Workday Inc. (WDAY) Stock Rating Reaffirmed by Oppenheimer Holdings Inc.
Workday Inc. (NYSE:WDAY)‘s stock had its “outperform” rating restated by equities research analysts at Oppenheimer Holdings Inc. in a report issued on Tuesday. They presently have a $100.00 price target on the stock, up from their previous price target of $90.00. Oppenheimer Holdings Inc.’s price objective would suggest a potential upside of 9.67% from the company’s current price.
A number of other equities research analysts also recently issued reports on WDAY. Stephens decreased their price objective on Workday from $100.00 to $85.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 25th. First Analysis downgraded Workday from an “overweight” rating to an “equal weight” rating and upped their price objective for the company from $87.00 to $88.00 in a research report on Thursday, August 25th. Canaccord Genuity upped their price objective on Workday from $85.00 to $98.00 and gave the company a “buy” rating in a research report on Thursday, August 25th. Goldman Sachs Group Inc. restated a “neutral” rating and set a $78.00 price objective on shares of Workday in a research report on Saturday, August 13th. Finally, DA Davidson restated a “buy” rating and set a $99.00 price objective (up from $97.00) on shares of Workday in a research report on Wednesday, August 24th. Two investment analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and seventeen have issued a buy rating to the company. Workday presently has an average rating of “Hold” and an average price target of $86.19.
Workday (NYSE:WDAY) traded up 0.05% during midday trading on Tuesday, hitting $91.23. The company had a trading volume of 57,641 shares. The stock has a 50 day moving average price of $86.60 and a 200 day moving average price of $79.45. The company’s market capitalization is $18.25 billion. Workday has a 52 week low of $47.32 and a 52 week high of $92.46.
Workday (NYSE:WDAY) last posted its earnings results on Wednesday, August 24th. The company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by $0.02. The firm earned $377.70 million during the quarter, compared to analysts’ expectations of $372.68 million. Workday had a negative return on equity of 26.89% and a negative net margin of 25.71%. Workday’s quarterly revenue was up 33.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.02 earnings per share. Equities analysts forecast that Workday will post ($0.03) earnings per share for the current fiscal year.
In other news, Chairman David A. Duffield sold 400,000 shares of the business’s stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $83.32, for a total transaction of $33,328,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Michael M. Mcnamara sold 3,400 shares of the business’s stock in a transaction that occurred on Wednesday, July 13th. The stock was sold at an average price of $80.23, for a total value of $272,782.00. The disclosure for this sale can be found here. 41.78% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Tybourne Capital Management HK Ltd. boosted 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 valued at $227,069,000 after buying an additional 1,721,958 shares in the last quarter. State Street Corp boosted its position in shares of 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. Southpoint Capital Advisors LP bought a new position in shares of Workday during the first quarter valued at $38,420,000. Legal & General Group Plc boosted its position in shares of Workday by 14.1% in the first quarter. Legal & General Group Plc now owns 430,683 shares of the company’s stock valued at $33,094,000 after buying an additional 53,120 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of 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.
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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