Deutsche Bank AG Increases Workday Inc. (WDAY) Price Target to $85.00
Workday Inc. (NYSE:WDAY) had its price target hoisted by research analysts at Deutsche Bank AG from $75.00 to $85.00 in a note issued to investors on Friday. The brokerage currently has a “hold” rating on the stock. Deutsche Bank AG’s price target points to a potential downside of 4.12% from the company’s current price.
Other equities research analysts have also recently issued reports about the company. Stephens decreased their price target on Workday from $100.00 to $85.00 and set an “equal weight” rating for the company in a research note on Thursday, August 25th. Drexel Hamilton reiterated a “buy” rating and issued a $92.00 price target (up from $88.00) on shares of Workday in a research note on Wednesday, June 1st. First Analysis cut Workday from an “overweight” rating to an “equal weight” rating and increased their price target for the company from $87.00 to $88.00 in a research note on Thursday, August 25th. Needham & Company LLC reiterated a “buy” rating on shares of Workday in a research note on Wednesday, June 1st. Finally, Canaccord Genuity increased their price target on Workday from $85.00 to $98.00 and gave the company a “buy” rating in a research note on Thursday, August 25th. Three investment analysts have rated the stock with a sell rating, twenty have given a hold rating and seventeen have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $84.11.
Shares of Workday (NYSE:WDAY) opened at 88.65 on Friday. The firm’s 50 day moving average price is $84.44 and its 200-day moving average price is $78.11. The company’s market capitalization is $17.73 billion. Workday has a 1-year low of $47.32 and a 1-year high of $90.73.
Workday (NYSE:WDAY) last issued its quarterly earnings data on Wednesday, August 24th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by $0.02. Workday had a negative net margin of 25.71% and a negative return on equity of 26.89%. The company had revenue of $377.70 million for the quarter, compared to the consensus estimate of $372.68 million. During the same period in the previous year, the business earned $0.02 EPS. Workday’s revenue for the quarter was up 33.6% compared to the same quarter last year. Analysts expect that Workday will post ($0.04) EPS for the current year.
In other news, Vice Chairman Michael A. Stankey sold 112,600 shares of the company’s stock in a transaction dated Friday, September 9th. The stock was sold at an average price of $88.30, for a total transaction of $9,942,580.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP James P. Shaughnessy sold 11,750 shares of the company’s stock in a transaction dated Friday, July 1st. The stock was sold at an average price of $74.56, for a total value of $876,080.00. The disclosure for this sale can be found here. Corporate insiders own 41.78% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Tybourne Capital Management HK Ltd. boosted its position in Workday by 139.6% in the first quarter. Tybourne Capital Management HK Ltd. now owns 2,955,095 shares of the company’s stock valued at $227,069,000 after buying an additional 1,721,958 shares in the last quarter. State Street Corp boosted its position in Workday by 4.1% in the first quarter. State Street Corp now owns 1,854,350 shares of the company’s stock valued at $142,497,000 after buying an additional 73,344 shares in the last quarter. Southpoint Capital Advisors LP acquired a new position in Workday during the first quarter valued at about $38,420,000. Legal & General Group Plc boosted its position in Workday by 14.1% in the first quarter. Legal & General Group Plc now owns 430,683 shares of the company’s stock valued at $33,094,000 after buying an additional 53,120 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in Workday by 5.0% in the first quarter. Geode Capital Management LLC now owns 647,820 shares of the company’s stock valued at $49,747,000 after buying an additional 30,992 shares in the last quarter.
Workday, Inc is a provider of enterprise cloud applications for finance and human resources. The Company delivers financial management, human capital management and analytics applications designed for various companies, educational institutions and government agencies. It operates in the cloud applications segment.
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