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Workday (NASDAQ:WDAY) shares saw strong trading volume on Thursday after the company announced better than expected quarterly earnings, Analyst Ratings Net reports. 2,147,737 shares were traded during mid-day trading, an increase of 65% from the previous session’s volume of 1,299,610 shares.The stock last traded at $88.25 and had previously closed at $90.30.

The company reported ($0.11) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.14) by $0.03. The company had revenue of $186.80 million for the quarter, compared to the consensus estimate of $177.31 million. During the same quarter last year, the company posted ($0.13) earnings per share. Workday’s revenue was up 73.6% compared to the same quarter last year.

A number of analysts have recently weighed in on WDAY shares. Analysts at Wedbush raised their price target on shares of Workday to $106.00 in a research note on Thursday. Separately, analysts at Barclays reiterated an “equal weight” rating on shares of Workday in a research note on Thursday. They now have a $89.00 price target on the stock, up previously from $83.00. Finally, analysts at Cantor Fitzgerald reiterated a “buy” rating on shares of Workday in a research note on Thursday. They now have a $121.00 price target on the stock, up previously from $108.00. Thirteen research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $98.16.

The stock’s 50-day moving average is $83.77 and its 200-day moving average is $85.65. The company’s market cap is $16.040 billion. Workday also saw unusually large options trading activity on Monday. Traders acquired 3,199 put options on the stock. This is an increase of approximately 262% compared to the typical volume of 884 put options.

Workday, Inc, is a provider of enterprise cloud-based applications for human capital management (NASDAQ:WDAY), payroll, financial management, time tracking, procurement and employee expense management.

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