Workday Inc (NYSE:WDAY)‘s stock had its “buy” rating reaffirmed by investment analysts at Canaccord Genuity in a research note issued to investors on Friday. They presently have a $125.00 price target on the software maker’s stock. Canaccord Genuity’s price target suggests a potential upside of 13.40% from the company’s previous close.
A number of other brokerages have also recently issued reports on WDAY. Stifel Nicolaus reissued a “hold” rating and set a $92.00 price objective on shares of Workday in a report on Tuesday, August 22nd. Robert W. Baird reissued a “buy” rating on shares of Workday in a report on Friday. Piper Jaffray Companies reissued a “buy” rating and set a $115.00 price objective on shares of Workday in a report on Tuesday, August 22nd. BidaskClub raised Workday from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 8th. Finally, BMO Capital Markets increased their price objective on Workday from $105.00 to $110.00 and gave the stock a “market perform” rating in a report on Thursday, August 17th. Four equities research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and sixteen have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $99.06.
Shares of Workday (WDAY) opened at 110.23 on Friday. The firm’s market cap is $22.93 billion. The stock’s 50 day moving average price is $105.27 and its 200-day moving average price is $97.57. Workday has a 12-month low of $65.79 and a 12-month high of $111.45.
Workday (NYSE:WDAY) last posted its quarterly earnings results on Wednesday, August 30th. The software maker reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.09. The company had revenue of $525.30 million during the quarter, compared to the consensus estimate of $507.44 million. Workday had a negative return on equity of 24.60% and a negative net margin of 15.71%. The firm’s quarterly revenue was up 40.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.04) EPS. On average, analysts predict that Workday will post $0.83 earnings per share for the current fiscal year.
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In other news, CFO Robynne Sisco sold 1,470 shares of Workday stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $101.70, for a total value of $149,499.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director David A. Duffield sold 457,386 shares of Workday stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $109.35, for a total value of $50,015,159.10. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,078,695 shares of company stock worth $112,531,033. Corporate insiders own 37.71% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Winfield Associates Inc. lifted its stake in shares of Workday by 136.4% in the 2nd quarter. Winfield Associates Inc. now owns 1,040 shares of the software maker’s stock valued at $101,000 after purchasing an additional 600 shares during the period. Sumitomo Mitsui Asset Management Company LTD lifted its stake in shares of Workday by 47.0% in the 2nd quarter. Sumitomo Mitsui Asset Management Company LTD now owns 573,715 shares of the software maker’s stock valued at $55,650,000 after purchasing an additional 183,444 shares during the period. First Trust Advisors LP lifted its stake in shares of Workday by 338.4% in the 2nd quarter. First Trust Advisors LP now owns 64,106 shares of the software maker’s stock valued at $6,218,000 after purchasing an additional 49,483 shares during the period. Prudential Financial Inc. lifted its stake in shares of Workday by 18.2% in the 1st quarter. Prudential Financial Inc. now owns 4,030 shares of the software maker’s stock valued at $336,000 after purchasing an additional 620 shares during the period. Finally, Teachers Advisors LLC lifted its stake in shares of Workday by 15.3% in the 2nd quarter. Teachers Advisors LLC now owns 201,054 shares of the software maker’s stock valued at $19,502,000 after purchasing an additional 26,700 shares during the period. Hedge funds and other institutional investors own 67.08% of the company’s stock.
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.
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