Royal Bank of Canada Increases Workday Inc (WDAY) Price Target to $105.00
Workday Inc (NYSE:WDAY) had its price target increased by equities researchers at Royal Bank of Canada from $96.00 to $105.00 in a report issued on Wednesday. The brokerage currently has an “outperform” rating on the software maker’s stock. Royal Bank of Canada’s price objective indicates a potential upside of 6.66% from the stock’s current price.
A number of other equities analysts have also weighed in on the stock. Vetr upgraded shares of Workday from a “hold” rating to a “buy” rating and set a $93.50 target price for the company in a research report on Monday, May 1st. Benchmark Co. began coverage on shares of Workday in a research report on Thursday, April 27th. They issued a “hold” rating for the company. Credit Suisse Group AG began coverage on shares of Workday in a research note on Thursday, April 27th. They issued a “neutral” rating and a $91.00 target price on the stock. William Blair raised their target price on shares of Workday to $40.00 and gave the company an “outperform” rating in a research note on Friday, April 14th. Finally, BMO Capital Markets reaffirmed a “hold” rating and issued a $96.00 target price on shares of Workday in a research note on Wednesday, April 5th. Four research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and fifteen have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $87.00.
Workday (NYSE:WDAY) opened at 98.44 on Wednesday. Workday has a 12 month low of $65.79 and a 12 month high of $100.40. The firm’s market cap is $19.98 billion. The stock’s 50 day moving average is $88.42 and its 200-day moving average is $82.43.
Workday (NYSE:WDAY) last announced its earnings results on Monday, February 27th. The software maker reported $0.07 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.08. The company had revenue of $436.70 million during the quarter, compared to the consensus estimate of $430.19 million. Workday had a negative net margin of 26.36% and a negative return on equity of 29.55%. The firm’s revenue for the quarter was up 35.0% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.01) earnings per share. On average, analysts anticipate that Workday will post $0.51 earnings per share for the current fiscal year.
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In other Workday news, CEO Aneel Bhusri sold 13,252 shares of the company’s stock in a transaction that occurred on Monday, April 17th. The stock was sold at an average price of $83.15, for a total value of $1,101,903.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Robynne Sisco sold 1,405 shares of the company’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $94.40, for a total value of $132,632.00. The disclosure for this sale can be found here. Insiders sold a total of 848,462 shares of company stock valued at $70,575,582 over the last 90 days. 41.78% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of WDAY. Advisor Group Inc. increased its position in Workday by 14.9% in the third quarter. Advisor Group Inc. now owns 1,193 shares of the software maker’s stock valued at $109,000 after buying an additional 155 shares during the last quarter. Toronto Dominion Bank increased its position in Workday by 29.5% in the first quarter. Toronto Dominion Bank now owns 1,335 shares of the software maker’s stock valued at $111,000 after buying an additional 304 shares during the last quarter. Mizuho Asset Management Co. Ltd. increased its position in Workday by 132.1% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 1,541 shares of the software maker’s stock valued at $115,000 after buying an additional 877 shares during the last quarter. State of Alaska Department of Revenue acquired a new position in Workday during the first quarter valued at $124,000. Finally, TLP Group LLC increased its position in Workday by 107.0% in the third quarter. TLP Group LLC now owns 1,414 shares of the software maker’s stock valued at $130,000 after buying an additional 731 shares during the last quarter.
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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