Workday, Inc. (WDAY) Stock Rating Reaffirmed by Drexel Hamilton
Workday, Inc. (NYSE:WDAY)‘s stock had its “buy” rating restated by stock analysts at Drexel Hamilton in a research note issued on Tuesday. They presently have a $122.00 target price on the software maker’s stock. Drexel Hamilton’s target price points to a potential upside of 13.45% from the stock’s current price.
WDAY has been the subject of several other research reports. BMO Capital Markets lifted their price objective on Workday from $105.00 to $110.00 and gave the stock a “market perform” rating in a report on Thursday, August 17th. Wunderlich reaffirmed a “hold” rating and issued a $96.00 price objective (up previously from $86.00) on shares of Workday in a report on Saturday, June 3rd. Cowen and Company reaffirmed a “market perform” rating and issued a $93.00 price objective (up previously from $83.00) on shares of Workday in a report on Saturday, June 3rd. Credit Suisse Group reaffirmed a “neutral” rating and issued a $94.00 price objective (up previously from $91.00) on shares of Workday in a report on Saturday, June 3rd. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $92.00 price objective (up previously from $84.00) on shares of Workday in a report on Saturday, June 3rd. Four investment analysts have rated the stock with a sell rating, twenty have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. Workday presently has an average rating of “Hold” and an average price target of $94.38.
Workday (NYSE WDAY) opened at 107.54 on Tuesday. The company’s market capitalization is $22.26 billion. The company has a 50 day moving average of $102.15 and a 200 day moving average of $93.37. Workday has a 1-year low of $65.79 and a 1-year high of $107.88.
Workday (NYSE:WDAY) last posted its quarterly earnings results on Wednesday, August 30th. The software maker reported $0.24 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.09. Workday had a negative return on equity of 27.75% and a negative net margin of 22.99%. The firm had revenue of $525.30 million during the quarter, compared to analysts’ expectations of $507.44 million. During the same quarter in the previous year, the business earned ($0.04) earnings per share. The company’s revenue was up 40.6% on a year-over-year basis. On average, analysts predict that Workday will post $0.66 earnings per share for the current fiscal year.
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In other news, COO James Bozzini sold 3,918 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $101.68, for a total transaction of $398,382.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Robynne Sisco sold 1,043 shares of the company’s stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $102.91, for a total value of $107,335.13. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,285,592 shares of company stock worth $128,237,888. Company insiders own 37.71% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Wedbush Securities Inc. boosted its stake in shares of Workday by 0.8% in the first quarter. Wedbush Securities Inc. now owns 5,573 shares of the software maker’s stock valued at $464,000 after buying an additional 44 shares during the period. Fisher Asset Management LLC raised its position in shares of Workday by 0.5% in the second quarter. Fisher Asset Management LLC now owns 8,620 shares of the software maker’s stock worth $836,000 after buying an additional 45 shares during the period. Nordea Investment Management AB raised its position in shares of Workday by 2.5% in the second quarter. Nordea Investment Management AB now owns 3,413 shares of the software maker’s stock worth $331,000 after buying an additional 83 shares during the period. Global X Management Co. LLC raised its position in shares of Workday by 9.3% in the second quarter. Global X Management Co. LLC now owns 1,136 shares of the software maker’s stock worth $110,000 after buying an additional 97 shares during the period. Finally, Utah Retirement Systems raised its position in shares of Workday by 0.5% in the first quarter. Utah Retirement Systems now owns 21,400 shares of the software maker’s stock worth $1,782,000 after buying an additional 100 shares during the period.
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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