FBN Securities Upgrades Workday Inc (WDAY) to Outperform
Workday Inc (NYSE:WDAY) was upgraded by equities research analysts at FBN Securities from a “sector perform” rating to an “outperform” rating in a report released on Wednesday, The Fly reports. The firm currently has a $125.00 price objective on the software maker’s stock, up from their prior price objective of $115.00. FBN Securities’ price target points to a potential upside of 15.20% from the company’s current price.
Several other research analysts also recently commented on WDAY. Canaccord Genuity reissued a “buy” rating and issued a $115.00 price objective on shares of Workday in a research note on Friday, July 7th. Deutsche Bank AG reissued a “hold” rating and issued a $105.00 price objective (up from $95.00) on shares of Workday in a research note on Thursday, August 31st. BMO Capital Markets reissued a “market perform” rating and issued a $117.00 price objective (up from $110.00) on shares of Workday in a research note on Friday, September 1st. Drexel Hamilton reissued a “buy” rating and issued a $122.00 price objective on shares of Workday in a research note on Tuesday, August 29th. Finally, Goldman Sachs Group, Inc. (The) reissued a “neutral” rating and issued a $114.00 price objective (up from $101.00) on shares of Workday in a research note on Thursday, August 31st. Four investment analysts have rated the stock with a sell rating, twenty have assigned a hold rating and seventeen have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $99.85.
Workday (WDAY) traded up 0.18% during midday trading on Wednesday, hitting $108.51. 1,895,642 shares of the stock traded hands. The company’s 50 day moving average price is $105.68 and its 200 day moving average price is $98.18. Workday has a 12 month low of $65.79 and a 12 month high of $111.45. The firm’s market cap is $22.57 billion.
Workday (NYSE:WDAY) last announced its earnings results on Wednesday, August 30th. The software maker reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.09. Workday had a negative return on equity of 24.60% and a negative net margin of 15.71%. The firm had revenue of $525.30 million for the quarter, compared to analyst estimates of $507.44 million. During the same quarter last year, the firm posted ($0.04) EPS. The business’s revenue was up 40.6% on a year-over-year basis. Equities research analysts predict that Workday will post $0.83 earnings per share for the current fiscal year.
In other news, Director David A. Duffield sold 3,997 shares of Workday stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $102.69, for a total value of $410,451.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Aneel Bhusri sold 11,091 shares of Workday stock in a transaction dated Monday, July 17th. The shares were sold at an average price of $102.70, for a total value of $1,139,045.70. The disclosure for this sale can be found here. Insiders sold a total of 1,574,566 shares of company stock valued at $170,342,437 in the last quarter. Company insiders own 37.71% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Workday by 8.5% during the 2nd quarter. Vanguard Group Inc. now owns 10,782,861 shares of the software maker’s stock worth $1,045,937,000 after acquiring an additional 846,809 shares in the last quarter. Tybourne Capital Management HK Ltd. raised its position in shares of Workday by 2.2% during the 2nd quarter. Tybourne Capital Management HK Ltd. now owns 2,935,961 shares of the software maker’s stock worth $284,788,000 after acquiring an additional 62,419 shares in the last quarter. State Street Corp raised its position in shares of Workday by 10.6% during the 1st quarter. State Street Corp now owns 2,288,030 shares of the software maker’s stock worth $190,552,000 after acquiring an additional 219,326 shares in the last quarter. Federated Investors Inc. PA raised its position in shares of Workday by 3.3% during the 2nd quarter. Federated Investors Inc. PA now owns 1,322,300 shares of the software maker’s stock worth $128,263,000 after acquiring an additional 41,800 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in shares of Workday during the 2nd quarter worth about $117,209,000. Institutional investors and hedge funds own 67.08% of the company’s stock.
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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