Workday (WDAY) Upgraded to “Buy” by BidaskClub

Workday (NASDAQ:WDAY) was upgraded by stock analysts at BidaskClub from a “hold” rating to a “buy” rating in a report released on Wednesday.

Several other brokerages have also recently issued reports on WDAY. Cleveland Research initiated coverage on Workday in a research note on Wednesday, January 31st. They issued a “buy” rating for the company. Bank of America raised their price objective on Workday from $123.00 to $134.00 and gave the stock a “buy” rating in a research note on Monday, November 27th. JPMorgan Chase & Co. restated a “buy” rating and issued a $120.00 price objective on shares of Workday in a research note on Tuesday, November 28th. Guggenheim restated a “hold” rating and issued a $106.00 price objective on shares of Workday in a research note on Thursday, January 11th. Finally, UBS Group restated a “sell” rating and issued a $95.00 price objective (down from $121.00) on shares of Workday in a research note on Thursday, November 9th. Two analysts have rated the stock with a sell rating, twenty have given a hold rating and seventeen have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $106.81.

Shares of Workday (NASDAQ:WDAY) opened at $116.07 on Wednesday. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $24,140.00, a PE ratio of -80.60 and a beta of 2.01. Workday has a twelve month low of $80.61 and a twelve month high of $121.98.

Workday (NASDAQ:WDAY) last issued its quarterly earnings results on Wednesday, November 29th. The software maker reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.10. The business had revenue of $555.40 million during the quarter, compared to the consensus estimate of $541.05 million. Workday had a negative return on equity of 19.73% and a negative net margin of 16.91%. The company’s quarterly revenue was up 35.6% on a year-over-year basis. During the same quarter last year, the company earned $0.03 earnings per share. sell-side analysts forecast that Workday will post -1.1 EPS for the current year.

In other news, CEO Aneel Bhusri sold 75,000 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $100.34, for a total value of $7,525,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Robynne Sisco sold 5,061 shares of the business’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $110.53, for a total value of $559,392.33. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,197,306 shares of company stock valued at $126,753,397. 37.71% of the stock is owned by company insiders.

Institutional investors have recently bought and sold shares of the company. Winfield Associates Inc. increased its position in shares of Workday by 136.4% in the second quarter. Winfield Associates Inc. now owns 1,040 shares of the software maker’s stock valued at $101,000 after buying an additional 600 shares in the last quarter. First Personal Financial Services increased its position in shares of Workday by 21.2% in the second quarter. First Personal Financial Services now owns 1,057 shares of the software maker’s stock valued at $103,000 after buying an additional 185 shares in the last quarter. Global X Management Co. LLC increased its position in shares of Workday by 9.3% in the second quarter. Global X Management Co. LLC now owns 1,136 shares of the software maker’s stock valued at $110,000 after buying an additional 97 shares in the last quarter. IFP Advisors Inc increased its position in shares of Workday by 17.6% in the second quarter. IFP Advisors Inc now owns 1,176 shares of the software maker’s stock valued at $114,000 after buying an additional 176 shares in the last quarter. Finally, Advisor Group Inc. increased its position in shares of 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 in the last quarter. Institutional investors and hedge funds own 66.90% of the company’s stock.

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About Workday

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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