Workday’s (WDAY) Buy Rating Reiterated at Canaccord Genuity
Workday, Inc. (NYSE:WDAY)‘s stock had its “buy” rating restated by research analysts at Canaccord Genuity in a note issued to investors on Thursday. They presently have a $125.00 price objective on the software maker’s stock, up from their previous price objective of $115.00. Canaccord Genuity’s price target indicates a potential upside of 16.24% from the stock’s previous close.
WDAY has been the subject of a number of other research reports. Deutsche Bank AG reissued a “hold” rating and set a $95.00 price target (up previously from $85.00) on shares of Workday in a research report on Saturday, June 3rd. Credit Suisse Group reissued a “hold” rating and set a $94.00 price target on shares of Workday in a research report on Sunday. J P Morgan Chase & Co boosted their price target on Workday to $115.00 and gave the company an “overweight” rating in a research report on Thursday, July 13th. BMO Capital Markets boosted their price target on Workday from $105.00 to $110.00 and gave the company a “market perform” rating in a research report on Thursday, August 17th. Finally, KeyCorp reissued a “hold” rating on shares of Workday in a research report on Thursday. Four analysts have rated the stock with a sell rating, twenty have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $94.81.
Shares of Workday (WDAY) opened at 107.54 on Thursday. The company has a 50-day moving average price of $102.15 and a 200-day moving average price of $93.37. The company’s market capitalization is $22.26 billion. Workday has a 12 month low of $65.79 and a 12 month high of $107.88. Workday also was the recipient of some unusual options trading on Wednesday. Traders purchased 8,430 put options on the company. This is an increase of approximately 615% compared to the average daily volume of 1,179 put options.
Workday (NYSE:WDAY) last posted its quarterly earnings results on Wednesday, August 30th. The software maker reported $0.24 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.15 by $0.09. Workday had a negative return on equity of 27.75% and a negative net margin of 22.99%. The firm had revenue of $525.30 million during the quarter, compared to the consensus estimate of $507.44 million. During the same quarter in the previous year, the business earned ($0.04) earnings per share. The firm’s quarterly revenue was up 40.6% compared to the same quarter last year. On average, analysts forecast that Workday will post $0.66 EPS for the current fiscal year.
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In related news, SVP James P. Shaughnessy sold 8,760 shares of the stock in a transaction that occurred on Monday, July 17th. The stock was sold at an average price of $103.62, for a total value of $907,711.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael A. Stankey sold 25,000 shares of the stock in a transaction that occurred on Tuesday, June 6th. The stock was sold at an average price of $103.05, for a total value of $2,576,250.00. The disclosure for this sale can be found here. Insiders have sold 1,285,592 shares of company stock valued at $128,237,888 over the last ninety days. Corporate insiders own 37.71% of the company’s stock.
A number of institutional investors have recently modified their holdings of WDAY. Glynn Capital Management LLC raised its position in shares of Workday by 7.3% in the first quarter. Glynn Capital Management LLC now owns 297,413 shares of the software maker’s stock worth $24,769,000 after buying an additional 20,256 shares during the period. Chicago Equity Partners LLC acquired a new position in shares of Workday during the first quarter worth about $212,000. Winfield Associates Inc. raised its position in shares of Workday by 136.4% in the second quarter. Winfield Associates Inc. now owns 1,040 shares of the software maker’s stock worth $101,000 after buying an additional 600 shares during the period. Sumitomo Mitsui Asset Management Company LTD raised its position in shares of Workday by 47.0% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 573,715 shares of the software maker’s stock worth $55,650,000 after buying an additional 183,444 shares during the period. Finally, Prudential Financial Inc. raised its position in shares of Workday by 18.2% in the first quarter. Prudential Financial Inc. now owns 4,030 shares of the software maker’s stock worth $336,000 after buying an additional 620 shares during the period.
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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