Workday (NASDAQ:WDAY) had its target price lowered by analysts at Wedbush from $195.00 to $190.00 in a research note issued on Wednesday, AnalystRatings.com reports. The brokerage presently has a “neutral” rating on the software maker’s stock. Wedbush’s price target points to a potential upside of 18.03% from the company’s previous close.
A number of other research firms have also recently issued reports on WDAY. Citigroup upgraded shares of Workday from a “sell” rating to a “neutral” rating and upped their price target for the company from $138.00 to $192.00 in a report on Friday, August 30th. BMO Capital Markets dropped their price objective on Workday from $230.00 to $225.00 and set a “market perform” rating on the stock in a research note on Friday, August 30th. ValuEngine raised Workday from a “hold” rating to a “buy” rating in a research report on Tuesday. Barclays set a $175.00 target price on Workday and gave the company a “hold” rating in a research note on Friday, November 1st. Finally, Monness Crespi & Hardt set a $262.00 target price on Workday and gave the company a “buy” rating in a research note on Friday, August 30th. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-one have given a buy rating to the company. Workday currently has a consensus rating of “Hold” and an average target price of $208.06.
NASDAQ:WDAY opened at $160.97 on Wednesday. The company’s 50 day moving average is $165.19 and its 200-day moving average is $188.12. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.11. Workday has a 12 month low of $141.70 and a 12 month high of $226.83. The firm has a market cap of $40.84 billion, a price-to-earnings ratio of -131.94 and a beta of 1.54.
Workday (NASDAQ:WDAY) last posted its earnings results on Tuesday, December 3rd. The software maker reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.16. The business had revenue of $938.10 million for the quarter, compared to analyst estimates of $920.65 million. Workday had a negative net margin of 15.25% and a negative return on equity of 15.05%. Workday’s revenue was up 26.2% compared to the same quarter last year. During the same period last year, the business posted $0.31 EPS. Research analysts predict that Workday will post -1.17 EPS for the current fiscal year.
In related news, CEO Aneel Bhusri sold 6,355 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $184.02, for a total value of $1,169,447.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David A. Duffield sold 175,000 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $171.71, for a total transaction of $30,049,250.00. The disclosure for this sale can be found here. Insiders sold a total of 509,292 shares of company stock worth $86,126,565 in the last three months. Insiders own 29.80% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Workday by 7.7% in the 2nd quarter. Vanguard Group Inc. now owns 9,609,541 shares of the software maker’s stock worth $1,975,530,000 after purchasing an additional 683,181 shares during the last quarter. Nuveen Asset Management LLC grew its stake in Workday by 19,929.2% during the second quarter. Nuveen Asset Management LLC now owns 547,999 shares of the software maker’s stock worth $112,658,000 after buying an additional 545,263 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in Workday by 55.1% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 889,005 shares of the software maker’s stock worth $151,095,000 after buying an additional 315,764 shares during the last quarter. Nikko Asset Management Americas Inc. acquired a new stake in shares of Workday during the third quarter worth approximately $44,215,000. Finally, Whale Rock Capital Management LLC increased its holdings in shares of Workday by 52.6% during the second quarter. Whale Rock Capital Management LLC now owns 572,963 shares of the software maker’s stock worth $117,790,000 after buying an additional 197,394 shares in the last quarter. Institutional investors own 67.09% 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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