Workday, Inc. (WDAY) Earns “Buy” Rating from Royal Bank Of Canada
Workday, Inc. (NYSE:WDAY)‘s stock had its “buy” rating reiterated by analysts at Royal Bank Of Canada in a research note issued to investors on Sunday. They currently have a $106.00 price target on the software maker’s stock. Royal Bank Of Canada’s price objective points to a potential upside of 4.77% from the company’s previous close.
WDAY has been the subject of several other research reports. Benchmark Co. assumed coverage on shares of Workday in a report on Thursday, April 27th. They issued a “hold” rating for the company. Deutsche Bank AG reiterated a “hold” rating and set a $95.00 price target (up previously from $85.00) on shares of Workday in a research note on Saturday, June 3rd. Credit Suisse Group reiterated a “neutral” rating and set a $94.00 price target (up previously from $91.00) on shares of Workday in a research note on Saturday, June 3rd. J P Morgan Chase & Co upped their price objective on shares of Workday to $115.00 and gave the stock an “overweight” rating in a research report on Thursday, July 13th. Finally, Vetr downgraded shares of Workday from a “buy” rating to a “hold” rating and set a $88.50 price objective for the company. in a research report on Thursday, April 20th. Four equities research analysts have rated the stock with a sell rating, twenty-two have given a hold rating and sixteen have assigned a buy rating to the stock. Workday currently has an average rating of “Hold” and a consensus price target of $92.37.
Shares of Workday (NYSE WDAY) traded up 0.26% during mid-day trading on Friday, hitting $101.17. The stock had a trading volume of 825,978 shares. Workday has a 52-week low of $65.79 and a 52-week high of $106.75. The company’s 50 day moving average is $100.70 and its 200-day moving average is $91.11. The stock’s market cap is $20.94 billion.
Workday (NYSE:WDAY) last announced its earnings results on Thursday, June 1st. The software maker reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.13. Workday had a negative net margin of 22.99% and a negative return on equity of 27.75%. The firm had revenue of $479.90 million for the quarter, compared to the consensus estimate of $468.07 million. During the same period in the prior year, the firm earned $0.05 EPS. The firm’s revenue for the quarter was up 38.0% on a year-over-year basis. On average, equities research analysts anticipate that Workday will post $0.65 earnings per share for the current fiscal year.
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In other Workday news, Director Michael A. Stankey sold 25,000 shares of Workday stock in a transaction on Tuesday, June 6th. The shares were sold at an average price of $103.05, for a total value of $2,576,250.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP James P. Shaughnessy sold 1,873 shares of Workday stock in a transaction on Monday, May 15th. The stock was sold at an average price of $94.42, for a total transaction of $176,848.66. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,284,581 shares of company stock valued at $127,908,387. 37.71% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in the company. State of Alaska Department of Revenue acquired a new position in Workday during the first quarter worth approximately $124,000. Gemmer Asset Management LLC increased its position in Workday by 9.6% in the first quarter. Gemmer Asset Management LLC now owns 8,764 shares of the software maker’s stock worth $730,000 after buying an additional 764 shares in the last quarter. Gateway Investment Advisers LLC increased its position in Workday by 1.3% in the first quarter. Gateway Investment Advisers LLC now owns 80,094 shares of the software maker’s stock worth $6,670,000 after buying an additional 1,012 shares in the last quarter. Regent Investment Management LLC acquired a new position in Workday during the first quarter worth approximately $1,672,000. Finally, Fox Run Management L.L.C. acquired a new position in Workday during the first quarter worth approximately $400,000.
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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