Sanford C. Bernstein upgraded shares of Workday (NASDAQ:WDAY) from a market perform rating to an outperform rating in a research note released on Wednesday, MarketBeat Ratings reports. They currently have $165.00 price objective on the software maker’s stock.
A number of other analysts have also commented on WDAY. ValuEngine upgraded shares of Workday from a hold rating to a buy rating in a research note on Monday, July 2nd. BidaskClub upgraded shares of Workday from a hold rating to a buy rating in a research note on Saturday, July 14th. Piper Jaffray Companies reiterated an overweight rating and issued a $160.00 target price (up previously from $150.00) on shares of Workday in a research note on Wednesday, August 15th. Guggenheim began coverage on shares of Workday in a research note on Monday, August 20th. They issued a buy rating and a $175.00 target price for the company. Finally, Needham & Company LLC upped their target price on shares of Workday from $150.00 to $170.00 and gave the stock a buy rating in a research note on Wednesday, August 22nd. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. Workday presently has an average rating of Buy and a consensus target price of $147.14.
Shares of WDAY stock opened at $127.70 on Wednesday. The company has a quick ratio of 1.89, a current ratio of 1.89 and a debt-to-equity ratio of 0.54. Workday has a 12 month low of $95.35 and a 12 month high of $157.12.
Workday (NASDAQ:WDAY) last announced its quarterly earnings results on Tuesday, September 4th. The software maker reported $0.31 EPS for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.05. The business had revenue of $671.70 million during the quarter, compared to analyst estimates of $663.38 million. Workday had a negative net margin of 13.81% and a negative return on equity of 13.36%. Workday’s quarterly revenue was up 27.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.24 EPS. Analysts forecast that Workday will post -1.11 EPS for the current year.
In related news, CEO Aneel Bhusri sold 75,000 shares of the business’s stock in a transaction dated Thursday, September 6th. The shares were sold at an average price of $144.66, for a total value of $10,849,500.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director David A. Duffield sold 374,488 shares of the business’s stock in a transaction dated Monday, October 8th. The stock was sold at an average price of $133.55, for a total transaction of $50,012,872.40. The disclosure for this sale can be found here. Insiders sold a total of 503,782 shares of company stock worth $68,244,014 over the last three months. 33.59% of the stock is owned by insiders.
Several large investors have recently modified their holdings of the stock. First Trust Advisors LP boosted its holdings in shares of Workday by 43.3% in the 2nd quarter. First Trust Advisors LP now owns 989,908 shares of the software maker’s stock worth $119,898,000 after buying an additional 299,251 shares during the last quarter. Northern Trust Corp lifted its holdings in Workday by 5.7% during the second quarter. Northern Trust Corp now owns 951,716 shares of the software maker’s stock valued at $115,272,000 after purchasing an additional 51,341 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in Workday by 5.0% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 676,374 shares of the software maker’s stock valued at $81,922,000 after purchasing an additional 32,119 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Workday by 0.6% during the second quarter. Bank of New York Mellon Corp now owns 601,331 shares of the software maker’s stock valued at $72,833,000 after purchasing an additional 3,678 shares during the last quarter. Finally, Swiss National Bank lifted its holdings in Workday by 3.1% during the second quarter. Swiss National Bank now owns 453,200 shares of the software maker’s stock valued at $54,892,000 after purchasing an additional 13,700 shares during the last quarter. 67.60% of the stock is currently owned by institutional investors.
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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