Workday Inc. (WDAY) Rating Increased to Neutral at Wedbush
Workday Inc. (NYSE:WDAY) was upgraded by equities researchers at Wedbush from an “underperform” rating to a “neutral” rating in a report issued on Wednesday. The firm presently has a $82.00 target price on the stock, up from their previous target price of $69.00. Wedbush’s price objective points to a potential downside of 8.68% from the stock’s previous close.
Several other research analysts have also issued reports on WDAY. Royal Bank Of Canada reissued a “buy” rating on shares of Workday in a research report on Tuesday, May 31st. Citigroup Inc. reaffirmed a “buy” rating and set a $87.00 price objective on shares of Workday in a report on Wednesday, June 1st. Jefferies Group reaffirmed a “hold” rating on shares of Workday in a report on Wednesday, June 1st. Canaccord Genuity reaffirmed a “buy” rating and set a $85.00 price objective (up previously from $75.00) on shares of Workday in a report on Wednesday, June 1st. Finally, Barclays PLC reaffirmed a “hold” rating and set a $80.00 price objective (down previously from $84.00) on shares of Workday in a report on Wednesday, June 1st. Two research analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and seventeen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $84.65.
Workday (NYSE:WDAY) opened at 89.79 on Wednesday. The company’s market cap is $17.96 billion. The firm has a 50 day moving average price of $85.70 and a 200 day moving average price of $78.87. Workday has a 12-month low of $47.32 and a 12-month high of $90.88.
Workday (NYSE:WDAY) last posted its quarterly earnings results on Wednesday, August 24th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.02) by $0.02. Workday had a negative return on equity of 26.89% and a negative net margin of 25.71%. The business earned $377.70 million during the quarter, compared to analyst estimates of $372.68 million. During the same period last year, the company earned $0.02 EPS. The business’s revenue for the quarter was up 33.6% on a year-over-year basis. On average, analysts anticipate that Workday will post ($0.04) earnings per share for the current fiscal year.
In other news, CEO Aneel Bhusri sold 10,353 shares of Workday stock in a transaction dated Friday, July 15th. The shares were sold at an average price of $79.06, for a total value of $818,508.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP James P. Shaughnessy sold 11,750 shares of Workday stock in a transaction dated Friday, July 1st. The shares were sold at an average price of $74.56, for a total transaction of $876,080.00. The disclosure for this sale can be found here. 41.78% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in WDAY. Tybourne Capital Management HK Ltd. increased its position in shares of Workday by 139.6% in the first quarter. Tybourne Capital Management HK Ltd. now owns 2,955,095 shares of the company’s stock worth $227,069,000 after buying an additional 1,721,958 shares during the period. Vanguard Group Inc. increased its position in shares of Workday by 7.5% in the second quarter. Vanguard Group Inc. now owns 8,269,840 shares of the company’s stock worth $617,509,000 after buying an additional 577,294 shares during the period. Norges Bank purchased a new position in shares of Workday during the fourth quarter worth approximately $45,517,000. Emerald Acquisition Ltd. purchased a new position in shares of Workday during the second quarter worth approximately $39,136,000. Finally, Southpoint Capital Advisors LP purchased a new position in shares of Workday during the first quarter worth approximately $38,420,000.
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. It operates in the cloud applications segment.
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