BidaskClub Downgrades Workday, Inc. (WDAY) to Buy
Workday, Inc. (NYSE:WDAY) was downgraded by research analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Friday.
A number of other equities research analysts have also recently commented on the company. Canaccord Genuity reiterated a “buy” rating and set a $115.00 target price on shares of Workday in a research note on Friday, July 7th. Deutsche Bank AG reissued a “hold” rating and issued a $105.00 price objective (up previously from $95.00) on shares of Workday in a report on Thursday, August 31st. BMO Capital Markets reissued a “market perform” rating and issued a $117.00 price objective (up previously from $110.00) on shares of Workday in a report on Friday, September 1st. JMP Securities reissued an “overweight” rating and issued a $90.00 price objective on shares of Workday in a report on Thursday, June 1st. Finally, Citigroup Inc. reissued a “sell” rating on shares of Workday in a report on Tuesday, May 30th. Four analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and sixteen have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $98.79.
Shares of Workday (WDAY) opened at 103.89 on Friday. The company’s market capitalization is $21.61 billion. Workday has a one year low of $65.79 and a one year high of $111.45. The firm has a 50-day moving average of $104.37 and a 200-day moving average of $95.86.
Workday (NYSE:WDAY) last released its earnings results on Wednesday, August 30th. The software maker reported $0.24 EPS for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.09. The company had revenue of $525.30 million for the quarter, compared to analysts’ expectations of $507.44 million. Workday had a negative return on equity of 24.07% and a negative net margin of 19.78%. The business’s revenue for the quarter was up 40.6% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.04) EPS. Equities research analysts expect that Workday will post $0.83 EPS for the current fiscal year.
In other Workday news, Director George J. Still, Jr. sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $104.84, for a total value of $1,048,400.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP James P. Shaughnessy sold 8,760 shares of the business’s stock in a transaction that occurred on Monday, July 17th. The shares were sold at an average price of $103.62, for a total value of $907,711.20. The disclosure for this sale can be found here. Insiders sold a total of 1,314,749 shares of company stock valued at $135,370,554 in the last 90 days. 37.71% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in WDAY. Capstone Asset Management Co. bought a new stake in Workday in the first quarter valued at approximately $234,000. Waldron LP lifted its position in Workday by 167.1% in the first quarter. Waldron LP now owns 11,102 shares of the software maker’s stock valued at $896,000 after purchasing an additional 6,946 shares during the last quarter. ProShare Advisors LLC bought a new stake in Workday in the first quarter valued at approximately $241,000. Comerica Bank lifted its position in Workday by 12.9% in the first quarter. Comerica Bank now owns 5,205 shares of the software maker’s stock valued at $452,000 after purchasing an additional 595 shares during the last quarter. Finally, World Asset Management Inc lifted its position in Workday by 26.5% in the first quarter. World Asset Management Inc now owns 5,368 shares of the software maker’s stock valued at $447,000 after purchasing an additional 1,123 shares during the last quarter. Hedge funds and other institutional investors own 67.08% of the company’s stock.
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. As part of its applications, the Company provides embedded analytics that capture the content and context of everyday business events, facilitating informed decision-making from wherever users are working.
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