NEW YORK (TheStreet) -- Shares of Microsoft (MSFT) - Get Report were up in early afternoon trading on Tuesday as the technology company is partnering with Workday (WDAY) to integrate its Office 365 service with the Pleasanton, CA-based company's cloud software.
The companies have worked together before, but the latest move "streamlines" their relationship, Microsoft said in a statement.
Workday's HR management software will now be connected to Microsoft's Office 365 "Groups" service. When a new employee is added to Workday's HR software, accounts will be created for various Office 365 applications, as well as updated whenever an employee assumes a new role.
Another update connects Workday's Human Capital Management software with Microsoft Graph to measure how employees use their time at work, such as average time spent in meetings or measuring email response times, Microsoft said.
The updates will roll out in the beginning of the fiscal 2017 second quarter.
Shares of Workday were increasing in early-afternoon trading on Tuesday.
Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author. TheStreet Ratings has this to say about the recommendation:
The team rates Microsoft as a Buy with a ratings score of B+. This is driven by several positive factors, which it believes should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks it covers. The company's strengths can be seen in multiple areas, such as its solid stock price performance, impressive record of earnings per share growth, notable return on equity, reasonable valuation levels and good cash flow from operations. Although no company is perfect, currently the team does not see any significant weaknesses which are likely to detract from the generally positive outlook.
You can view the full analysis from the report here: MSFT