Workday (WDAY) Earns Hold Rating from Jefferies Group

Workday (NASDAQ:WDAY)‘s stock had its “hold” rating reissued by equities researchers at Jefferies Group in a report issued on Friday. They presently have a $101.00 price target on the software maker’s stock. Jefferies Group’s price objective would indicate a potential downside of 1.94% from the stock’s current price.

Several other research firms have also issued reports on WDAY. Royal Bank Of Canada reissued a “buy” rating and issued a $106.00 price target on shares of Workday in a research report on Sunday, August 6th. BidaskClub raised shares of Workday from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 8th. BMO Capital Markets upped their target price on shares of Workday from $105.00 to $110.00 and gave the stock a “market perform” rating in a report on Thursday, August 17th. Stifel Nicolaus reaffirmed a “hold” rating and set a $92.00 target price on shares of Workday in a report on Tuesday, August 22nd. Finally, Piper Jaffray Companies reissued a “buy” rating and issued a $115.00 price target on shares of Workday in a research note on Tuesday, August 22nd. Five analysts have rated the stock with a sell rating, twenty-two have given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. Workday currently has an average rating of “Hold” and an average price target of $102.73.

Workday (NASDAQ:WDAY) opened at $103.00 on Friday. Workday has a twelve month low of $65.79 and a twelve month high of $116.89. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.16.

Workday (NASDAQ:WDAY) last issued its quarterly earnings results on Wednesday, November 29th. The software maker reported $0.24 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.10. Workday had a negative return on equity of 24.07% and a negative net margin of 19.78%. The company had revenue of $555.40 million for the quarter, compared to the consensus estimate of $541.05 million. During the same period last year, the business posted $0.03 earnings per share. The firm’s revenue was up 35.6% compared to the same quarter last year. sell-side analysts expect that Workday will post -1.33 earnings per share for the current fiscal year.

In other news, Director David A. Duffield sold 457,386 shares of the company’s stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $109.35, for a total transaction of $50,015,159.10. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO James Bozzini sold 13,700 shares of the company’s stock in a transaction dated Wednesday, September 27th. The shares were sold at an average price of $99.99, for a total transaction of $1,369,863.00. The disclosure for this sale can be found here. Insiders sold 1,456,940 shares of company stock valued at $157,952,124 over the last quarter. 37.71% of the stock is currently owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC purchased a new position in shares of Workday during the 2nd quarter valued at approximately $117,209,000. Janus Henderson Group PLC boosted its stake in shares of Workday by 6,210.6% in the 2nd quarter. Janus Henderson Group PLC now owns 1,038,153 shares of the software maker’s stock valued at $100,701,000 after buying an additional 1,021,702 shares during the period. 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. Balyasny Asset Management LLC increased its position in Workday by 492.8% during the second quarter. Balyasny Asset Management LLC now owns 383,164 shares of the software maker’s stock worth $37,167,000 after buying an additional 318,523 shares during the period. Finally, AO Asset Management LLC acquired a new position in shares of Workday in the second quarter valued at approximately $26,306,000. Institutional investors and hedge funds own 67.56% of the company’s stock.

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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.

Analyst Recommendations for Workday (NASDAQ:WDAY)

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