Workday, Inc. (WDAY) Receives “Hold” Rating from Needham & Company LLC
Other analysts have also issued research reports about the company. UBS AG reaffirmed a buy rating and issued a $115.00 target price (up previously from $103.00) on shares of Workday in a research note on Friday, June 2nd. Vetr raised Workday from a hold rating to a buy rating and set a $93.50 target price for the company in a research note on Monday, May 1st. Drexel Hamilton reaffirmed a buy rating and issued a $114.00 target price on shares of Workday in a research note on Wednesday, May 31st. Canaccord Genuity reaffirmed a buy rating and issued a $115.00 target price on shares of Workday in a research note on Friday, June 2nd. Finally, Bank of America Corporation reaffirmed a buy rating and issued a $114.00 target price (up previously from $96.00) on shares of Workday in a research note on Friday, June 2nd. Four equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. Workday currently has an average rating of Hold and an average target price of $94.13.
Workday (WDAY) opened at 103.50 on Monday. The company’s market capitalization is $21.42 billion. The firm has a 50 day moving average of $102.15 and a 200-day moving average of $93.37. Workday has a 52 week low of $65.79 and a 52 week high of $106.75.
Workday (NYSE:WDAY) last issued its earnings results on Thursday, June 1st. The software maker reported $0.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.16 by $0.13. The business had revenue of $479.90 million during the quarter, compared to analyst estimates of $468.07 million. Workday had a negative return on equity of 27.75% and a negative net margin of 22.99%. Workday’s revenue for the quarter was up 38.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.05 earnings per share. On average, analysts forecast that Workday will post $0.65 earnings per share for the current year.
In other news, CEO Aneel Bhusri sold 8,816 shares of the stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $101.65, for a total value of $896,146.40. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Robynne Sisco sold 1,470 shares of the stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $101.70, for a total value of $149,499.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,285,592 shares of company stock worth $128,237,888. Insiders own 37.71% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC bought a new stake in Workday during the second quarter worth approximately $117,209,000. Janus Henderson Group PLC boosted its stake in Workday by 6,210.6% in the second quarter. Janus Henderson Group PLC now owns 1,038,153 shares of the software maker’s stock valued at $100,701,000 after buying an additional 1,021,702 shares during the period. Vanguard Group Inc. boosted its stake in Workday by 8.5% in the second quarter. Vanguard Group Inc. now owns 10,782,861 shares of the software maker’s stock valued at $1,045,937,000 after buying an additional 846,809 shares during the period. Nomura Asset Management Co. Ltd. boosted its stake in Workday by 2,792.9% in the first quarter. Nomura Asset Management Co. Ltd. now owns 391,700 shares of the software maker’s stock valued at $32,621,000 after buying an additional 378,160 shares during the period. Finally, Balyasny Asset Management LLC boosted its stake in Workday by 492.8% in the second quarter. Balyasny Asset Management LLC now owns 383,164 shares of the software maker’s stock valued at $37,167,000 after buying an additional 318,523 shares during the period.
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. 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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