Workday Inc (WDAY) Rating Lowered to Hold at Vetr Inc.
Workday Inc (NYSE:WDAY) was downgraded by equities researchers at Vetr from a “buy” rating to a “hold” rating in a report issued on Thursday. They presently have a $88.50 target price on the software maker’s stock. Vetr‘s price objective suggests a potential upside of 3.26% from the stock’s previous close.
Other research analysts also recently issued research reports about the company. BMO Capital Markets restated a “hold” rating and set a $96.00 price target on shares of Workday in a report on Wednesday, April 5th. BTIG Research boosted their price target on Workday from $88.00 to $97.00 and gave the company a “buy” rating in a report on Tuesday, February 28th. Piper Jaffray Companies upgraded Workday from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $78.00 to $100.00 in a report on Friday, February 17th. William Blair boosted their price target on Workday to $40.00 and gave the company an “outperform” rating in a report on Friday, April 14th. Finally, Wedbush upgraded Workday from a “hold” rating to a “buy” rating in a report on Wednesday, March 1st. Four equities research analysts have rated the stock with a sell rating, twenty have issued a hold rating and fourteen have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $86.44.
Shares of Workday (NYSE:WDAY) traded up 1.61% during trading on Thursday, reaching $85.71. The company’s stock had a trading volume of 1,083,477 shares. The stock’s market cap is $17.40 billion. The stock’s 50-day moving average is $83.28 and its 200-day moving average is $81.91. Workday has a 12-month low of $65.79 and a 12-month high of $93.35.
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Workday (NYSE:WDAY) last announced its quarterly earnings results on Monday, February 27th. The software maker reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.08. Workday had a negative return on equity of 29.55% and a negative net margin of 26.36%. The company had revenue of $436.70 million for the quarter, compared to the consensus estimate of $430.19 million. During the same quarter in the previous year, the business earned ($0.01) EPS. Workday’s revenue was up 35.0% compared to the same quarter last year. Equities research analysts anticipate that Workday will post $0.51 earnings per share for the current fiscal year.
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In other news, CFO Robynne Sisco sold 3,522 shares of the company’s stock in a transaction on Thursday, March 2nd. The stock was sold at an average price of $83.40, for a total value of $293,734.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David A. Duffield sold 428,489 shares of the company’s stock in a transaction on Tuesday, April 11th. The stock was sold at an average price of $81.71, for a total value of $35,011,836.19. The disclosure for this sale can be found here. Insiders sold a total of 816,519 shares of company stock valued at $67,551,281 over the last 90 days. 41.78% of the stock is currently owned by company insiders.
A number of large investors have recently modified their holdings of the company. Advisor Group Inc. raised its stake in shares of Workday by 14.9% in the third quarter. Advisor Group Inc. now owns 1,193 shares of the software maker’s stock worth $109,000 after buying an additional 155 shares during the last quarter. TLP Group LLC raised its stake in shares of Workday by 107.0% in the third quarter. TLP Group LLC now owns 1,414 shares of the software maker’s stock worth $130,000 after buying an additional 731 shares during the last quarter. State of Alaska Department of Revenue acquired a new stake in shares of Workday during the first quarter worth about $124,000. Nisa Investment Advisors LLC acquired a new stake in shares of Workday during the third quarter worth about $138,000. Finally, Integrated Wealth Counsel LLC acquired a new stake in shares of Workday during the third quarter worth about $138,000.
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.
To view Vetr’s full report, visit Vetr’s official website.
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