Workday (WDAY) Upgraded by ValuEngine to “Buy”

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ValuEngine upgraded shares of Workday (NASDAQ:WDAY) from a hold rating to a buy rating in a research note released on Monday.

WDAY has been the topic of a number of other reports. UBS Group lifted their price target on Workday to $145.00 and gave the stock an overweight rating in a report on Friday, June 1st. Monness Crespi & Hardt lifted their price target on Workday from $156.00 to $158.00 and gave the stock a buy rating in a report on Friday, June 1st. Piper Jaffray Companies reiterated an overweight rating and set a $150.00 price target (up from $140.00) on shares of Workday in a report on Friday, June 1st. BidaskClub upgraded Workday from a buy rating to a strong-buy rating in a report on Wednesday, March 7th. Finally, Moffett Nathanson reiterated a neutral rating on shares of Workday in a report on Friday, June 1st. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and twenty have assigned a buy rating to the company’s stock. Workday has a consensus rating of Buy and an average price target of $127.87.

Shares of Workday opened at $126.39 on Monday, Marketbeat reports. Workday has a 12 month low of $95.35 and a 12 month high of $140.00. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.57.

Workday (NASDAQ:WDAY) last issued its quarterly earnings results on Thursday, May 31st. The software maker reported $0.33 EPS for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.07. The business had revenue of $619.00 million for the quarter, compared to analyst estimates of $609.66 million. Workday had a negative return on equity of 14.60% and a negative net margin of 14.53%. Workday’s quarterly revenue was up 29.0% compared to the same quarter last year. During the same period last year, the company posted $0.29 earnings per share. sell-side analysts expect that Workday will post -0.78 earnings per share for the current year.

In related news, insider Gomez Luciano Fernandez sold 1,543 shares of the business’s stock in a transaction dated Monday, April 16th. The stock was sold at an average price of $126.90, for a total transaction of $195,806.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP James P. Shaughnessy sold 7,203 shares of the business’s stock in a transaction dated Monday, April 16th. The stock was sold at an average price of $126.99, for a total value of $914,708.97. The disclosure for this sale can be found here. Over the last quarter, insiders sold 569,160 shares of company stock valued at $72,927,875. 33.59% of the stock is owned by company insiders.

A number of institutional investors have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company grew its position in Workday by 1.3% during the first quarter. The Manufacturers Life Insurance Company now owns 3,090,009 shares of the software maker’s stock worth $392,772,000 after buying an additional 39,749 shares in the last quarter. Franklin Resources Inc. grew its position in Workday by 19.7% during the first quarter. Franklin Resources Inc. now owns 1,342,790 shares of the software maker’s stock worth $170,682,000 after buying an additional 220,640 shares in the last quarter. Federated Investors Inc. PA grew its position in Workday by 22.3% during the first quarter. Federated Investors Inc. PA now owns 1,296,567 shares of the software maker’s stock worth $164,807,000 after buying an additional 236,811 shares in the last quarter. Two Sigma Advisers LP grew its position in Workday by 6.6% during the fourth quarter. Two Sigma Advisers LP now owns 1,129,457 shares of the software maker’s stock worth $114,911,000 after buying an additional 69,700 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its position in Workday by 11.1% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 644,255 shares of the software maker’s stock worth $81,891,000 after buying an additional 64,608 shares in the last quarter. Institutional investors and hedge funds own 68.73% of the company’s stock.

About Workday

Workday, Inc provides enterprise cloud applications for finance and human resources worldwide. It provides applications for customers to manage critical business functions to optimize their financial and human capital resources. The company offers Workday Financial Management application that provides functions of general ledger, accounting, accounts payable and receivable, cash and asset management, employee expense and revenue management, projects, procurement, inventory, and grants management.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Workday (NASDAQ:WDAY)

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