Workday, Inc. (WDAY) Receives Buy Rating from Drexel Hamilton
Drexel Hamilton reaffirmed their buy rating on shares of Workday, Inc. (NYSE:WDAY) in a report issued on Tuesday morning. Drexel Hamilton currently has a $122.00 price objective on the software maker’s stock.
Several other analysts have also recently issued reports on the stock. Jefferies Group LLC reissued a hold rating and set a $92.00 price objective on shares of Workday in a research note on Tuesday. Credit Suisse Group reissued a neutral rating and set a $94.00 price objective on shares of Workday in a research note on Sunday, August 27th. Needham & Company LLC reissued a hold rating on shares of Workday in a research note on Monday, August 28th. Royal Bank Of Canada reissued a buy rating and set a $116.00 price objective on shares of Workday in a research note on Sunday, August 27th. Finally, Piper Jaffray Companies reissued a buy rating and set a $115.00 price objective on shares of Workday in a research note on Tuesday, August 22nd. Four 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 assigned a strong buy rating to the stock. The stock currently has an average rating of Hold and an average target price of $98.61.
Workday (NYSE:WDAY) opened at 108.84 on Tuesday. Workday has a 52-week low of $65.79 and a 52-week high of $111.45. The stock’s market capitalization is $22.53 billion. The stock’s 50 day moving average price is $103.09 and its 200 day moving average price is $94.12. Workday also saw some unusual options trading activity on Wednesday. Investors purchased 8,430 put options on the stock. This is an increase of 615% compared to the typical volume of 1,179 put options.
Workday (NYSE:WDAY) last announced its quarterly earnings data on Wednesday, August 30th. The software maker reported $0.24 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.09. Workday had a negative net margin of 19.78% and a negative return on equity of 24.88%. The company had revenue of $525.30 million during the quarter, compared to analysts’ expectations of $507.44 million. During the same period in the previous year, the company earned ($0.04) EPS. The business’s quarterly revenue was up 40.6% compared to the same quarter last year. On average, analysts forecast that Workday will post $0.81 EPS for the current year.
In other Workday news, CEO Aneel Bhusri sold 75,000 shares of the company’s stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $102.87, for a total value of $7,715,250.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David A. Duffield sold 359,484 shares of the company’s stock in a transaction dated Monday, July 10th. The stock was sold at an average price of $97.39, for a total transaction of $35,010,146.76. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,285,592 shares of company stock worth $128,237,888. 37.71% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of WDAY. Toronto Dominion Bank boosted its position in 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 during the period. Dynamic Technology Lab Private Ltd purchased a new position in Workday during the second quarter valued at approximately $1,273,000. Arcus Capital Partners LLC boosted its position 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 period. California State Teachers Retirement System boosted its position 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 period. Finally, Bank of Nova Scotia purchased a new position in Workday during the second quarter valued at approximately $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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