Needham & Company LLC reaffirmed their hold rating on shares of Workday, Inc. (NYSE:WDAY) in a research report sent to investors on Monday morning.

WDAY has been the topic of a number of other research reports. Deutsche Bank AG reissued a hold rating and issued a $95.00 price target (up previously from $85.00) on shares of Workday in a research note on Saturday, June 3rd. Credit Suisse Group reissued a neutral rating and issued a $94.00 price target (up previously from $91.00) on shares of Workday in a research note on Saturday, June 3rd. J P Morgan Chase & Co lifted their price target on shares of Workday to $115.00 and gave the company an overweight rating in a research note on Thursday, July 13th. BMO Capital Markets lifted their price target on shares of Workday from $105.00 to $110.00 and gave the company a market perform rating in a research note on Thursday, August 17th. Finally, Vetr raised shares of Workday from a hold rating to a buy rating and set a $93.50 price target on the stock in a research note on Monday, May 1st. Four equities research analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of Hold and a consensus target price of $97.67.

Workday (WDAY) opened at 109.69 on Monday. The stock’s market cap is $22.71 billion. The stock has a 50 day moving average of $102.91 and a 200 day moving average of $93.95. Workday has a 12-month low of $65.79 and a 12-month high of $111.45. Workday also was the recipient of some unusual options trading activity on Wednesday. Stock traders purchased 8,430 put options on the company. This is an increase of approximately 615% compared to the typical daily volume of 1,179 put options.

Workday (NYSE:WDAY) last released its quarterly earnings results on Wednesday, August 30th. The software maker reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.09. Workday had a negative net margin of 22.99% and a negative return on equity of 27.75%. The firm had revenue of $525.30 million for the quarter, compared to analysts’ expectations of $507.44 million. During the same quarter last year, the company earned ($0.04) EPS. The firm’s revenue for the quarter was up 40.6% compared to the same quarter last year. On average, equities research analysts anticipate that Workday will post $0.66 earnings per share for the current fiscal year.

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In other news, CEO Aneel Bhusri sold 75,000 shares of the business’s stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $102.87, for a total transaction of $7,715,250.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP James P. Shaughnessy sold 8,760 shares of the business’s stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $103.62, for a total value of $907,711.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,285,592 shares of company stock valued at $128,237,888. 37.71% of the stock is currently owned by corporate insiders.

Institutional investors have recently made changes to their positions in the company. Toronto Dominion Bank increased its position 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 worth $149,000 after buying an additional 201 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Workday during the second quarter valued at $1,273,000. Arcus Capital Partners LLC boosted its stake in 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 during the last quarter. California State Teachers Retirement System boosted its stake in 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 during the last quarter. Finally, Bank of Nova Scotia acquired a new stake in Workday during the second quarter valued at $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.

Analyst Recommendations for Workday (NYSE:WDAY)

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