$13.1bn one-way flow on 3 ADDs and 3 DELs.


Quiddity Leaderboard S&P 500 Mar 24: Big Index Flows Possible for Workday and KKR

Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>Workday, Inc. reported its financial results for the first quarter of fiscal year 2027, highlighting both strong performance and notable strategic initiatives amid a transition into AI-enabled solutions.</li><li>Subscription revenue increased 14% year-over-year to $2.354 billion, with total revenue growing 13% to $2.542 billion.</li><li>The company’s U.S. business accounted for $1.89 billion, up 13%, while international revenue rose 16% to $649 million, with notable expansion in EMEA and APAC regions, including new operations in Vietnam and a data residency center in Frankfurt.</li></ul>

Workday, Inc. reported its financial results for the first quarter of fiscal year 2027, highlighting both strong performance and notable strategic initiatives amid a transition into AI-enabled solutions.Subscription revenue increased 14% year-over-year to $2.354 billion, with total revenue growing 13% to $2.542 billion.The company’s U.S. business accounted for $1.89 billion, up 13%, while international revenue rose 16% to $649 million, with notable expansion in EMEA and APAC regions, including new operations in Vietnam and a data residency center in Frankfurt.

Workday Goes Deeper Into AI Agents As Bookings Surge Over 200%!

<ul><li>Workday, Inc.'s fourth-quarter fiscal year 2026 earnings call highlighted key developments and strategies, providing insights into the company's current operations and future direction.</li><li>The call featured Aneel Bhusri, Workday's CEO, who outlined the company's transition into "Chapter 4," characterized by a renewed focus on innovation, particularly leveraging artificial intelligence (AI) to enhance its human resources (HR) and finance applications.</li><li>Workday emphasized the importance of AI in driving future growth, viewing it as a transformative opportunity for its enterprise resource planning (ERP) and HR solutions.</li></ul>

Workday, Inc.'s fourth-quarter fiscal year 2026 earnings call highlighted key developments and strategies, providing insights into the company's current operations and future direction.The call featured Aneel Bhusri, Workday's CEO, who outlined the company's transition into "Chapter 4," characterized by a renewed focus on innovation, particularly leveraging artificial intelligence (AI) to enhance its human resources (HR) and finance applications.Workday emphasized the importance of AI in driving future growth, viewing it as a transformative opportunity for its enterprise resource planning (ERP) and HR solutions.

Workday: Building Agentic “Lights-Out Finance” to Automate Compliance

<ul><li>Workday Inc. reported its Q3 fiscal 2026 results with a solid performance, underscored by a 15% increase in subscription revenue, reaching $2.244 billion, and a notable non-GAAP operating margin of 28.5%.</li><li>The company's comprehensive strategy to unify HR and finance platforms is resonating across industries, despite ongoing global economic uncertainty.</li><li>This alignment is reflected in strong customer adoption and expansion, particularly in the areas of AI and platform innovations.</li></ul>

Workday Inc. reported its Q3 fiscal 2026 results with a solid performance, underscored by a 15% increase in subscription revenue, reaching $2.244 billion, and a notable non-GAAP operating margin of 28.5%.The company's comprehensive strategy to unify HR and finance platforms is resonating across industries, despite ongoing global economic uncertainty.This alignment is reflected in strong customer adoption and expansion, particularly in the areas of AI and platform innovations.

Workday: The Game-Changing AI Deals That Are Rewriting Its Product Roadmap!

<ul><li>As Workday accelerates its push into AI-powered enterprise software, the company recently announced its intention to acquire Pipedream, an AI integration platform offering over 3,000 pre-built connectors to external business applications.</li><li>The deal, expected to close in Q4 of fiscal year 2026 (ending January 31, 2026), underscores Workday's commitment to expanding its end-to-end AI agent ecosystem.</li><li>This acquisition follows a string of AI-focused deals including Sana, Paradox, and Flowise, signaling a clear strategic direction toward strengthening Workday’s unified human capital and financial management platform.</li></ul>

As Workday accelerates its push into AI-powered enterprise software, the company recently announced its intention to acquire Pipedream, an AI integration platform offering over 3,000 pre-built connectors to external business applications.The deal, expected to close in Q4 of fiscal year 2026 (ending January 31, 2026), underscores Workday's commitment to expanding its end-to-end AI agent ecosystem.This acquisition follows a string of AI-focused deals including Sana, Paradox, and Flowise, signaling a clear strategic direction toward strengthening Workday’s unified human capital and financial management platform.

Workday’s Pipedream Play: The AI Acquisition That Could Reshape Enterprise Integration!

United States

Workday, Inc. provides enterprise cloud-based applications. The Company offers human capital, spend, and financial management, as well as payroll, initiatives and higher education solutions. Workday serves the finance, healthcare, manufacturing, education, and technology industries worldwide.

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Workday Inc Class A (WDAY US)

Quiddity Leaderboard S&P 500 Mar 24: Big Index Flows Possible for Workday and KKR

A new Quiddity Leaderboard for S&P500 Index Rebal predictions. We like Workday against a basket of peers, based on our expectation of US$6bn+ net...

Travis Lundy

Workday Goes Deeper Into AI Agents As Bookings Surge Over 200%!

Workday, Inc. reported its financial results for the first quarter of fiscal year 2027, highlighting both strong performance and notable strategic...

Baptista Research

Workday: Building Agentic “Lights-Out Finance” to Automate Compliance

Workday, Inc.'s fourth-quarter fiscal year 2026 earnings call highlighted key developments and strategies, providing insights into the company's...

Baptista Research

Workday: The Game-Changing AI Deals That Are Rewriting Its Product Roadmap!

Workday Inc. reported its Q3 fiscal 2026 results with a solid performance, underscored by a 15% increase in subscription revenue, reaching $2.244...

Baptista Research

Workday’s Pipedream Play: The AI Acquisition That Could Reshape Enterprise Integration!

As Workday accelerates its push into AI-powered enterprise software, the company recently announced its intention to acquire Pipedream, an AI...

Baptista Research

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