Workday, Inc. (WDAY) Receives “Buy” Rating from Canaccord Genuity
Workday, Inc. (NYSE:WDAY)‘s stock had its “buy” rating reiterated by analysts at Canaccord Genuity in a report issued on Friday, June 2nd. They presently have a $115.00 target price on the software maker’s stock. Canaccord Genuity’s price objective would indicate a potential upside of 16.66% from the company’s current price.
WDAY has been the topic of a number of other research reports. Benchmark Co. initiated coverage on shares of Workday in a report on Thursday, April 27th. They issued a “hold” rating on the stock. OTR Global raised shares of Workday to a “positive” rating in a report on Friday, February 24th. Cowen and Company raised their target price on shares of Workday from $73.00 to $83.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 28th. William Blair reaffirmed an “outperform” rating on shares of Workday in a research report on Wednesday, March 1st. Finally, Vetr cut shares of Workday from a “buy” rating to a “hold” rating and set a $88.50 price target for the company. in a research report on Thursday, April 20th. Four investment analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating and thirteen have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $91.03.
Workday (NYSE WDAY) traded down 0.09% during trading on Friday, hitting $98.58. The stock had a trading volume of 1,832,052 shares. The firm’s market cap is $20.41 billion. Workday has a 1-year low of $65.79 and a 1-year high of $104.53. The firm’s 50 day moving average is $95.28 and its 200 day moving average is $84.24.
Workday (NYSE:WDAY) last posted its earnings results on Thursday, June 1st. The software maker reported $0.29 EPS for the quarter, topping the consensus estimate of $0.16 by $0.13. Workday had a negative net margin of 22.99% and a negative return on equity of 27.75%. The company had revenue of $479.90 million during the quarter, compared to the consensus estimate of $468.07 million. During the same period in the previous year, the firm posted $0.05 earnings per share. The firm’s revenue for the quarter was up 38.0% on a year-over-year basis. On average, analysts anticipate that Workday will post $0.65 earnings per share for the current year.
In related news, CEO Aneel Bhusri sold 13,252 shares of the business’s stock in a transaction dated Monday, April 17th. The stock was sold at an average price of $83.15, for a total transaction of $1,101,903.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director David A. Duffield sold 428,489 shares of the business’s stock in a transaction dated Tuesday, April 11th. The shares were sold at an average price of $81.71, for a total value of $35,011,836.19. The disclosure for this sale can be found here. Insiders sold 1,295,391 shares of company stock valued at $117,530,641 in the last ninety days. Insiders own 41.78% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in WDAY. Norges Bank bought a new position in shares of Workday during the fourth quarter valued at $48,885,000. Vanguard Group Inc. increased its stake in shares of Workday by 6.4% in the first quarter. Vanguard Group Inc. now owns 9,936,052 shares of the software maker’s stock valued at $827,474,000 after buying an additional 593,839 shares during the period. Russell Investments Group Ltd. purchased a new stake in shares of Workday during the fourth quarter valued at about $29,032,000. Two Sigma Advisers LP increased its stake in shares of Workday by 90.2% in the third quarter. Two Sigma Advisers LP now owns 815,700 shares of the software maker’s stock valued at $74,792,000 after buying an additional 386,900 shares during the period. Finally, Scge Management L.P. purchased a new stake in shares of Workday during the fourth quarter valued at about $24,784,000.
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. As part of its applications, the Company provides embedded analytics that capture the content and context of everyday business events, facilitating informed decision-making from wherever users are working.
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