Workday announced that its Board of Directors has approved a share buyback program on Tuesday, November 29th 2022, which allows the company to repurchase $500,000,000.00 in shares, according to EventVestor. This repurchase authorization allows the company to reacquire up to 1.2% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's management believes its stock is undervalued.