Workday (WDAY) Upgraded at Needham & Company LLC

Workday (NASDAQ:WDAY) was upgraded by research analysts at Needham & Company LLC from a “hold” rating to a “buy” rating in a research note issued to investors on Monday, Marketbeat Ratings reports. The firm presently has a $130.00 target price on the software maker’s stock. Needham & Company LLC’s target price points to a potential upside of 12.43% from the stock’s current price.

Other equities research analysts also recently issued research reports about the stock. Drexel Hamilton reiterated a “buy” rating and set a $133.00 target price on shares of Workday in a research note on Wednesday, November 29th. JPMorgan Chase & Co. reiterated a “buy” rating and set a $120.00 target price on shares of Workday in a research note on Tuesday, November 28th. Bank of America increased their target price on shares of Workday from $123.00 to $134.00 and gave the stock a “buy” rating in a research note on Monday, November 27th. Robert W. Baird reiterated a “buy” rating and set a $114.00 target price on shares of Workday in a research note on Friday, November 10th. Finally, Piper Jaffray Companies reiterated a “buy” rating and set a $125.00 target price on shares of Workday in a research note on Tuesday, October 17th. Two equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and eighteen have given a buy rating to the company. Workday presently has a consensus rating of “Hold” and an average target price of $107.52.

Workday (WDAY) traded up $2.67 during midday trading on Monday, reaching $115.63. 1,522,263 shares of the company’s stock traded hands, compared to its average volume of 1,611,654. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 0.74. Workday has a one year low of $80.61 and a one year high of $121.98. The firm has a market capitalization of $24,300.00, a P/E ratio of -80.30 and a beta of 2.01.

Workday (NASDAQ:WDAY) last announced its 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. Workday had a negative net margin of 16.91% and a negative return on equity of 19.73%. The business had revenue of $555.40 million during the quarter, compared to the consensus estimate of $541.05 million. During the same quarter in the prior year, the firm earned $0.03 earnings per share. The business’s quarterly revenue was up 35.6% compared to the same quarter last year. sell-side analysts anticipate that Workday will post -1.1 earnings per share for the current year.

In other Workday news, insider Mark S. Peek sold 17,916 shares of the stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $112.02, for a total value of $2,006,950.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Aneel Bhusri sold 75,000 shares of the stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $100.34, for a total transaction of $7,525,500.00. The disclosure for this sale can be found here. Insiders have sold 1,197,306 shares of company stock valued at $126,753,397 over the last three months. 37.71% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently modified their holdings of WDAY. Advisor Group Inc. increased its holdings in Workday by 22.5% in the second quarter. Advisor Group Inc. now owns 1,283 shares of the software maker’s stock valued at $123,000 after buying an additional 236 shares in the last quarter. Parametric Portfolio Associates LLC increased its stake in shares of Workday by 14.8% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 89,144 shares of the software maker’s stock worth $8,647,000 after purchasing an additional 11,484 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Workday by 2.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 101,724 shares of the software maker’s stock worth $9,867,000 after purchasing an additional 2,797 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in shares of Workday by 6.3% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 7,862 shares of the software maker’s stock worth $763,000 after purchasing an additional 464 shares in the last quarter. Finally, Bank of Nova Scotia purchased a new position in shares of Workday during the 2nd quarter worth approximately $3,457,000. 66.89% of the stock is owned by institutional investors.

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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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