Workday’s (WDAY) “Buy” Rating Reaffirmed at BTIG Research
BTIG Research restated their buy rating on shares of Workday Inc. (NYSE:WDAY) in a research note issued to investors on Wednesday morning. BTIG Research currently has a $97.00 price objective on the stock.
Several other equities research analysts also recently weighed in on the stock. Wedbush raised shares of Workday from an underperform rating to a neutral rating and upped their price objective for the stock from $69.00 to $82.00 in a report on Wednesday. Deutsche Bank AG upped their price target on shares of Workday from $75.00 to $85.00 and gave the company a hold rating in a report on Friday, September 16th. Needham & Company LLC reissued a hold rating on shares of Workday in a report on Tuesday, August 30th. Cowen and Company reissued a market perform rating and issued a $83.00 price target (up from $75.00) on shares of Workday in a report on Friday, August 26th. Finally, Piper Jaffray Cos. reissued a neutral rating and issued a $80.00 price target (up from $74.00) on shares of Workday in a report on Friday, August 26th. Two investment 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 has an average rating of Hold and an average target price of $85.33.
Workday (NYSE:WDAY) traded down 0.12% during midday trading on Wednesday, hitting $90.77. 266,592 shares of the company traded hands. The company’s market cap is $18.15 billion. The stock has a 50 day moving average price of $85.92 and a 200-day moving average price of $78.95. Workday has a 12-month low of $47.32 and a 12-month high of $91.00.
Workday (NYSE:WDAY) last posted its quarterly earnings data on Wednesday, August 24th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of ($0.02) by $0.02. The company earned $377.70 million during the quarter, compared to analyst estimates of $372.68 million. Workday had a negative return on equity of 26.89% and a negative net margin of 25.71%. The business’s revenue for the quarter was up 33.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.02 EPS. Analysts expect that Workday will post ($0.04) EPS for the current year.
In other Workday news, Vice Chairman Michael A. Stankey sold 56,200 shares of the company’s stock in a transaction that occurred on Tuesday, September 27th. The stock was sold at an average price of $89.39, for a total transaction of $5,023,718.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP James P. Shaughnessy sold 11,750 shares of the company’s stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $74.56, for a total value of $876,080.00. The disclosure for this sale can be found here. Company insiders own 41.78% of the company’s stock.
A number of large investors have recently made changes to their positions in the company. Geode Capital Management LLC boosted its stake in Workday by 5.0% in the first quarter. Geode Capital Management LLC now owns 647,820 shares of the company’s stock valued at $49,747,000 after buying an additional 30,992 shares in the last quarter. State Street Corp boosted its stake in Workday by 4.1% in the first quarter. State Street Corp now owns 1,854,350 shares of the company’s stock valued at $142,497,000 after buying an additional 73,344 shares in the last quarter. OMERS ADMINISTRATION Corp acquired a new stake in Workday during the first quarter valued at $546,000. Canada Pension Plan Investment Board boosted its stake in Workday by 1,953.8% in the first quarter. Canada Pension Plan Investment Board now owns 17,211 shares of the company’s stock valued at $1,322,000 after buying an additional 16,373 shares in the last quarter. Finally, Ithaka Group LLC boosted its stake in Workday by 0.9% in the first quarter. Ithaka Group LLC now owns 151,387 shares of the company’s stock valued at $11,633,000 after buying an additional 1,289 shares in the last quarter.
Workday Company Profile
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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