Workday, Inc. (NYSE:WDAY) Upgraded by BidaskClub to Strong-Buy
Workday, Inc. (NYSE:WDAY) was upgraded by BidaskClub from a “buy” rating to a “strong-buy” rating in a report released on Tuesday.
A number of other research analysts have also commented on the company. Vetr raised Workday from a “hold” rating to a “buy” rating and set a $93.50 price objective on the stock in a report on Monday, May 1st. William Blair upped their price objective on Workday to $40.00 and gave the company an “outperform” rating in a report on Friday, April 14th. Credit Suisse Group started coverage on Workday in a report on Thursday, April 27th. They issued a “neutral” rating and a $91.00 price objective on the stock. Benchmark Co. started coverage on Workday in a report on Thursday, April 27th. They issued a “hold” rating on the stock. Finally, Canaccord Genuity reaffirmed a “buy” rating and issued a $115.00 price objective on shares of Workday in a report on Friday, July 7th. Four analysts have rated the stock with a sell rating, twenty-two have issued a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $92.37.
Shares of Workday (WDAY) traded up 0.55% on Tuesday, reaching $101.35. The company had a trading volume of 534,982 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 price is $100.70 and its 200-day moving average price is $91.11. The firm’s market capitalization is $20.98 billion.
Workday (NYSE:WDAY) last issued its quarterly earnings data on Thursday, June 1st. The software maker reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.13. Workday had a negative return on equity of 27.75% and a negative net margin of 22.99%. The firm had revenue of $479.90 million for the quarter, compared to analyst estimates of $468.07 million. During the same period in the prior year, the firm posted $0.05 EPS. The company’s revenue for the quarter was up 38.0% on a year-over-year basis. On average, analysts predict that Workday will post $0.65 earnings per share for the current year.
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In related news, CFO Robynne Sisco sold 1,405 shares of the firm’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 transaction of $132,632.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO James Bozzini sold 6,132 shares of the firm’s stock in a transaction that occurred on Monday, July 17th. The stock was sold at an average price of $102.71, for a total value of $629,817.72. The disclosure for this sale can be found here. Insiders have sold 1,284,581 shares of company stock valued at $127,908,387 in the last ninety days. 37.71% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Workday by 6.4% in the first quarter. Vanguard Group Inc. now owns 9,936,052 shares of the software maker’s stock valued at $827,474,000 after buying an additional 593,839 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its position in shares of Workday by 2,792.9% in the first quarter. Nomura Asset Management Co. Ltd. now owns 391,700 shares of the software maker’s stock valued at $32,621,000 after buying an additional 378,160 shares during the last quarter. State Street Corp raised its position in shares of Workday by 10.6% in the first quarter. State Street Corp now owns 2,288,030 shares of the software maker’s stock valued at $190,552,000 after buying an additional 219,326 shares during the last quarter. Russell Investments Group Ltd. raised its position in shares of Workday by 45.2% in the first quarter. Russell Investments Group Ltd. now owns 629,077 shares of the software maker’s stock valued at $52,398,000 after buying an additional 195,796 shares during the last quarter. Finally, Sumitomo Mitsui Asset Management Company LTD raised its position in shares of Workday by 47.0% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 573,715 shares of the software maker’s stock valued at $55,650,000 after buying an additional 183,444 shares during the last quarter.
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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