Workday (NASDAQ:WDAY – Get Free Report) was upgraded by stock analysts at Monness Crespi & Hardt from a “neutral” rating to a “buy” rating in a research note issued on Thursday, Marketbeat.com reports. The firm presently has a $150.00 price target on the software maker’s stock. Monness Crespi & Hardt’s price objective would indicate a potential upside of 27.01% from the stock’s current price.
Other analysts have also issued research reports about the stock. Wells Fargo & Company raised their target price on shares of Workday from $180.00 to $185.00 and gave the company an “overweight” rating in a research report on Friday, May 22nd. Loop Capital set a $210.00 price objective on Workday in a report on Thursday, March 12th. Cantor Fitzgerald restated an “overweight” rating on shares of Workday in a research report on Wednesday, June 17th. The Goldman Sachs Group lowered their target price on Workday from $206.00 to $151.00 and set a “neutral” rating for the company in a report on Tuesday, May 26th. Finally, UBS Group increased their target price on Workday from $130.00 to $140.00 and gave the company a “neutral” rating in a research report on Friday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $184.00.
View Our Latest Analysis on WDAY
Workday Stock Up 2.6%
Workday (NASDAQ:WDAY – Get Free Report) last posted its quarterly earnings results on Thursday, May 21st. The software maker reported $2.66 earnings per share for the quarter, beating analysts’ consensus estimates of $2.51 by $0.15. The company had revenue of $2.54 billion for the quarter, compared to the consensus estimate of $2.52 billion. Workday had a net margin of 8.60% and a return on equity of 14.75%. The firm’s quarterly revenue was up 13.5% compared to the same quarter last year. During the same period last year, the company posted $2.23 EPS. As a group, analysts forecast that Workday will post 5.34 earnings per share for the current fiscal year.
Insider Activity
In related news, major shareholder David A. Duffield sold 107,500 shares of the business’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $114.25, for a total value of $12,281,875.00. Following the transaction, the insider owned 105,049 shares in the company, valued at $12,001,848.25. The trade was a 50.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Robert Enslin sold 5,373 shares of the company’s stock in a transaction on Monday, April 6th. The shares were sold at an average price of $129.41, for a total transaction of $695,319.93. Following the sale, the insider directly owned 165,414 shares in the company, valued at $21,406,225.74. This trade represents a 3.15% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 774,814 shares of company stock worth $99,846,591 over the last ninety days. Corporate insiders own 18.64% of the company’s stock.
Hedge Funds Weigh In On Workday
Several institutional investors have recently added to or reduced their stakes in the business. Rakuten Securities Inc. bought a new stake in shares of Workday in the 2nd quarter valued at $25,000. Measured Wealth Private Client Group LLC bought a new position in Workday during the third quarter worth $26,000. DT Investment Partners LLC acquired a new stake in Workday in the fourth quarter worth $27,000. LRI Investments LLC bought a new stake in Workday in the fourth quarter valued at $29,000. Finally, JPL Wealth Management LLC acquired a new position in shares of Workday during the third quarter valued at about $30,000. 89.81% of the stock is owned by institutional investors and hedge funds.
About Workday
Workday, Inc (NASDAQ: WDAY) is a provider of cloud-based enterprise applications focused on human capital management (HCM) and financial management. Founded in 2005 by Dave Duffield and Aneel Bhusri following their tenure at PeopleSoft, the company develops software-as-a-service solutions that help organizations manage workforce and financial processes in a unified, cloud-native environment. Workday’s platform emphasizes continuous updates, data security, and a configurable architecture aimed at large and mid-sized enterprises.
The company’s product portfolio centers on Workday Human Capital Management and Workday Financial Management, with additional offerings for payroll, talent management, workforce planning and analytics.
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