Workday, Salesforce lead SaaS stocks higher as Credit Suisse sees potential for increased IT spend [Seeking Alpha]
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Workday, Salesforce lead SaaS stocks higher as Credit Suisse sees potential for increased IT spendJun. 24, 2022 1:37 PM ETWorkday, Inc. (WDAY)CRMMSFTAMZNNOWORCLIBMCSCOADBEBy:Chris CiacciaSA News EditorSundry Photography/iStock Editorial via Getty ImagesWorkday (NASDAQ:NYSE:AnalystsSami Badri and George Engroff noted that back-office applications and front-office application software would likely see an estimated increase in spending in 2026, compared to 2022 and 2021. Back-office spending would rise to 10.1% of IT budgets in 2026, up from 8.6% currently, while front-office and customer relationship spending would rise to 9.3% in 2026, up from 7.6% currently.In a survey conducted by Credit Suisse, 18% of respondents said Salesforce (Comparatively speaking, 3% of respondents said Workday (Just 11% of respondents said Salesforce (Oracle (both gained more than 6%Several other software-as-a-service stocks also rose, includingroughly 2% gainsgaining more than 3.5%Earlier this month, technic
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