Workday Inc (WDAY) Receives Average Recommendation of “Buy” from Brokerages
Shares of Workday Inc (NASDAQ:WDAY) have been given a consensus rating of “Buy” by the thirty-two research firms that are covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, sixteen have given a buy rating and two have issued a strong buy rating on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $155.50.
Several analysts recently weighed in on the company. Stifel Nicolaus boosted their price objective on Workday to $160.00 and gave the company a “hold” rating in a report on Friday, November 30th. Societe Generale set a $130.00 price objective on Workday and gave the company a “sell” rating in a report on Friday, November 30th. BMO Capital Markets boosted their price objective on Workday from $165.00 to $170.00 and gave the company a “market perform” rating in a report on Friday, November 30th. Cantor Fitzgerald set a $185.00 price objective on Workday and gave the company a “buy” rating in a report on Sunday. Finally, Credit Suisse Group upped their target price on Workday from $150.00 to $155.00 and gave the company a “neutral” rating in a report on Friday, November 30th.
Workday stock traded down $2.78 during midday trading on Friday, hitting $165.02. The stock had a trading volume of 4,779,191 shares, compared to its average volume of 2,369,569. The company has a quick ratio of 1.89, a current ratio of 1.89 and a debt-to-equity ratio of 0.54. The firm has a market cap of $35.59 billion, a P/E ratio of -129.94 and a beta of 2.06. Workday has a 12 month low of $95.35 and a 12 month high of $172.67.
In other news, Director David A. Duffield sold 374,488 shares of the business’s stock in a transaction that occurred on Monday, October 8th. The stock was sold at an average price of $133.55, for a total transaction of $50,012,872.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Aneel Bhusri sold 75,000 shares of the business’s stock in a transaction that occurred on Thursday, September 6th. The stock was sold at an average price of $144.66, for a total value of $10,849,500.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 503,782 shares of company stock valued at $68,244,014. Insiders own 33.59% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of WDAY. Millennium Management LLC acquired a new position in shares of Workday during the first quarter worth approximately $866,000. Nisa Investment Advisors LLC boosted its position in shares of Workday by 55.6% during the second quarter. Nisa Investment Advisors LLC now owns 1,400 shares of the software maker’s stock worth $170,000 after buying an additional 500 shares during the period. Cornerstone Wealth Management LLC acquired a new position in shares of Workday during the second quarter worth approximately $626,000. BP PLC acquired a new stake in Workday in the second quarter worth approximately $2,059,000. Finally, Aperio Group LLC lifted its position in Workday by 5.9% in the second quarter. Aperio Group LLC now owns 33,184 shares of the software maker’s stock worth $4,019,000 after purchasing an additional 1,863 shares during the period. Institutional investors and hedge funds own 68.92% of the company’s stock.
Workday, Inc provides enterprise cloud applications for finance and human resources worldwide. It provides applications for customers to manage critical business functions to optimize their financial and human capital resources. The company offers Workday Financial Management application that provides functions of general ledger, accounting, accounts payable and receivable, cash and asset management, employee expense and revenue management, projects, procurement, inventory, and grants management.
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