Workday Inc. (NYSE:WDAY)‘s stock had its “hold” rating restated by investment analysts at Barclays PLC in a research report issued on Wednesday. They presently have a $77.00 target price on the stock. Barclays PLC’s target price indicates a potential downside of 7.37% from the company’s current price.

The analysts wrote, “We believe the company’s bullish comments around the growing pipeline for the financials solution and the new platform approach have raised some investor expectations for better times ahead. At the moment, second-half billings represent 57% of annual billings, which is slightly below the historical range of 59%.””

A number of other equities research analysts also recently commented on WDAY. Stephens started coverage on Workday in a research report on Thursday, August 4th. They issued an “equal weight” rating for the company. Goldman Sachs Group Inc. reaffirmed a “neutral” rating and issued a $78.00 price objective on shares of Workday in a research report on Saturday, August 13th. Cowen and Company reaffirmed a “hold” rating and issued a $75.00 price objective on shares of Workday in a research report on Friday, August 19th. Needham & Company LLC downgraded Workday from a “buy” rating to a “hold” rating in a research report on Monday, August 22nd. Finally, BTIG Research reaffirmed a “buy” rating and issued a $92.00 price objective on shares of Workday in a research report on Monday, August 22nd. Two analysts have rated the stock with a sell rating, nineteen have given a hold rating and fifteen have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $86.28.

Analyst Recommendations for Workday (NYSE:WDAY)

Shares of Workday (NYSE:WDAY) opened at 83.13 on Wednesday. Workday has a 52-week low of $47.32 and a 52-week high of $93.35. The firm has a 50-day moving average price of $85.79 and a 200-day moving average price of $82.15. The firm’s market cap is $16.63 billion.

Workday (NYSE:WDAY) last released its quarterly earnings results on Wednesday, August 24th. The company reported ($0.04) earnings per share for the quarter, missing the Zacks’ 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 company earned $377.70 million during the quarter, compared to analyst estimates of $372.68 million. During the same period last year, the firm earned $0.02 earnings per share. The business’s revenue was up 33.6% compared to the same quarter last year. Analysts predict that Workday will post ($0.03) EPS for the current fiscal year.

In other Workday news, Chairman David A. Duffield sold 400,000 shares of the stock in a transaction 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Aneel Bhusri sold 10,317 shares of the stock in a transaction on Monday, October 17th. The shares were 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. Company insiders own 41.78% of the company’s stock.

Several large investors have recently made changes to their positions in WDAY. Vanguard Group Inc. increased its stake 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. Artisan Partners Limited Partnership increased its stake in shares of Workday by 3.5% in the second quarter. Artisan Partners Limited Partnership now owns 5,152,979 shares of the company’s stock worth $384,773,000 after buying an additional 172,572 shares during the period. Matrix Capital Management Company LP bought a new stake in shares of Workday during the third quarter worth approximately $468,573,000. BlackRock Institutional Trust Company N.A. increased its stake in shares of Workday by 5.6% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 2,906,494 shares of the company’s stock worth $266,496,000 after buying an additional 154,678 shares during the period. Finally, Criterion Capital Management LLC increased its stake in shares of Workday by 17.6% in the third quarter. Criterion Capital Management LLC now owns 2,133,635 shares of the company’s stock worth $195,633,000 after buying an additional 319,900 shares during the period. Institutional investors own 62.81% of the company’s stock.

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About Workday

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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