Workday (NASDAQ:WDAY – Free Report) had its price objective raised by Bank of America from $140.00 to $205.00 in a report published on Wednesday,Benzinga reports. Bank of America currently has a neutral rating on the software maker’s stock.
WDAY has been the topic of several other research reports. CLSA assumed coverage on Workday in a report on Monday, July 20th. They issued an “underperform” rating and a $92.00 price target on the stock. Robert W. Baird boosted their price objective on Workday from $190.00 to $215.00 and gave the stock an “outperform” rating in a report on Friday, August 14th. Barclays restated an “overweight” rating on shares of Workday in a research report on Wednesday. BTIG Research lowered shares of Workday from a “buy” rating to a “neutral” rating in a research note on Monday, August 17th. Finally, William Blair upgraded shares of Workday to a “strong-buy” rating in a research report on Friday, May 22nd. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $186.71.
Check Out Our Latest Report on WDAY
Workday Stock Up 1.4%
Workday (NASDAQ:WDAY – Get Free Report) last released its earnings results on Thursday, May 21st. The software maker reported $2.66 EPS for the quarter, beating the consensus estimate of $2.51 by $0.15. The company had revenue of $2.54 billion during the quarter, compared to analysts’ expectations of $2.52 billion. Workday had a return on equity of 14.75% and a net margin of 8.60%.The business’s revenue for the quarter was up 13.5% on a year-over-year basis. During the same period last year, the firm earned $2.23 EPS. On average, analysts anticipate that Workday will post 5.38 EPS for the current year.
Insiders Place Their Bets
In other Workday news, major shareholder David A. Duffield sold 107,500 shares of the business’s stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $136.74, for a total value of $14,699,550.00. Following the completion of the transaction, the insider directly owned 105,049 shares of the company’s stock, valued at approximately $14,364,400.26. The trade was a 50.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Robert Enslin sold 5,374 shares of the stock in a transaction dated Sunday, July 5th. The stock was sold at an average price of $134.90, for a total value of $724,952.60. Following the completion of the sale, the insider owned 239,469 shares of the company’s stock, valued at $32,304,368.10. This trade represents a 2.19% decrease in their ownership of the stock. 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 have sold 875,020 shares of company stock worth $113,938,503 over the last 90 days. 18.64% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Workday
Several institutional investors have recently modified their holdings of the business. Auto Owners Insurance Co increased its stake in Workday by 25,412.8% during the 4th quarter. Auto Owners Insurance Co now owns 10,230,616 shares of the software maker’s stock worth $2,197,332,000 after purchasing an additional 10,190,516 shares in the last quarter. Vanguard Group Inc. lifted its stake in Workday by 14.7% in the fourth quarter. Vanguard Group Inc. now owns 25,009,288 shares of the software maker’s stock valued at $5,371,495,000 after buying an additional 3,210,232 shares in the last quarter. Janus Henderson Group PLC lifted its stake in Workday by 101.4% in the fourth quarter. Janus Henderson Group PLC now owns 5,017,905 shares of the software maker’s stock valued at $1,077,537,000 after buying an additional 2,525,821 shares in the last quarter. Norges Bank acquired a new position in shares of Workday in the fourth quarter valued at approximately $448,804,000. Finally, First Eagle Investment Management LLC boosted its holdings in shares of Workday by 87.8% in the fourth quarter. First Eagle Investment Management LLC now owns 4,338,773 shares of the software maker’s stock valued at $931,882,000 after buying an additional 2,028,085 shares during the period. Institutional investors own 89.81% of the company’s stock.
Trending Headlines about Workday
Here are the key news stories impacting Workday this week:
- Positive Sentiment: Potential Silver Lake buyout: Workday is reportedly in discussions with Silver Lake regarding a possible acquisition. Although no deal has been confirmed, the prospect of a major software buyout has increased takeover speculation and provided a significant support for the stock. Workday: In Play Ahead Of Q2 Earnings And Amid Potential Buyout
- Positive Sentiment: More bullish analyst views: Barclays initiated or reiterated a Buy rating, while Bank of America raised its Workday price target as part of a broader software-sector upgrade. Analysts cited Workday’s potential to monetize artificial intelligence and benefit from continued demand for human-capital-management software. Workday Receives a Buy from Barclays ServiceNow, Adobe, Workday stocks get BofA PT boost
- Positive Sentiment: AI investment supports the long-term story: Workday’s AI Research team and new PhD fellowship are focused on improving enterprise AI’s memory, speed, accuracy, privacy and governance. Investors may view these efforts as strengthening the company’s competitive position and supporting future growth. Can Workday AI Research Unit Drive Sustainable Enterprise Growth?
- Neutral Sentiment: Upcoming earnings are a key catalyst: Workday is expected to report quarterly results next week, with Wall Street anticipating earnings growth. The report could determine whether the recent rally is supported by operating performance in addition to takeover speculation. Workday Reports Next Week
- Negative Sentiment: Valuation and growth concerns remain: Workday’s roughly 63% three-month rally has pushed valuation higher, while slower growth, market saturation and competition could limit further gains. Investors are also watching for an earnings beat, since some analysts argue the company may lack the indicators typically associated with one. Workday Stock Surges 63% in 3 Months
Workday Company Profile
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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