Shares of Workday (WDAY - Get Report) are higher by 8% Tuesday after the company topped analysts' estimates for fourth quarter EPS and revenue results. 

"This was the quarter I was waiting for from Workday," TheStreet's Jim Cramer, co-manager of the Action Alerts PLUS portfolio, said on CNBC's "Mad Dash" segment. 

The stock has struggled of late, falling 24% on the year before Tuesday's move. "It was a great quarter," Cramer said, adding that deferred revenue were "fabulous" and operating cash flows were "terrific."

WDAY Chart
WorkdayWDAY data by YCharts

The company is going head-to-head with Oracle (ORCL - Get Report) and SAP (SAP - Get Report) , and according to CEO Aneel Bhusri, Workday is winning back customers and market share. 

"This was a very big breakout quarter for Workday against Oracle and SAP," Cramer added. "This company is back... People better get on board." 


At the time of publication, Cramer's Action Alerts PLUS had no position in companies mentioned.