Workday Inc (WDAY) Rating Reiterated by Morgan Stanley
Workday Inc (NYSE:WDAY)‘s stock had its “equal weight” rating restated by investment analysts at Morgan Stanley in a research report issued on Saturday. They currently have a $100.00 price target on the software maker’s stock, up from their previous price target of $91.00. Morgan Stanley’s price target would suggest a potential downside of 4.22% from the company’s current price.
WDAY has been the topic of a number of other research reports. Benchmark Co. assumed coverage on Workday in a report on Thursday, April 27th. They set a “hold” rating on the stock. Deutsche Bank AG reaffirmed a “hold” rating and set a $95.00 price objective (up previously from $85.00) on shares of Workday in a report on Saturday. Credit Suisse Group AG reaffirmed a “neutral” rating and set a $94.00 price objective (up previously from $91.00) on shares of Workday in a report on Saturday. OTR Global raised Workday to a “positive” rating in a report on Friday, February 24th. Finally, Cowen and Company upped their price objective on Workday from $73.00 to $83.00 and gave the stock a “market perform” rating in a report on Tuesday, February 28th. Four equities research analysts have rated the stock with a sell rating, twenty-two have given a hold rating and thirteen have issued a buy rating to the company’s stock. Workday has an average rating of “Hold” and an average target price of $90.78.
Workday (WDAY) traded up 2.87% during trading on Friday, hitting $104.41. 5,183,388 shares of the company traded hands. The firm’s market cap is $21.20 billion. The company’s 50-day moving average is $92.33 and its 200 day moving average is $83.31. Workday has a 52-week low of $65.79 and a 52-week high of $104.53.
Workday (NYSE:WDAY) last announced its quarterly earnings data on Thursday, June 1st. The software maker reported $0.29 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.13. Workday had a negative return on equity of 29.55% and a negative net margin of 26.36%. The firm had revenue of $479.90 million for the quarter, compared to analyst estimates of $468.07 million. During the same quarter in the prior year, the company posted $0.05 earnings per share. Workday’s quarterly revenue was up 38.0% on a year-over-year basis. On average, equities analysts anticipate that Workday will post $0.51 earnings per share for the current year.
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In other Workday news, CEO Aneel Bhusri sold 13,252 shares of the company’s stock in a transaction dated Monday, April 17th. The stock was sold at an average price of $83.15, for a total transaction of $1,101,903.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Michael M. Mcnamara sold 13,500 shares of the company’s stock in a transaction dated Wednesday, March 22nd. The stock was sold at an average price of $81.28, for a total value of $1,097,280.00. The disclosure for this sale can be found here. Insiders have sold 844,940 shares of company stock valued at $70,281,847 over the last 90 days. 41.78% of the stock is currently owned by insiders.
A number of large investors have recently made changes to their positions in the company. Glynn Capital Management LLC raised its stake in shares of Workday by 7.3% in the first quarter. Glynn Capital Management LLC now owns 297,413 shares of the software maker’s stock valued at $24,769,000 after buying an additional 20,256 shares in the last quarter. Guggenheim Capital LLC raised its stake in shares of Workday by 52.7% in the fourth quarter. Guggenheim Capital LLC now owns 17,302 shares of the software maker’s stock valued at $1,143,000 after buying an additional 5,969 shares in the last quarter. Gateway Investment Advisers LLC raised its stake in shares of Workday by 1.3% in the first quarter. Gateway Investment Advisers LLC now owns 80,094 shares of the software maker’s stock valued at $6,670,000 after buying an additional 1,012 shares in the last quarter. Macquarie Group Ltd. purchased a new stake in shares of Workday during the fourth quarter valued at approximately $3,827,000. Finally, Norges Bank purchased a new stake in shares of Workday during the fourth quarter valued at approximately $48,885,000.
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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