Piper Jaffray Companies reaffirmed their overweight rating on shares of Workday (NASDAQ:WDAY) in a report issued on Wednesday morning, Marketbeat Ratings reports. They currently have a $160.00 price objective on the software maker’s stock, up from their previous price objective of $150.00.
Several other equities analysts also recently commented on the stock. BidaskClub upgraded shares of Workday from a hold rating to a buy rating in a research note on Tuesday. ValuEngine upgraded shares of Workday from a hold rating to a buy rating in a research note on Monday, July 2nd. Moffett Nathanson restated a neutral rating on shares of Workday in a research note on Friday, June 1st. Credit Suisse Group boosted their price target on shares of Workday from $110.00 to $120.00 and gave the stock a neutral rating in a research note on Friday, June 1st. Finally, Barclays dropped their price target on shares of Workday from $129.00 to $128.00 and set an equal weight rating for the company in a research note on Friday, June 1st. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and twenty have assigned a buy rating to the stock. The stock presently has an average rating of Buy and a consensus price target of $128.19.
NASDAQ:WDAY opened at $142.65 on Wednesday. The firm has a market capitalization of $29.63 billion, a price-to-earnings ratio of -112.32 and a beta of 1.83. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.77 and a quick ratio of 1.77. Workday has a 52 week low of $95.35 and a 52 week high of $142.77.
Workday (NASDAQ:WDAY) last posted its quarterly earnings results on Thursday, May 31st. The software maker reported $0.33 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.07. The business had revenue of $619.00 million during the quarter, compared to the consensus estimate of $609.66 million. Workday had a negative net margin of 14.53% and a negative return on equity of 14.60%. The company’s quarterly revenue was up 29.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.29 earnings per share. sell-side analysts anticipate that Workday will post -0.78 earnings per share for the current fiscal year.
In related news, SVP James P. Shaughnessy sold 2,178 shares of the business’s stock in a transaction on Monday, July 16th. The shares were sold at an average price of $134.53, for a total value of $293,006.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Aneel Bhusri sold 75,000 shares of the business’s stock in a transaction on Tuesday, June 5th. The shares were sold at an average price of $128.68, for a total transaction of $9,651,000.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 922,773 shares of company stock valued at $118,117,147. 33.59% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Twin Tree Management LP lifted its position in Workday by 112.5% in the first quarter. Twin Tree Management LP now owns 957 shares of the software maker’s stock valued at $122,000 after acquiring an additional 8,609 shares during the last quarter. Northstar Capital Management LLC purchased a new stake in Workday in the first quarter valued at $133,000. Nisa Investment Advisors LLC lifted its position in Workday by 55.6% in the second quarter. Nisa Investment Advisors LLC now owns 1,400 shares of the software maker’s stock valued at $170,000 after acquiring an additional 500 shares during the last quarter. Cerebellum GP LLC purchased a new stake in Workday in the second quarter valued at $183,000. Finally, Mirador Capital Partners LP purchased a new stake in Workday in the second quarter valued at $200,000. 69.02% of the stock is owned by hedge funds and other institutional investors.
Workday Company Profile
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.
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