Wedbush reiterated their neutral rating on shares of Workday (NASDAQ:WDAY) in a research report sent to investors on Thursday, RTT News reports. The brokerage currently has a $209.00 price objective on the software maker’s stock.
Other research analysts have also recently issued reports about the company. Monness Crespi & Hardt reaffirmed a buy rating and set a $220.00 price objective (up from $185.00) on shares of Workday in a research note on Tuesday, February 26th. Bank of America reaffirmed a buy rating and set a $208.00 price objective (up from $175.00) on shares of Workday in a research note on Friday, March 1st. Needham & Company LLC reaffirmed a buy rating and set a $230.00 price objective (up from $170.00) on shares of Workday in a research note on Friday, March 1st. KeyCorp reaffirmed a buy rating and set a $235.00 price objective on shares of Workday in a research note on Wednesday. Finally, Barclays raised their price objective on Workday from $180.00 to $187.00 and gave the company an equal weight rating in a research note on Friday, March 1st. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have given a buy rating and two have given a strong buy rating to the company. The company has an average rating of Buy and an average price target of $186.00.
Shares of NASDAQ:WDAY traded up $4.97 on Thursday, reaching $210.29. 221,093 shares of the company traded hands, compared to its average volume of 1,791,645. Workday has a 52 week low of $117.24 and a 52 week high of $213.98. The stock has a market capitalization of $46.71 billion, a P/E ratio of -172.37 and a beta of 1.79. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.50.
Workday (NASDAQ:WDAY) last announced its quarterly earnings data on Thursday, February 28th. The software maker reported ($0.29) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.31) by $0.02. Workday had a negative return on equity of 14.75% and a negative net margin of 14.82%. The firm had revenue of $788.63 million for the quarter, compared to analysts’ expectations of $776.84 million. As a group, research analysts predict that Workday will post -1.2 EPS for the current year.
In other news, Director David A. Duffield sold 1,054 shares of the stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $205.21, for a total transaction of $216,291.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Aneel Bhusri sold 300,000 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $179.58, for a total transaction of $53,874,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,126,562 shares of company stock valued at $208,547,706. 29.80% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of WDAY. Legal & General Group Plc lifted its holdings in Workday by 2.0% during the 3rd quarter. Legal & General Group Plc now owns 547,832 shares of the software maker’s stock worth $79,972,000 after buying an additional 10,756 shares during the period. Vanguard Group Inc increased its position in Workday by 0.8% in the 3rd quarter. Vanguard Group Inc now owns 12,604,769 shares of the software maker’s stock valued at $1,840,044,000 after buying an additional 98,167 shares in the last quarter. Virtu Financial LLC bought a new stake in Workday in the 4th quarter valued at about $507,000. Nisa Investment Advisors LLC increased its position in Workday by 633.2% in the 4th quarter. Nisa Investment Advisors LLC now owns 10,265 shares of the software maker’s stock valued at $1,639,000 after buying an additional 8,865 shares in the last quarter. Finally, Bank of Montreal Can increased its position in Workday by 7.2% in the 4th quarter. Bank of Montreal Can now owns 134,223 shares of the software maker’s stock valued at $21,433,000 after buying an additional 9,023 shares in the last quarter. Institutional investors and hedge funds own 85.43% of the company’s stock.
Workday, Inc provides enterprise cloud applications worldwide. Its applications help its customers to manage critical business functions and 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, revenue management, and grants management, as well as project and resource management, time and expense tracking, project billing, revenue recognition, financial reporting, and analytics.
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