DA Davidson Reiterates $107.00 Price Target for Workday Inc. (WDAY)
Workday Inc. (NYSE:WDAY) has been assigned a $107.00 price target by equities researchers at DA Davidson in a research note issued to investors on Friday. The brokerage presently has a “buy” rating on the stock. DA Davidson’s price objective points to a potential upside of 27.93% from the stock’s previous close.
WDAY has been the subject of a number of other research reports. Brean Capital reissued a “sell” rating and set a $62.00 price target on shares of Workday in a report on Wednesday, September 28th. Canaccord Genuity boosted their price target on Workday from $98.00 to $110.00 and gave the stock a “buy” rating in a report on Monday, October 3rd. Cowen and Company reissued a “market perform” rating and set a $83.00 price target (up previously from $75.00) on shares of Workday in a report on Friday, August 26th. Needham & Company LLC cut Workday from a “buy” rating to a “hold” rating in a report on Monday, August 22nd. Finally, Vetr cut Workday from a “buy” rating to a “hold” rating and set a $87.71 price target for the company. in a report on Thursday, August 25th. Two analysts have rated the stock with a sell rating, eighteen have given a hold rating and fourteen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $85.72.
Shares of Workday (NYSE:WDAY) traded up 0.61% during mid-day trading on Friday, hitting $83.64. The stock had a trading volume of 513,294 shares. The stock has a 50 day moving average price of $85.38 and a 200 day moving average price of $82.24. The firm’s market cap is $16.73 billion. Workday has a 52 week low of $47.32 and a 52 week high of $93.35.
Workday (NYSE:WDAY) last announced its quarterly earnings data on Wednesday, August 24th. The company reported ($0.04) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.02) by $0.02. Workday had a negative net margin of 25.71% and a negative return on equity of 26.89%. The company earned $377.70 million during the quarter, compared to analyst estimates of $372.68 million. During the same period in the prior year, the firm earned $0.02 earnings per share. Workday’s revenue was up 33.6% on a year-over-year basis. Equities research analysts expect that Workday will post ($0.03) EPS for the current fiscal year.
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In related news, EVP James Bozzini sold 4,587 shares of the stock in a transaction on Monday, October 17th. The stock was sold at an average price of $86.35, for a total value of $396,087.45. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Aneel Bhusri sold 10,317 shares of the stock in a transaction on Monday, October 17th. The stock was sold at an average price of $86.35, for a total value of $890,872.95. The disclosure for this sale can be found here. 41.78% of the stock is owned by insiders.
Large investors have recently modified their holdings of the company. Prudential Financial Inc. increased its stake in shares of Workday by 1.4% in the third quarter. Prudential Financial Inc. now owns 3,510 shares of the company’s stock worth $322,000 after buying an additional 50 shares during the period. Mn Services Vermogensbeheer B.V. increased its stake in shares of Workday by 2.8% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 2,829 shares of the company’s stock worth $190,000 after buying an additional 78 shares during the period. US Bancorp DE increased its stake in shares of Workday by 0.5% in the second quarter. US Bancorp DE now owns 27,125 shares of the company’s stock worth $2,026,000 after buying an additional 123 shares during the period. American International Group Inc. increased its stake in shares of Workday by 3.7% in the second quarter. American International Group Inc. now owns 3,466 shares of the company’s stock worth $259,000 after buying an additional 125 shares during the period. Finally, Advisor Group Inc. increased its stake in shares of Workday by 14.9% in the third quarter. Advisor Group Inc. now owns 1,193 shares of the company’s stock worth $109,000 after buying an additional 155 shares during the period. Institutional investors own 62.81% of the company’s stock.
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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