Workday Inc (WDAY) Receives New Coverage from Analysts at Bank of America Corp
Research analysts at Bank of America Corp initiated coverage on shares of Workday Inc (NYSE:WDAY) in a note issued to investors on Monday, The Fly reports. The brokerage set a “buy” rating on the stock.
Other equities analysts have also recently issued research reports about the company. Drexel Hamilton restated a “buy” rating and set a $110.00 price target on shares of Workday in a report on Wednesday, November 30th. DA Davidson set a $93.00 price target on Workday and gave the company a “buy” rating in a report on Monday, December 5th. BTIG Research lifted their target price on Workday from $88.00 to $97.00 and gave the stock a “buy” rating in a report on Tuesday, February 28th. Piper Jaffray Companies upgraded Workday from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $78.00 to $100.00 in a report on Friday, February 17th. Finally, Societe Generale cut Workday from a “hold” rating to a “sell” rating in a report on Friday, December 2nd. They noted that the move was a valuation call. Four investment analysts have rated the stock with a sell rating, twenty have given a hold rating and fourteen have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $87.27.
Shares of Workday (NYSE:WDAY) opened at 84.96 on Monday. The company has a 50-day moving average price of $85.07 and a 200 day moving average price of $82.83. The stock’s market capitalization is $17.12 billion. Workday has a 52 week low of $65.79 and a 52 week high of $93.35.
Workday (NYSE:WDAY) last released its quarterly earnings results on Monday, February 27th. The company reported $0.07 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.08. The business earned $436.70 million during the quarter, compared to analysts’ expectations of $430.19 million. Workday had a negative return on equity of 29.55% and a negative net margin of 26.36%. The firm’s revenue for the quarter was up 35.0% compared to the same quarter last year. During the same quarter last year, the business posted ($0.01) EPS. Equities analysts forecast that Workday will post $0.51 EPS for the current fiscal year.
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In other news, Director Michael M. Mcnamara sold 6,667 shares of the business’s stock in a transaction on Wednesday, December 21st. The stock was sold at an average price of $67.86, for a total value of $452,422.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider James Bozzini sold 37,500 shares of the business’s stock in a transaction on Wednesday, March 15th. The stock was sold at an average price of $83.30, for a total value of $3,123,750.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 205,969 shares of company stock valued at $15,345,287. Corporate insiders own 41.78% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Advisor Group Inc. raised its position in Workday by 14.9% in the third quarter. Advisor Group Inc. now owns 1,193 shares of the company’s stock valued at $109,000 after buying an additional 155 shares during the last quarter. TLP Group LLC raised its position in Workday by 107.0% in the third quarter. TLP Group LLC now owns 1,414 shares of the company’s stock valued at $130,000 after buying an additional 731 shares during the last quarter. Nisa Investment Advisors LLC bought a new position in Workday during the third quarter valued at approximately $138,000. Integrated Wealth Counsel LLC bought a new position in Workday during the third quarter valued at approximately $138,000. Finally, Stanford Investment Group Inc. raised its position in Workday by 2,101.0% in the fourth quarter. Stanford Investment Group Inc. now owns 2,201 shares of the company’s stock valued at $145,000 after buying an additional 2,101 shares during the last quarter.
Workday Company Profile
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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