Sanford C. Bernstein upgraded shares of Workday (NASDAQ:WDAY) from a market perform rating to an outperform rating in a research note issued to investors on Wednesday morning, Marketbeat Ratings reports. They currently have $165.00 price target on the software maker’s stock.
WDAY has been the subject of several other research reports. BidaskClub raised Workday from a hold rating to a buy rating in a research note on Tuesday, August 14th. Royal Bank of Canada boosted their target price on shares of Workday to $159.00 and gave the company an outperform rating in a research note on Thursday, August 23rd. Monness Crespi & Hardt boosted their target price on shares of Workday from $158.00 to $175.00 and gave the company a buy rating in a research note on Wednesday, September 5th. UBS Group boosted their target price on shares of Workday to $169.00 and gave the company a positive rating in a research note on Tuesday, September 4th. Finally, Piper Jaffray Companies boosted their target price on shares of Workday to $170.00 and gave the company an overweight rating in a research note on Wednesday, September 5th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of Buy and a consensus target price of $147.14.
Shares of NASDAQ:WDAY traded down $7.12 during midday trading on Wednesday, hitting $130.13. 58,892 shares of the stock were exchanged, compared to its average volume of 1,780,137. The company has a market capitalization of $31.68 billion, a PE ratio of -105.34 and a beta of 2.01. 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 twelve month low of $95.35 and a twelve month high of $157.12.
Workday (NASDAQ:WDAY) last released its quarterly earnings results on Tuesday, September 4th. The software maker reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.05. The business had revenue of $671.70 million during the quarter, compared to the consensus estimate of $663.38 million. Workday had a negative return on equity of 13.36% and a negative net margin of 13.81%. The business’s revenue was up 27.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.24 EPS. As a group, equities analysts anticipate that Workday will post -1.11 earnings per share for the current year.
In other Workday news, insider Robynne Sisco sold 6,281 shares of Workday stock in a transaction dated Monday, October 15th. The stock was sold at an average price of $127.25, for a total value of $799,257.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP James P. Shaughnessy sold 4,800 shares of Workday stock in a transaction dated Wednesday, October 10th. The shares were sold at an average price of $126.87, for a total value of $608,976.00. Following the completion of the sale, the senior vice president now owns 70,225 shares of the company’s stock, valued at approximately $8,909,445.75. The disclosure for this sale can be found here. Insiders sold a total of 503,782 shares of company stock valued at $68,244,014 in the last 90 days. 33.59% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of WDAY. MUFG Securities EMEA plc purchased a new stake in Workday in the 2nd quarter valued at about $448,000. First Trust Advisors LP grew its holdings in Workday by 43.3% in the 2nd quarter. First Trust Advisors LP now owns 989,908 shares of the software maker’s stock valued at $119,898,000 after buying an additional 299,251 shares during the period. Los Angeles Capital Management & Equity Research Inc. grew its holdings in Workday by 1,077.7% in the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 286,841 shares of the software maker’s stock valued at $34,742,000 after buying an additional 262,485 shares during the period. Ardevora Asset Management LLP grew its holdings in Workday by 254.7% in the 2nd quarter. Ardevora Asset Management LLP now owns 278,326 shares of the software maker’s stock valued at $33,711,000 after buying an additional 199,856 shares during the period. Finally, Scout Investments Inc. purchased a new stake in Workday in the 3rd quarter valued at about $21,033,000. Institutional investors own 67.50% of the company’s stock.
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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