Credit Suisse Group Reaffirms “Neutral” Rating for Workday, Inc. (WDAY)
Workday, Inc. (NYSE:WDAY)‘s stock had its “neutral” rating reiterated by equities researchers at Credit Suisse Group in a research note issued to investors on Sunday. They presently have a $94.00 price target on the software maker’s stock. Credit Suisse Group’s price objective points to a potential downside of 12.59% from the stock’s previous close.
WDAY has been the topic of several other research reports. Deutsche Bank AG restated a “hold” rating and set a $95.00 price target (up previously from $85.00) on shares of Workday in a report on Saturday, June 3rd. J P Morgan Chase & Co increased their price target on Workday to $115.00 and gave the company an “overweight” rating in a report on Thursday, July 13th. BMO Capital Markets increased their price target on Workday from $105.00 to $110.00 and gave the company a “market perform” rating in a report on Thursday, August 17th. Vetr upgraded Workday from a “hold” rating to a “buy” rating and set a $93.50 price target on the stock in a report on Monday, May 1st. Finally, Stifel Nicolaus restated a “hold” rating and set a $92.00 price target on shares of Workday in a report on Tuesday, August 22nd. Four equities research analysts have rated the stock with a sell rating, twenty have assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $95.81.
Shares of Workday (NYSE WDAY) traded up 1.68% on Friday, hitting $109.35. 2,944,054 shares of the company traded hands. Workday has a 1-year low of $65.79 and a 1-year high of $111.45. The stock’s market capitalization is $22.64 billion. The firm’s 50 day moving average price is $102.15 and its 200-day moving average price is $93.37. Workday also saw some unusual options trading on Wednesday. Stock traders acquired 8,430 put options on the stock. This represents an increase of approximately 615% compared to the typical daily volume of 1,179 put options.
Workday (NYSE:WDAY) last released its quarterly earnings results on Wednesday, August 30th. The software maker reported $0.24 earnings per share for the quarter, beating 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 company had revenue of $525.30 million for the quarter, compared to analyst estimates of $507.44 million. During the same quarter in the prior year, the firm posted ($0.04) EPS. Workday’s quarterly revenue was up 40.6% compared to the same quarter last year. On average, equities research analysts expect that Workday will post $0.66 earnings per share for the current year.
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In related news, CFO Robynne Sisco sold 1,470 shares of Workday stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $101.70, for a total transaction of $149,499.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Aneel Bhusri sold 8,816 shares of Workday stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $101.65, for a total value of $896,146.40. The disclosure for this sale can be found here. Insiders have sold 1,285,592 shares of company stock valued at $128,237,888 in the last ninety days. Corporate insiders own 37.71% of the company’s stock.
Several large investors have recently added to or reduced their stakes in WDAY. Winfield Associates Inc. increased its stake in Workday by 136.4% in the second quarter. Winfield Associates Inc. now owns 1,040 shares of the software maker’s stock worth $101,000 after buying an additional 600 shares during the period. First Personal Financial Services increased its stake in Workday by 21.2% in the second quarter. First Personal Financial Services now owns 1,057 shares of the software maker’s stock worth $103,000 after buying an additional 185 shares during the period. Global X Management Co. LLC increased its stake in 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. Toronto Dominion Bank increased its stake in Workday by 29.5% in the first quarter. Toronto Dominion Bank now owns 1,335 shares of the software maker’s stock worth $111,000 after buying an additional 304 shares during the period. Finally, IFP Advisors Inc increased its stake in Workday by 17.6% in the second quarter. IFP Advisors Inc now owns 1,176 shares of the software maker’s stock worth $114,000 after buying an additional 176 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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