Barclays PLC Reaffirms Equal Weight Rating for Workday, Inc. (WDAY)
Workday, Inc. (NYSE:WDAY)‘s stock had its “equal weight” rating reiterated by analysts at Barclays PLC in a research note issued to investors on Thursday. They presently have a $108.00 price objective on the software maker’s stock, up from their previous price objective of $90.00. Barclays PLC’s price target suggests a potential downside of 1.54% from the company’s previous close.
Several other research analysts have also issued reports on WDAY. UBS AG reaffirmed a “buy” rating and issued a $115.00 target price (up previously from $103.00) on shares of Workday in a research note on Friday, June 2nd. Canaccord Genuity reaffirmed a “buy” rating and issued a $125.00 target price (up previously from $115.00) on shares of Workday in a research note on Thursday. Mitsubishi UFJ Financial Group set a $106.00 target price on shares of Workday and gave the company a “buy” rating in a research note on Saturday, June 3rd. Stifel Nicolaus reissued a “hold” rating and set a $92.00 price objective on shares of Workday in a research note on Tuesday, August 22nd. Finally, KeyCorp reissued a “hold” rating on shares of Workday in a research note on Thursday. Four equities research analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $97.45.
Workday (NYSE:WDAY) traded up 2.00% on Thursday, reaching $109.69. 4,790,790 shares of the company’s stock traded hands. The stock’s market capitalization is $22.71 billion. Workday has a 52-week low of $65.79 and a 52-week high of $111.45. The firm’s 50-day moving average is $102.15 and its 200 day moving average is $93.37. Workday also was the recipient of some unusual options trading activity on Wednesday. Traders acquired 8,430 put options on the stock. This represents an increase of approximately 615% compared to the average daily volume of 1,179 put options.
Workday (NYSE:WDAY) last posted its quarterly earnings data on Wednesday, August 30th. The software maker reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.09. The firm had revenue of $525.30 million during the quarter, compared to analysts’ expectations of $507.44 million. Workday had a negative net margin of 22.99% and a negative return on equity of 27.75%. The company’s quarterly revenue was up 40.6% compared to the same quarter last year. During the same quarter last year, the company posted ($0.04) EPS. Analysts forecast that Workday will post $0.66 EPS for the current year.
In other news, CFO Robynne Sisco sold 1,043 shares of the firm’s stock in a transaction on Monday, June 5th. The stock was sold at an average price of $102.91, for a total transaction of $107,335.13. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Aneel Bhusri sold 75,000 shares of the firm’s stock in a transaction on Monday, June 5th. The shares were sold at an average price of $102.87, for a total value of $7,715,250.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,285,592 shares of company stock worth $128,237,888. Company insiders own 37.71% of the company’s stock.
Several large investors have recently made changes to their positions in WDAY. Toronto Dominion Bank raised its stake in shares of Workday by 15.1% in the second quarter. Toronto Dominion Bank now owns 1,536 shares of the software maker’s stock valued at $149,000 after buying an additional 201 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Workday during the second quarter valued at about $1,273,000. Arcus Capital Partners LLC raised its stake in shares of Workday by 20.0% in the second quarter. Arcus Capital Partners LLC now owns 3,750 shares of the software maker’s stock valued at $364,000 after buying an additional 625 shares in the last quarter. California State Teachers Retirement System raised its stake in shares of Workday by 3.7% in the second quarter. California State Teachers Retirement System now owns 240,307 shares of the software maker’s stock valued at $23,310,000 after buying an additional 8,545 shares in the last quarter. Finally, Bank of Nova Scotia acquired a new stake in shares of Workday during the second quarter valued at about $3,457,000.
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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